Using a graph showing private marginal cost, private marginal benefit, and social marginal benefit of the research and development of new ideas, show how government subsidies of research and development might mitigate the effect of spillovers.

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The Answer of Using a graph showing private marginal cost, private marginal benefit, and social marginal benefit of the research and development of new ideas, show how government subsidies of research and development might mitigate the effect of spillovers.

Using a Graph Showing Private Marginal Cost, Private Marginal Benefit