Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7) The students' demand for Econ 101 Textbooks is represented by the function Q = 60 2P. Because the textbooks can be shared with other

image text in transcribed
7) The students' demand for Econ 101 Textbooks is represented by the function Q = 60 2P. Because the textbooks can be shared with other students, it creates a positive externality. The social equilibrium quantity for textbooks is 70. Each textbook costs $10. What is the value of the positive externaty? a) 90 b) 45 c) 30 d) 15 e) O f) -30

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Climate Policy And Nonrenewable Resources The Green Paradox And Beyond

Authors: Karen Vollebergh, Rick Van Der Ploeg

1st Edition

0262319845, 9780262319843

More Books

Students also viewed these Economics questions

Question

This table wasnt fill

Answered: 1 week ago