Figure 19.5.1
-Refer to Figure 19.5.1 above. To bring this industry to produce the socially optimal level of output, there must be a correction:

Name: Figure 19.5.1 -Refer to Figure 19.5.1 above. To bring this industry to produce the socially optimal level of output, there must be a correction:
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Question

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To achieve the socially optimal level of output, production should be reduced to Q3, where the marginal social cost (MSC) equals the marginal benefit (MB).

Figure 19.5.1 -Refer to Figure 19.5.1 Above. to Bring This Industry to Industry