Please give me correct answer and full explanation correct and incorrect. Note:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. The following graph represents the tobacco industry.PRICE (Dollars per unit)3.002.802.071.50Social Cost24 30 3850QUANTITY (Units of tobacco)Refer to Figure 10-1. The industry createsnegative externalities.Ono equilibrium in the market.positive externalities.no externalities.SupplyDemand

The graph illustrates the notion of externalities in economics. Externalities are expenses or…

Answered: Refer to Figure 10-1. The industry…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please give me correct answer and full explanation correct and incorrect. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.

The following graph represents the tobacco industry.
PRICE (Dollars per unit)
3.00
2.80
2.07
1.50
Social Cost
24 30 38
50
QUANTITY (Units of tobacco)
Refer to Figure 10-1. The industry creates
negative externalities.
Ono equilibrium in the market.
positive externalities.
no externalities.
Supply
Demand

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