11. If the social costs of refining oil are greater than the private costs of oil refining, then there is too much oil refining. users of products that use refined oil are paying too much for the products. the amount of oil refining needs to increase in order to bring social costs and private costs in line with each other. the external costs of oil refining are greater than the social costs of oil refining.

11. If the social costs of refining oil are greater than the private costs of oil refining, then
there is too much oil refining.
users of products that use refined oil are paying too much for the products.
the amount of oil refining needs to increase in order to bring social costs and private costs in line with each other.
the external costs of oil refining are greater than the social costs of oil refining.

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