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-Using the above table, the market clearing price for this product is
Diagram
A simplified drawing showing the appearance, structure, or workings of something.
Market Supply Curve
A graphical representation showing the total quantity of a good that sellers are willing and able to sell at various prices.
Output
The total quantity of goods and services produced by an economy, company, or process over a specific period.
External Costs
Costs of economic activities that are not borne by the individuals or enterprises involved in the transaction but are instead imposed on third parties or society at large, such as pollution.
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