Question: 7. Using demand and supply diagrams, show the difference in deadweight loss between a market with inelastic demand and supply curves and a market with

7. Using demand and supply diagrams, show the difference in deadweight loss between a market with inelastic demand and supply curves and a market with elastic demand and supply curves. 8. Using a supply and demand diagram, demonstrate how a negative externality leads to market inefficiency. How might the government help to eliminate this inefficiency

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