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Given the market outlined in the graph, figure out the private and social equilibrium. a) Indicate the private equilibrium and the social equilibrium on the

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Given the market outlined in the graph, figure out the private and social equilibrium. a) Indicate the private equilibrium and the social equilibrium on the graph. Private Equilibrium Demand Full Social Supply Cost 40 (19,39) 36 Price ($/unit) 20 Private Supply Cost 0 2 8 10 12 14 16 18 20 Reset Quantity b) Calculate the tax per unit necessary to reduce the quantity supplied to the socially optimum level. Tax = $0

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