The graph shows the competitive market for fitness trackers. Draw a point that shows the efficient quantity of fitness trackers and the marginal social benefit and marginal social cost at the efficient quantity. Label it Efficient. Choose the statement that is correct. O A. At the competitive equilibrium, the market for fitness trackers achieves allocative efficiency. OB. If production in the market for fitness trackers is less than the equilibrium quantity, the marginal fitness tracker costs more to produce than the value that consumers place on it. OC. The competitive market pushes the quantity of fitness trackers produced beyond its efficient level. O D. The market for fitness trackers is not in the social interest because buyers and sellers act only in their self-interest. 240- 200- 160- 120- 80- 40- 0- Price (dollars per fitness tracker) D 6 8 10 12 14 16 Quantity (millions of fitness trackers per year) >>> Draw only the objects specified in the question. 0 S Q G

The graph shows the competitive market for fitness trackers. Draw a point that shows the efficient quantity of fitness trackers and the marginal social benefit and marginal social cost at the efficient quantity. Label it Efficient. Choose the statement that is correct. O A. At the competitive equilibrium, the market for fitness trackers achieves allocative efficiency. OB. If production in the market for fitness trackers is less than the equilibrium quantity, the marginal fitness tracker costs more to produce than the value that consumers place on it. OC. The competitive market pushes the quantity of fitness trackers produced beyond its efficient level. O D. The market for fitness trackers is not in the social interest because buyers and sellers act only in their self-interest. 240- 200- 160- 120- 80- 40- 0- Price (dollars per fitness tracker) D 6 8 10 12 14 16 Quantity (millions of fitness trackers per year) >>> Draw only the objects specified in the question. 0 S Q G

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 5PA

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