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_A company logs old-growth forest. The firm is small compared to the rest of the market and faces a constant price P = 100 for
_A company logs old-growth forest. The firm is small compared to the rest of the market and faces a constant price P = 100 for the timber that it harvests per hectare of land. The marginal private cost of logging is MC = Q where Q are the hectares of land harvested by the firm (the marginal costs increase because the company has to log further away from roads and on steeper mountain slopes). Without any regulation, how many hectares would the company log
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