Determine the term marginal social benefit

Reference no: EM131774335

Question: Explain these questions

1. Compare the Marginal Revenue Curve for a firm in the PC-market with the Marginal Revenue Curve for the monopolist.

2. Explain in your own words why a company that creates a negative externality will over produce compared to the output level that society wants. Use a graph and refer to the terms "marginal social benefit" "marginal social cost" "marginal private cost" "marginal private benefit."

Reference no: EM131774335

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