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please provide a comprehensible answer. thanks Objective/s: Examine who bears external costs and why externalities are a type of market failure. Instructions: Draw a simple

please provide a comprehensible answer. thanks

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Objective/s: Examine who bears external costs and why externalities are a type of market failure. Instructions: Draw a simple picture of a river. (Two curving lines are sufficient.) Add a rectangle labeled \"FACTORY\" at one end of the river. Draw a human stick figure farther down the river. Add rectangle labeled \"BREWERY\" at the other end of the river. This drawing represents three users of a natural resource. Tiffany owns a sweater factory on the river. Dan (stick figure} enjoys going to a beach on the river. Pat owns a brewery that uses water from the river.\" Draw a line into the brewery from the river. Add a beach umbrella for Dan. Draw a discharge pipe from the factory to the river. \"Let's look at the market for Tiffany's Sweaters. The demand for these sweaters will be based on consumers' tastes, incomes, the prices of substitutes and complements, and the number of consumers in the market.\" Graph a normal downward-sloping demand curve. \"The supply curve for Tiffa ny's Sweaters is based on the costs of producing sweaters.\" Add an upward- sloping supply curve to the graph. Label this "Su pply with Private Costs.\" Question\": How would the supply curve shift if Tiffany got her materials for free? How would the curve shift if she did not have to pay her workers? Can she avoid paying her workers? Why or why not? Meanwhile, the byproduct of sweater production is toxic sludge. Draw thick lines representing this sludge from the factory's discharge pipe. This siudge is dumped in the river. Draw more thick lines of sludge over the stick figure and into the brewery. Dan's day at the beach is ruined. He's covered with goop. Pat's beer is ruined. The entire production run has been contaminated. These are real costs associated with Tiffany's sweater production, but Dan and Pat also pay these costs. Tiffany does not consider these external costs when making supply decisions. How can she have avoided paying those costs to Dan and Pat? Explain your answer. Return to the supply and demand graph. Draw a new supply curve to the right of the original curve. Label the new curve \"Supply with ALL COSTS. Where would the supply (of Tiffany's sweaters} with ALL costs be located? Explain the difference in price and quantity

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