Business, 14.02.2020 19:18 andybiersack154

The demand curve for a particular good is given by its marginal private benefit function. Let MPB = 24 - 2q, where q is the quantity demanded. Let the marginal private cost function be MPC = q. Suppose that marginal social benefit is always double the marginal private benefit. Graph the functions, and mark out the (i) the market equilibrium, (ii) the efficient equilibrium.

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The demand curve for a particular good is given by its marginal private benefit function. Let MPB =...

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