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When positive externalities exist, the private market equilibrium represents a market price which is too low and a market quantity which is too low.

When positive externalities exist, the private market equilibrium represents a
market price which is too low and a market quantity which is too low.
market price which is too high and a market quantity which is too low.
market price which is too high and a market quantity which is too high.
market price which is too low and a market quantity which is too high.

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