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5. We-Dump-It is in the business of disposing of toxic chemicals. Explain why a legal system might be necessary to increase the private cost of

5. We-Dump-It is in the business of disposing of toxic chemicals. Explain why a legal system might be necessary to increase the private cost of risk for We-Dump-It in order to better align its goal of maximizing firm value with the goal of achieving an efficient level of risk in society.

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