Refer to Table 17-4. What is the socially efficient quantity of the product?

A) 35
B) 25
C) 50
D) 60

Socially Efficient Quantity

The level of production of a good or service that optimizes social welfare, taking into account both private costs and externalities.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded by consumers, holding all other factors affecting demand constant.

Nash Equilibrium

A situation in a non-cooperative game where each player's strategy is optimal given the strategies of the other players, and no unilateral deviation can be beneficial.