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se the diagram below to answer the next three questions. a. What price and quantity will the firm in the diagram produce? b. What's the

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se the diagram below to answer the next three questions.

a. What price and quantity will the firm in the diagram produce?

b. What's the socially-optimal price and quantity?

c. In the absence of government intervention, will this firm produce too much or too little?

image text in transcribed

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