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Marginal external cost: MCExternal = 4Q Marginal internal cost: MCInternal = 7Q Inverse demand for steel: P = 110 - Q a. Compute: socially efficient output. b. Calculate: output produced by

Marginal external cost: MCExternal = 4Q

Marginal internal cost: MCInternal = 7Q

Inverse demand for steel: P = 110 - Q

a. Compute: socially efficient output.

b. Calculate: output produced by a competitive industry.

c. Calculate: the output produced by the monopoly industry.

Apr 16 2021 View more View Less

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