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ECS3704 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024

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ECS3704 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us.. Analyse with the aid of a diagram, why it may be necessary for government to intervene...

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ECS3704
Assignment 1 Semester 2 2024
Detailed Solutions, References & Explanations

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Due Date: August 2024
QUESTION 1



In the case of pollution created by steel production, government intervention may be
necessary to address the negative externalities, as illustrated in Figure below. The
diagram shows the private demand curve (D = MSB) and the private supply or marginal
cost curve (S_P = MPC).




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