Quantity Quantity Supplied (Private Supplied (Social Cost) 6000 7500 9000 11,000 14,000 Quantity Demanded Price Cost only) 12,000 19,000 $50 $55 $60 $65 $70 14,000 14,000 17,000 20,000 24,000 9000 5000 1000
Quantity Quantity Supplied (Private Supplied (Social Cost) 6000 7500 9000 11,000 14,000 Quantity Demanded Price Cost only) 12,000 19,000 $50 $55 $60 $65 $70 14,000 14,000 17,000 20,000 24,000 9000 5000 1000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
100%
Use the table below to answer the questions:
A. Find the equilibrium price , assuming sellers ignore negative externalities.
B. Find the equilibrium quantity , assuming sellers ignore negative externalities.
C. Find the optimal price, including external costs. Find the optimal quantity, including external costs.
![Quantity
Quantity
Supplied (Private Supplied (Social
Cost)
6000
7500
9000
11,000
14,000
Quantity
Demanded
Price
Cost only)
12,000
14,000
19,000
14,000
9000
5000
1000
$50
$55
$60
$65
$70
17,000
20,000
24,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe3542cc1-4a38-4e03-9401-c9f7e6b1b890%2Fe01821c6-e71e-47db-8169-7940c9efd82e%2F5j7sca_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Quantity
Quantity
Supplied (Private Supplied (Social
Cost)
6000
7500
9000
11,000
14,000
Quantity
Demanded
Price
Cost only)
12,000
14,000
19,000
14,000
9000
5000
1000
$50
$55
$60
$65
$70
17,000
20,000
24,000
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