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Question 76

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Figure: Correcting for Market Failure Use the following to answer questions: Figure: Correcting for Market Failure -(Figure: Correcting for Market Failure) There is an external cost in the market illustrated in the figure Correcting for Market Failure. If the government intervenes to correct for the external cost, the new _____ will now reflect _____ costs. A) supply curve S<sub>1</sub>; private and external B) supply curve S<sub>2</sub>; private but not external C) supply curve S<sub>2</sub>; private and external D) demand curve (not shown) ; external but not private
-(Figure: Correcting for Market Failure) There is an external cost in the market illustrated in the figure Correcting for Market Failure. If the government intervenes to correct for the external cost, the new _____ will now reflect _____ costs.


A) supply curve S1; private and external
B) supply curve S2; private but not external
C) supply curve S2; private and external
D) demand curve (not shown) ; external but not private

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