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Negative externality leads to market inefficiency

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Reference no: EM133269067

Question 1.

Using demand and supply diagrams, show the difference in deadweight loss between a market with inelastic demand and supply curves and a market with elastic demand and supply curves.

Question 2.

Using a supply and demand diagram, demonstrate how a negative externality leads to market inefficiency. How might the government help to eliminate this inefficiency?

Reference no: EM133269067

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