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The price system and the microeconomy · 106 left
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Why might an unregulated market produce a larger quantity of a good than is best for society as a whole?
[1 mark]
a single firm has gained control over supply of the good
the good imposes external costs on third parties
the good confers external benefits on third parties
people who refuse to pay cannot be stopped from using the good
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Modelled on Cambridge 9708 · May/Jun 2026 · Paper 31 · Q1
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