Question: Question 2 Please explain why negative externalities lead to a socially inefficient level of output. Then please present the concept of Pigouvian tax. Support your

Question 2 Please explain why negative externalities lead to a socially

Question 2 Please explain why negative externalities lead to a socially inefficient level of output. Then please present the concept of Pigouvian tax. Support your answer with a diagram/diagrams

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