The following diagram represents the profit-maximizing price and output for a firm in a perfectly competitive industry
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The following diagram represents the profit-maximizing price and output for a firm in a perfectly competitive industry with no externalities. Use this diagram to explain
what will happen if the production of the product imposes external costs on society and these costs are not factored into production decisions.
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Related Book For 
Principles Of Economics
ISBN: 9781292294698
13th Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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