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The demand for wild salmon is given by P = 100 - Q per year. Wild salmon is produced by thousands of independent commercial fishing
The demand for wild salmon is given by P = 100 - Q per year. Wild salmon is produced by thousands of independent commercial fishing firms according to the market supply curve P = 20 Q per year. Harvesting salmon imposes a negative externality on other commercial fishing firms by making it costlier to catch fish in the future. The size of this negative externality is worth $10 per unit this year. a. (4) Find the quantity of fish produced in the unregulated market this year, as well as the price
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