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The inverse demand for energy-efficient refrigerators is P = 2,000 - 10Q, where Q measures refrigerators per month. The inverse supply of energy-efficient refrigerators is P = 10Q.
a. Solve for the market equilibrium price and quantity.
b. Suppose the use of an energy-efficient refrigerator reduces carbon dioxide emissions, generating an external marginal benefit of $100. What is the socially optimal quantity of energy-efficient refrigerators?
NAEYC
The National Association for the Education of Young Children, a professional organization in the United States that advocates for high-quality early childhood education.
Education
The act of getting or providing structured learning, particularly in an educational institution like a school or university.
Young Children
Typically refers to children in the early stages of life, often considered to be those under the age of eight.
Post-traumatic Stress Syndrome
A mental health condition that's triggered by a terrifying event, characterized by nightmares, flashbacks, and severe anxiety.
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