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Coal is a key input into the production of electricity. The U.S. Environmental Protection Agency recently enacted regulations that require new, expensive procedures to generate
Coal is a key input into the production of electricity. The U.S. Environmental Protection Agency recently enacted regulations that require new, expensive procedures to generate electricity by using coal as a fuel source. Naturally, coal must be thought of as a complementary good in the context of coal-fired electricity generation. Using the supply and demand model, explain what happens (1) in the market for coal-fired electricity generation and (2) the market for coal
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