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Tj 1 0 0 1 63.4 219.1 Tm (We ) Tj 1 0 0 1 79.9 219.1 Tm (also ) Tj 1 0 0 1 99.6 219.1 Tm (attempt ) Tj 1 0 0 1 131.8 219.1 Tm (to ) Tj 1 0 0 1 142.6 219.1 Tm (investigate ) Tj 1 0 0 1 189.6 219.1 Tm ('efficient' ) Tj 1 0 0 1 231.8 219.1 Tm (taxation ) Tj 1 0 0 1 267.1 219.1 Tm (under ) Tj 1 0 0 1 292.3 219.1 Tm (MPC ) Tj 1 0 0 1 316.3 219.1 Tm (regulation,6 ) Tj 1 0 0 1 365.3 219.1 Tm (where) Tj 1 0 0 1 53.3 207.4 Tm (the ) Tj 1 0 0 1 70.3 207.4 Tm (regulator ) Tj 1 0 0 1 109.7 207.4 Tm (allows ) Tj 1 0 0 1 139.7 207.4 Tm (the ) Tj 1 0 0 1 156.7 207.4 Tm (firm ) Tj 1 0 0 1 177.4 207.4 Tm (in ) Tj 1 0 0 1 188.2 207.4 Tm (the ) Tj 1 0 0 1 204.5 207.4 Tm (core ) Tj 1 0 0 1 226.6 207.4 Tm (market ) Tj 1 0 0 1 257.5 207.4 Tm (to ) Tj 1 0 0 1 270.0 207.4 Tm (retain ) Tj 1 0 0 1 296.9 207.4 Tm (only ) Tj 1 0 0 1 318.2 207.4 Tm (a ) Tj 1 0 0 1 326.6 207.4 Tm (share ) Tj 1 0 0 1 351.8 207.4 Tm (of ) Tj 1 0 0 1 364.1 207.4 Tm (profits) Tj ET Q endstream endobj 105 0 obj << /Type /XObject /Subtype /Image /Name /Ob105 /Width 1416 /Height 460 /BitsPerComponent 1 /Length 34765 /Filter [ /FlateDecode ] /ColorSpace /DeviceGray >> stream x?͏?H??I%Ao???}Z5V-F?{U???Fk? ???????@??%??*??I ?>R?(?c??9A% ?94??ا??(?à??&?L?????(???????ٰ?p??{|f4ڳ?L???>J???@q߲??7??'?߱??;??[??߾?+?? ??6??f`yxuJ ???l??o?JNf??ʿP?R??*!i?^]???d?e-?z?ٰ=E?dg???[??a?֪?v??=?????&q??k? ?"?8?ZeU?ܦFh???_???,_???J???5?E?Sۥ?2;?Mz3?S???탓tr??,?ͭ??W6/?])?????w?I???y??֫?5???;?? ?????????S??????8?M??2,Ut????*?dQ^??????v???w??v3Fc8??Z?uTNe????%?A?xhf6x+u?d?9U`???W?\|?`??P?8A%L?Χ_Fpz ????B??K??"+??{????4V?E??l+??Ǫ??7???E?@???. ?aG}+??dVvH????l? ]*W?g? \??F0??????+?u??7?vh$e?? ?ٗ??;a???????&3?*e?mw?Q???ס??el=??k?=N?`???w??ئ\?9%?̜???[?? ?Mg9?^>w ????M??4?&+??????H??>???B??2IrڀvX;v???? 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'?]y???D[W??0?J?J'?|$???#Hw ^????Bm?!Yor3?? ?[o?7??԰???z??eLwÚæ??̯7??Ĺ???(aN?????N??P??䩜)$???&??J?? ??>ֱo ??b-??{Z?'+bY??? 1?E??[?@?.?.?e?9???L3mZ{?X? ?<kF4'?4??i?NET????g??A?"<??.??#???.!Ƥ??X?J?I??O!?b??R??4Uf+5??ʬmm???w2?*W?8,q???%?n??ߚ?????}!??2q??A )??Y4D??HM??.??T? ?b?%?GB<”.??>0L?j?x)??1?>??\b}??c??B?8i???g??}?b????1?@ ?C?\?Ok??E,?c ?3Y^g??{?X]?IJ$?d?s?1F)?? ??l'?w??ږ?&?????iEI????.ʓUz??F?Wx?@L?j??IJb????w.^6??7??KdR???R?jbk????JƼ??1?\Iy?2NO3?CC?w B????3?7;?#}5?ic?g???#??G??cL*?4????^?G?q??M?v??ҝa|x??mv >M(5B?!??Y??