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Suppose That in the Market for Paper,demand Is P =

Question 35

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Suppose that in the market for paper,demand is p = 100 - Q.The private marginal cost is MCP = 10 + Q.Pollution generated during the production process creates external marginal harm equal to MCᵉ = Q.Is social welfare greater under monopoly or under competition?

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First,the socially optimal quantity of p...

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