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The following diagram shows the production of fertiliser by a perfectly competitive ...

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The following diagram shows the production of fertiliser by a perfectly competitive ...

The following diagram shows the production of fertiliser by a perfectly competitive profit-maximising firm. Production of the good leads to pollution of the environment, however. This pollution is an external cost to the firm.

The marginal social cost curve is shown by one of the two curves I or I. Assume that the government imposes a 'pollution tax' on the firm at a constant rate per unit of output. What must the size of the tax per unit be in order to persuade the firm to produce the socially efficient level of output?

▸ C1 — C3

▸ C3 — C4

▸ C2 — C5

▸ C3 — C5

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Essential Economics for Business

Edition: 5^th

Authors: Sloman, Jones

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More solutions for this book are available here

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Coltonht Author

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This helped my grade so much Perfect

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