The next few questions are about this generic market with a negative consumption externality. Fill in thewelfare table below with the areas associated with each welfare measure.PSAP.ВP,DEFP.GMSBQ0.Q.Qtax that leads to QoCSPStax revenueexternalitytotal surplusA.) Consumer surplus with the tax is represented by areaа. Аb. A+B+Cc. A+B+C+D+E+F+Gd. B+D+FB.) The cost of the externality at quantity Q1 is represented by areaа. А+В+Db. F+Gc. A+B+C+D+E+F+G+Hd. A+B+C+D+E+HC.) The social surplus at quantity Q1 is represented by the areaa. A+B+C+D+Eb. F+G-Hc. A+B+C+D+E+F+Gd. A+B+C+D+E+F+G-H

Negative externality in consumption means when overconsumption of any good creates harm to the…

Answered: The next few questions are about this…

The next few questions are about this generic market with a negative consumption externality. Fill in the welfare table below with the areas associated with each welfare measure. P S A в 1 D E H MSB

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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