ƭ???-q?y????1?X?:b??rW?I-.??Z?#1ٌ?9?@???ļcG?????? oil?1K?Uo???0?? ?G???????o??+?b LhBv0???ߡ]??Se?? ?K??*Cj??h/ ? ?RӼ?0?9??^Ug???Ŭ q?䢇?J?q?iѿf}CV??=? -.??3?6?=?Ȼ~??C??8Ă?@??-lc?<轥vC+???W?毅]Ꚛ?0a??P?<{5???Ġ??p?.?㓤0S?4????Ћ??c????G:???%??g٫??xR\?Ƴ??gg?e?).N?YƋ峎??2^???,???Y??g?C???x??b????2?v7}T???fk???x-b\?ȳ??g-'?e?1.Ld32?^x?ǝ\?XV??,3q*?c?J?-???#??Z?Α?h?pf{M??=-q?S??q????gbu.??U?l8???*\5 ?u???????ʘQ.?[??Ed?X???#uLD????밊??ޖCOH?G??Qf0??n?%!?v??? ?Q1?????iB\?????g???k??b>bJ??z?۱?8B??X=?G?Ę?Jg??'ˌûT??;C?Ѐʡ??e,3?&2&##ֿ??_Z?????Y??&??QS'?H?l? ?%a?(~b??N]ֳ,??k???16W?ν鸕??!fo?ǎ8??x???W???t?W?_??䴉?ݬp>O{U?$?qj2?IA??I??]3C?ԗR?? @?ܑ*q?H?> stream x+TP061г0PA##=S3S=s#CsS=3 ??\}?$C3?|?@?d 4 endstream endobj 148 0 obj << /Length 5672 >> stream q BT 3 Tr /FontHelvetica 9.0 Tf 1 0 0 1 66.0 369.1 Tm (The ) Tj 1 0 0 1 85.9 369.1 Tm (problem ) Tj 1 0 0 1 122.2 369.1 Tm (facing ) Tj 1 0 0 1 150.7 369.1 Tm (the ) Tj 1 0 0 1 166.6 369.1 Tm (regulated ) Tj 1 0 0 1 208.1 369.1 Tm (firm ) Tj 1 0 0 1 228.5 369.1 Tm (then ) Tj 1 0 0 1 248.6 369.1 Tm (is ) Tj 1 0 0 1 258.7 369.1 Tm (to ) Tj 1 0 0 1 270.2 369.1 Tm (choose ) Tj 1 0 0 1 302.2 369.1 Tm (y ) Tj 1 0 0 1 307.4 369.1 Tm (1 ) Tj 1 0 0 1 314.4 369.1 Tm (and ) Tj 1 0 0 1 332.6 369.1 Tm (Y ) Tj 1 0 0 1 338.2 369.1 Tm (2a ) Tj 1 0 0 1 349.0 369.1 Tm (in ) Tj 1 0 0 1 360.5 369.1 Tm (order ) Tj 1 0 0 1 384.5 369.1 Tm (to) Tj 1 0 0 1 56.9 356.9 Tm (maximize ) Tj 1 0 0 1 98.6 356.9 Tm (its ) Tj 1 0 0 1 110.9 356.9 Tm (joint ) Tj 1 0 0 1 133.0 356.9 Tm (profit ) Tj 1 0 0 1 157.7 356.9 Tm (function ) Tj 1 0 0 1 194.4 356.9 Tm (subject ) Tj 1 0 0 1 224.9 356.9 Tm (to ) Tj 1 0 0 1 235.7 356.9 Tm (the ) Tj 1 0 0 1 250.8 356.9 Tm (binding ) Tj 1 0 0 1 285.4 356.9 Tm (price-cap ) Tj 1 0 0 1 325.7 356.9 Tm (constraint ) Tj 1 0 0 1 368.4 356.9 Tm (in ) Tj 1 0 0 1 378.0 356.9 Tm (Eq.) 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Tj 1 0 0 1 65.8 216.2 Tm (The ) Tj 1 0 0 1 85.2 216.2 Tm (necessary ) Tj 1 0 0 1 127.7 216.2 Tm (conditions ) Tj 1 0 0 1 174.0 216.2 Tm (for ) Tj 1 0 0 1 189.1 216.2 Tm (profit ) Tj 1 0 0 1 214.8 216.2 Tm (maximization ) Tj 1 0 0 1 273.1 216.2 Tm (are:) Tj 1 0 0 1 145.4 202.3 Tm (-1) Tj 1 0 0 1 80.6 199.9 Tm (iJ..'t'!iJYl ) Tj 1 0 0 1 114.5 199.9 Tm (= ) Tj 1 0 0 1 123.1 199.9 Tm (\(1- ) Tj 1 0 0 1 143.5 199.9 Tm (T1\)[pr ) Tj 1 0 0 1 175.0 199.9 Tm (-iJF ) Tj 1 0 0 1 201.1 199.9 Tm (-C1\(Yl\)]) Tj 