2. Show on a diagram how a negative external effect can lead to a situation where marginal social cost will exceed marginal private cost at the profit maximising output. Explain briefly how bargaining could lead to an improvement in welfare.

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A: Marginal cost is the additional cost incurred in order to produce an additional unit of output. 

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A: Answer to the question is as follows:

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A: Answer to the question is as follows:

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A: Answer -

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A: Answer to the question is as follows:

Q: Hebrews, the Greeks, and the Scholastics with regard to what constitutes a “just price.”

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Q: compounde CO Dour after 10 year

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