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Suppose that a firm is located along a river.The firm uses water from the river to cool its machinery and returns the water to the river several degrees warmer,which has led to a decline in the fish population downstream of the firm.
If the firm does not have to pay for the damage to the downstream fish,the market equilibrium price will be ________ and the market equilibrium quantity will be _____.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold in a company, including materials and labor.
Accounts Payable
Liabilities or amounts owed by a company to suppliers for goods and services received but not yet paid for.
Inventory
The total amount of goods and materials held by a company, intended for sale or production.
Investing Transactions
Activities related to the acquisition or disposal of long-term assets and investments not included in cash equivalents within a company.
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