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What is the competitive equilibrium

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An industry has a supply curve MC (or P) $/unit = 10Q0.9. Demand follows P $/unit = 100 – Q1.1. Total external social cost (pollution) (in $ total) = 20Q1.2.

What is the competitive equilibrium? What is the resulting profit, consumer surplus, and external cost?

Reference no: EM13339643

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