Would too much or too little of the good be produced

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1. If, in exercise 8, the MC and MSC columns were reversed, you would have an example of what? Would too much or too little of the good be produced?

2. Compare a ban on trans fats to a ban on cocaine. What do the markets look like? How are they different? Which ban would be easier to enforce? Explain.

Reference no: EM131335279

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