Answer to Question #296880 in Microeconomics for afsane

Question #296880

 Illustrate the market for alcohol, labeling the demand curve, the social-value curve, the supply curve, the social-cost curve, the market equilibrium level of output, and the efficient level of output.


1
Expert's answer
2022-02-14T15:32:37-0500

Equilibrium output is 500

Efficient level of output is 400


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