Long Island University Social and Market Demand Questions

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8. Graph the following data on social and market demand: LO3
Market Quantity Social Quantity
Demanded
Demanded
Price ($) (units per month) (units per month)
20
10
20
18
20
30
16
30
40
14
40
50
12
50
60
10
60
70
a. Does this product have external benefits or external costs?
b. How large ($) is that externality?

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