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If positive externalities exist in a perfectly competitive market with no government intervention, which of the following is TRUE?
The marginal social cost will exceed the marginal private cost.
The marginal social benefit will exceed the marginal private benefit.
Marginal social benefit will be less than marginal private benefit.
Marginal social cost will be less than marginal private cost.
Marginal social benefit and marginal social cost will be the same as marginal private benefit and marginal private cost.