Question: Hi i'm not sure exactly how to graph these equations and determine the actual equilibrium values. Q) Draw the marginal private benefit (MPB) curve, the
Hi i'm not sure exactly how to graph these equations and determine the actual equilibrium values.
Q) Draw the marginal private benefit (MPB) curve, the marginal private cost (MPC) curve and the marginal social cost (MSC) curve in a diagram using the three equations provided below
i. Quantity demanded (marginal private benefit curve) = 600-40P
ii. Quantity supplied (marginal private cost curve) = -50+25P
iii. Quantity supplied (marginal social cost curve) = -60 + 20P
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