Studies have shown that producing Good X generates pollution that is harmful - even for consumers who may not purchase/consume Good X themselves. If prices for this good are simply determined in a...

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Extracted text: Studies have shown that producing Good X generates pollution that is harmful - even for consumers who may not purchase/consume Good X themselves. If prices for this good are simply determined in a free market, which of the following will occur? O The market price of Good X will be too low and the quantity produced and sold will be too high. The market will be efficient because markets always regulate marginal benefits and marginal costs of all consumers. The market price of Good X will reflect the marginal social benefit received by nonconsumers of Good X. O The market price of Good X will be efficient but the quantity produced and sold will be too high. O The price of Good X will overstate the true external costs imposed on nonconsumers of Good X.