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Suppose the supply curve of motorized scooter rentals in Golden Gate Park is given by: P: 5 + 0.10, where Pis the daily rent per
Suppose the supply curve of motorized scooter rentals in Golden Gate Park is given by: P: 5 + 0.10, where Pis the daily rent per unit in dollars and Ois the volume of units rented in hundreds per day. The demand curve for motorized scooters is: P= 20 0.20. If each motorized scooter imposes $3.60 per day in noise costs on others, by how much will the equilibrium number of motorized scooters rented exceed the socially optimal number? |:| units (in hundreds)
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