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figure 104 social cost price supply private cost demand private...

Question: figure 104 social cost price supply private cost demand private...

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Figure 10-4 Social Cost Price Supply (Private Cost) Demand (Private Value) Qi 2 Qa 04 Quantity Refer to Figure 10-4. (assume private value social value in this example) This market would benefit from a subsidy for the product would maximize total well-being at Q3. would benefit from a tax on the product. has no need for government intervention

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