McqMate
| Q. |
In drilling a new oil well in an existing oil field, the fact that output on existing wells is reduced means that |
| A. | existing wells have negatively sloped marginal cost curves. |
| B. | existing wells and new wells are owned by different people. |
| C. | existing wells and new wells are owned by the same people. |
| D. | there is a discrepancy between private and social marginal costs. |
| Answer» D. there is a discrepancy between private and social marginal costs. | |
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