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Question 1.5 Suppose in a water market the estimated MB and MC functions are given as follows: MB=100-0.5Q and MC = 20 + 0.5Q And

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Question 1.5 Suppose in a water market the estimated MB and MC functions are given as follows: MB=100-0.5Q and MC = 20 + 0.5Q And also suppose the government regulates the water market and sets the price at $50. What would be the estimated market inefficiency? Draw the graphs and show your calculations

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