3Q6Q7Q8: all questions have a correlation towards each other. Use the following to complete them. Question Q7Write down society's formal objective in this model. Be specific as to the particular elements ofthat objective.Question Q8At the market equilibrium in the above graph, write down the appropriate marginal decision rulethat applies. Make sure to use all the appropriate units.7/14 10:30fc0d1ceb77ac3158faaca00...5/14400Question Q6Using the graph below, shade in the appropriate part of your graph that represents the totalexternal costs that occur at the market equilibrium. Be precise in your shading, especially atthe edges.Marijuana (lbs)6/14Done100Question Q7Write down society's formal objective in this model. Be specific as to the particular elements ofthat objective.

External cost is the cost that is not included in the price and is born by the third party. Given…

Answered: Using the graph below, shade in the…

Using the graph below, shade in the appropriate part of your graph that represents the total external costs that occur at the market equilibrium. Be precise in your shading, especially at the edges.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

3Q6Q7Q8: all questions have a correlation towards each other. Use the following to complete them.

10:30
fc0d1ceb77ac3158faaca00...
5/14
400
Question Q6
Using the graph below, shade in the appropriate part of your graph that represents the total
external costs that occur at the market equilibrium. Be precise in your shading, especially at
the edges.
Marijuana (lbs)
6/14
Done
100
Question Q7
Write down society's formal objective in this model. Be specific as to the particular elements of
that objective.

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Question 4 Solve: 옳 x=? = 16
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