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Unformatted text preview: Total External Costs Net Economic Surplus Competitive Market Equilibrium Social Equilibrium Monopolist Equilibrium To identify each point, it helps to think about what the relevant marginal benefits and marginal costs are to each decision maker/setting. Feel free to use answers or information from the class notes. However, be sure that you understand the concepts underlying each equilibrium point. b. Given your answer in Part A, would you agree or disagree that monopolists are good for the environment? Why? 2. Harris problem 1 p. 324. 3. Harris problem 2 a –d, p. 324-325. Think about, but don’t answer the questions following D. 4. Harris, problem 1, p. 351....
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This homework help was uploaded on 11/17/2007 for the course AEM 2500 taught by Professor Poe,g. during the Spring '07 term at Cornell.
- Spring '07