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Question: 1 the current market for junked cars is 100 a...

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1. The current market for junked cars is $100. A junkyard owner will pay you that amount for your wreck to haul it away. Suppose the supply of junk cars dramatically increases. Show how there could be a surplus of junk cars at a zero price. Explain how this could result in car owners having to pay junk yard owners to row their car away. How might the government have to create new laws or thought processes to remedy the problem and what might be there impact. Give detail in your answer.
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