referring to the graph, can you please answer this:
1. What is the private value of the last unit traded in the market?
A. P1
B. P2
C. P3
D. P4
2. What is the private cost of the last unit traded in the market?
A. P1
B. P2
C. P3
D. P4
3. What is the social value of the last unit traded in the market?
A. P1
B. P2
C. P3
D. P4
4. What is the
A. P1
B. P2
C. P3
D. P4
5. Which quantity is socially optimal (i.e. what is the efficient quantity)?
A. Q1
B. Q2
C. Q3
D. Q4
6. What is the
A. A+B+C+D
B. C+D
C. C
D. Zero
7. In the stylised model, what is the cost of pollution per high-emission vehicle purchased by buyers equal to?
A. P4-P2
B. P3-P2
C. P2-P1
D. P4-P3
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