A local construction company, Fast Construction, operates in a residential neighbourhood and generates a high level of noise during its construction activities The loud noise disrupts the peaceful ambiance of the area, making it uncomfortable for the residents to carry out their daily activities Without any government intervention, will Fast Construction produce a socially optimal quantity Why or why not Explain your answer with the help of a suitable diagram Does Fast Construction impose a deadweight loss on society Use your diagram to show the deadweight loss to society How can a government intervene to improve upon the outcome from society's point of view

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Question: [ A local construction company, Fast Construction, operates in a residential neighbourhood and generates a high level of noise during its construction activities. The loud

[A local construction company, Fast Construction, operates in a residential neighbourhood and generates a high level of noise during its construction activities. The loud noise disrupts the peaceful ambiance of the area, making it uncomfortable for the residents to carry out their daily activities.]

[Without any government intervention, will Fast Construction produce a socially optimal quantity? Why or why not? Explain your answer with the help of a suitable diagram.
[Does Fast Construction impose a deadweight loss on society? Use your diagram to show the deadweight loss to society.
[How can a government intervene to improve upon the outcome from society's point of view?

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