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please provide an explanation. thanks. 2. Answer the following questions using the figure/graph provided. Social Cost Private Cost Demand Q1 Quantity a. Which price and

please provide an explanation. thanks.

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2. Answer the following questions using the figure/graph provided. Social Cost Private Cost Demand Q1 Quantity a. Which price and quantity combination represents the social optimum? b. The marginal cost of the negative externality is measured by what? C. Which level of quantity represents that externalities were not internalized? 3. Answer the following questions using the figure/graph provided. TP 32. 24. MC 12 Demand MR 12 16 20 24 28 32 Q a. What is the level of output that would maximize profits for this firm? And at what price will they sell it? b. How much is the firm's total cost? C. How much is the firm's profits? d. If this were a perfectly competitive firm, what will be the profit maximizing priceand output level

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