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Give an example of an industry which likely imposes a negative externality. How do we model...

Give an example of an industry which likely imposes a negative externality.

How do we model this situation in a standard supply and demand framework? What is the difference between the social cost and the private cost? What is the relationship between the quantity produced by the unregulated market and optimal quantity?

How do we quantify the harm imposed by negative externalities? How would you explain this harm?

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