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If at the current output of X the PX < MCX (the price of X is smaller than the marginal cost of X), then society gains by producing more X. producing less X. lowering the price of X. increasing the cost of producing X.

/in /by

If at the current output of X the PX &lt; MCX (the price of X is smaller than the marginal cost of X), then society gains by

producing more X.
producing less X.
lowering the price of X.
increasing the cost of producing X.
 
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