Graph the following data on social and market demand: (a) Does this product have external benefits or
Question:
(a) Does this product have external benefits or external costs?
(b) How large ($) is that externality?
Transcribed Image Text:
Market quantity Soclal quantity demanded demanded Price ($) (units per month) (units per month) 20 10 20 18 20 30 30 16 40 14 40 50 12 50 60 10 60 70
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a The product had external benefits b 2 per unit Explanation a The s...View the full answer
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