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Price Pr Pa Pe P Pa L I I I Q₁ 22 I MSC MSB MPB →> Q3 Quantity 1. What type of externality does the graph above demonstrate? 2. How might the government eliminate this externality? 3. In this graph, how would you describe the equilibrium quantity without government intervention? "

Price Pr Pa Pe P Pa L I I I Q₁ 22 I MSC MSB MPB →> Q3 Quantity 1. What type of externality does the graph above demonstrate? 2. How might the government eliminate this externality? 3. In this graph, how would you describe the equilibrium quantity without government intervention? "

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter11: Public Goods And Common Resources
Section: Chapter Questions
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Price Pr Pa Pe Po Pa I 3 Q₁ 22 IN 1 I MSC MSB MPB →→ Q3 Quantity 1. What type of externality does the graph above demonstrate? 2. How might the government eliminate this externality? 3. In this graph, how would you describe the equilibrium quantity without government intervention? 4
Transcribed Image Text:Price Pr Pa Pe Po Pa I 3 Q₁ 22 IN 1 I MSC MSB MPB →→ Q3 Quantity 1. What type of externality does the graph above demonstrate? 2. How might the government eliminate this externality? 3. In this graph, how would you describe the equilibrium quantity without government intervention? 4
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