Given the Following Graph, What Would the Price and Quantity

question 77

Essay

Given the following graph, what would the price and quantity traded be if
a) the competitive market is unregulated?
b) external cost are recognized but external benefits are not?
c) external benefits are recognized but external costs are not?
d) both external benefits and external cost are recognized?

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Definitions:

Zipf's Law

A statistical distribution principle stating that in a given dataset, the frequency of any item is inversely proportional to its rank in the frequency table.

Marketing Communications

The variety of strategies and tools companies use to communicate with their target market, including advertising, sales promotions, public relations, and direct marketing.

Persuasion

The process of influencing someone's beliefs, attitudes, or behaviors through communication.

Persuasion Knowledge Model

A framework describing how people develop and use knowledge about persuasion to interpret and engage with persuasive messages.