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Consider the market for first-aid training classes

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Question: Consider the market for first-aid training classes. Market demand is given by P = 600 - Q. Market supply is given by P = Q. Individuals who have received first-aid training are very helpful in some urgent situations which is captured in a positive spillover, or externality, equal to Q/8. This is thus an external benefit related to the consumption of first-aid training. What is the deadweight loss if the externality is not dealt with?

Reference no: EM133599636

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