Which of the following is true if a product has zero external costs? 1. Marginal social costs
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Question:
Which of the following is true if a product has zero external costs?
1. Marginal social costs are greater than marginal private costs.
2. We need more information to determine the relationship between private and social costs.
3. Marginal social costs equal marginal private costs.
4. Marginal social costs are less than marginal private costs.
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