Sppose demand for a product q 1200 - 4p and supply is q , Ask an Expert

Economics

Suppose demand for a product Q = 1,200 - 4P and supply is Q = -200 +2P. Furthermore, suppose that the marginal external damage of this product is $8 per unit. How many more units of this product will the free market produce than is socially optimal? Calculate the dead weight loss associated with the externality.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91423331

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