Question
The external marginal cost of producing coal is MC external = 8Q while the internal marginal cost is MC internal = 6Q. The inverse demand
The external marginal cost of producing coal is MCexternal= 8Q while the internal marginal cost is MCinternal= 6Q. The inverse demand for coal is given by P = 180 4Q. What is the socially efficient level of output?
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The Business of Tourism Management
Authors: John Beech, Simon Chadwick
1st edition
273688013, 273688014, 9781405871631 , 978-0273688013
