The next few questions are about this generic market with a negative consumption externality. Fill in thewelfare table below with the areas associated with each welfare measure.PSAP.ВP,DEFP.GMSBQ0.Q.Qtax that leads to QoCSPStax revenueexternalitytotal surplusA.) Consumer surplus with the tax is represented by areaа. Аb. A+B+Cc. A+B+C+D+E+F+Gd. B+D+FB.) The cost of the externality at quantity Q1 is represented by areaа. А+В+Db. F+Gc. A+B+C+D+E+F+G+Hd. A+B+C+D+E+HC.) The social surplus at quantity Q1 is represented by the areaa. A+B+C+D+Eb. F+G-Hc. A+B+C+D+E+F+Gd. A+B+C+D+E+F+G-H

Answered: The next few questions are about this…

The next few questions are about this generic market with a negative consumption externality. Fill in the welfare table below with the areas associated with each welfare measure. P S A в 1 D E H MSB

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter7: Market Efficiency And Welfare

Section: Chapter Questions

Problem 2P

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