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Show that when n is a positive integer.

Discrete Mathematics and Its Applications | 7th Edition | ISBN: 9780073383095 | Authors: Kenneth Rosen ISBN: 9780073383095 37

Solution for problem 14E Chapter 5.3

Discrete Mathematics and Its Applications | 7th Edition

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Discrete Mathematics and Its Applications | 7th Edition | ISBN: 9780073383095 | Authors: Kenneth Rosen

Discrete Mathematics and Its Applications | 7th Edition

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Problem 14E

Show that when n is a positive integer.

Step-by-Step Solution:
Step 1 of 3

EXTERNALITIES & PROPERTY RIGHTS ● negative externality = when part of the cost of an activity falls on people not pursuing the activity ● positive externality = when some fraction of the benefit of an activity is received by people not participating in the activity ● if the market equilibrium quantity is greater than the socially optimal quantity, one can infer that… there is a negative externality associated with this good ● if the external benefit of an activity is added to the private benefits, then the demand curve shifts right ● an external benefit implies that private markets will provide too little of the good (relative to the social optimum) and an external cost implies that private markets will provide too much

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Chapter 5.3, Problem 14E is Solved
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Textbook: Discrete Mathematics and Its Applications
Edition: 7
Author: Kenneth Rosen
ISBN: 9780073383095

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Show that when n is a positive integer.