APFIVE Determining Socially Optimal Quantity
For good Z, the marginal benefit (MB) is $25 and the marginal cost (MC) is $15 at a quantity (Q) of 50. At Q = 60, MB is $20 and MC is $20. At Q = 70, MB is $15 and MC is $25. What is the socially optimal quantity?
A
50 units
B
60 units
C
Between 50 and 70 units
D
70 units
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