3Q2Q3: Both questions correlate with each other. Use the following to complete the graph. Question Q2Identify on the graph below the marginal external cost (MEC) at the market equilibrium. Do thisby drawing an appropriate straight line and using a bracket ("}") indicating the MEC.55050045040035030025020015010050100125150Marijuana (lbs)1754/14200225250275Question Q3Write down the value of the MEC at the market equilibrium using the appropriate units. Makesure to show the values that help determine the MEC value. You should probably use astraight-edge to help determine values.

Externality is the external cost / benefit that is borne by the third party. The positive…

Question Q2 Identify on the graph below the marginal external cost (MEC) at the market equilibrium. Do this by drawing an appropriate straight line and using a bracket ("}") indicating the MEC. 550 500 450 400 350 300 250 200 150 100 50 25 50 75 100 125 150 Marijuana (lbs) 175 200 225 250 275 Question Q3 Write down the value of the MEC at the market equilibrium using the appropriate units. Make sure to show the values that help determine the MEC value. You should probably use a straight-edge to help determine values.

Question Q2 Identify on the graph below the marginal external cost (MEC) at the market equilibrium. Do this by drawing an appropriate straight line and using a bracket ("}") indicating the MEC. 550 500 450 400 350 300 250 200 150 100 50 25 50 75 100 125 150 Marijuana (lbs) 175 200 225 250 275 Question Q3 Write down the value of the MEC at the market equilibrium using the appropriate units. Make sure to show the values that help determine the MEC value. You should probably use a straight-edge to help determine values.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter8: Market Failure

Section: Chapter Questions

Problem 2P: Draw a standard supply and demand diagram for televisions, and indicate the equilibrium price and...

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