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QUESTION 3 Suppose that the production of product X generates air pollution affecting the health of the residents of a Explain why the socially optimal

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QUESTION 3 Suppose that the production of product X generates air pollution affecting the health of the residents of a Explain why the socially optimal amount of production of product X is: 1) Not zero; 2) Less than the amount a competitive market would produce. What regulatory tools could the government employ to correct this market failure

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