Solution-Supply and demand equations

Supply and demand equations

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Reference no: EM131395862

Assume that the market for sriracha sauce can be represented by the following supply and demand equations:

P=Q^s/10

P=10-Q^D/10

The production of each bottle of sriracha sauce creates an external cost of $3 so that the Marginal Social Cost of sriracha production is given by

P=3 + Q^s/10

Find the socially optimal output in this market.

Reference no: EM131395862

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Supply and demand equations

Reference no: EM131395862

Reference no: EM131395862

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