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Use the Following Graph of the Refined Petroleum Market to Answer

Question 9

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Use the following graph of the refined petroleum market to answer the questions below.
Use the following graph of the refined petroleum market to answer the questions below. -Which area represents the net gain to society? Should the reduction in output from Q<sub>C</sub> to Q<sub>E</sub> take place? Why or why not?
-Which area represents the net gain to society? Should the reduction in output from QC to QE take place? Why or why not?

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Area D represents the net gain to societ...

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