1 0 0 1 123.6 182.9 Tm (+ ) Tj 1 0 0 1 134.2 182.9 Tm ([iJP2!iJYl ) Tj 1 0 0 1 171.4 182.9 Tm (+ ) Tj 1 0 0 1 181.4 182.9 Tm (\(iJP2!iJY2\)\(iJY2b!iJYl\)]Y2a ) Tj 1 0 0 1 283.2 182.9 Tm (+ ) Tj 1 0 0 1 290.6 182.9 Tm (iJF ) Tj 1 0 0 1 308.6 182.9 Tm (= ) Tj 1 0 0 1 317.8 182.9 Tm (0, ) Tj 1 0 0 1 380.4 182.9 Tm (\(6\)) Tj ET Q endstream endobj 149 0 obj << /Type /XObject /Subtype /Image /Name /Ob149 /Width 1416 /Height 364 /BitsPerComponent 1 /Length 13457 /Filter [ /FlateDecode ] /ColorSpace /DeviceGray >> stream x?Oo?H{????p ?c䢃??>?h9??H?9/??S???Y?_@F???^?>,? r????B9{?n?}ya}?eGA???0@??e??T?l???H?#? ?gwZ?S,?ꩧ???aјy???>o????w???N??e??g\?E?Ỽy~??'=??<П??67?0????b?ʔ??>??,6+????z@:?????"?Ƙ3????ϝ$2 ??&??qa?#???J???HB}+?@V*?}M援???$@??Rd???2?X?8?4?eԥ?????n[?Do?_,a?DC??"???MJ??N??⟕?22?od@[???,G?WQU???? 5????m(?A?=??\???g{J6??+?_?5Feʛ???2??KD???Kj`????9??kZ?g?l?????4?d?O?V$???Ool?????ө!??T??=?????DY???!??A??????:?D???;j?& ?F?ź |?7??Ѷ+D+3?#3?Vd2S?:???????c&G???v?vޙB?C??j??+????cU?o???9R???????r~?;dx-y??2?j??H??H}??i+???_?]hϿ]#???ܰQ??ߐہ??G?U???b???-pc???+<~?f݌{???????=?B???Y???󁡦x^ŷ???X?5?3??/0???:w??FN[`?I??s\b?{@?Ӹ???? ?c??݂?Y??????Á??𞀕???T5?~kQ???%?X??iD???ށŅ?????\|J""??ۤ??7쇤???5????{ۀm=|??????.?m?R?p??s?ޮ??G;n?YZ 4齘?h?v???X?BW?;?????O_⃀???3?E(o?4uo????u???z???a\M?r?xn?v3?`,A?????.ۭ;?x??2?:?/.????D8?3?6b??[?3?՗2x?rmdM?[??[/ڊ????p?? ^!?K????!?a}? ?^?~^?k?Y{?*n7?n?wP? 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OD?O?????rN>???4??0?pn䁩LXnG??8r?W????I???3??ܠ??\?Lw???V?????t? 0?+? ??D?????-?Xn?f?y?kJ ,?"a?\]???Jh*n?a??t?fM)%???V?,Ok?????????Y??????jU??._ 0dž??3?A%(?s/?=y?R?T <]???|.8G·??A?)?!?%>Rȭ:??J?$???˥^IxD??9?Dt????^???P?P\???6?J?u??8?W`"?"a?V=I???R???sH,2???̙NJ-? ?'X??Tit?????by?s?(?v ??c??c?%RćTU??t??!?6?O??W??Q????J@??e`?c%???ҡv?HR?R h??7N?? 0_V??-">?? ?p??=?nMF??;'?B??j$,???{?1,??k9???A˝?x`??>x??C????8s/???Uq??a6?.?????χyw?a??jM???辻uw???ֹwz`????u???.????@)?v?>AϮ??7{?E?=o>~???=?vz?e?;o?s?Kr???K?,z?9?Y??so)w??????$? ? ?B??:؆[cP?wV?Mp?(???~??5f??{n?2o?qoߙlQ_?[?-???????j?????w????O?uz?*V?n???Ͱ?w<1g~???]Ffp??)-?'?-?M?0|??ۗ??>m??n??f?芁?l' F????/??0!=?8D?OM???(?|~??0f??U?5ql=???o1???|#{>?;/?z?_???Zf?t??]y<)???@Y???t!???,???VUK?& ????k?R.?2 ???\?}&`&?,???0??1K???**a\???k?p?n?iH??K????:pL??W???|????~7?~?dk5??????؊}Ы?hYR?zTkp?Y{?%Bb?/B????p70?WTRPT:$??'n?0?p?oR??? ??^?'???fK?6 ?I?????7????i??(??IO?=aq??????|??[{???I???0>$b) 0F?9?C??b??n?0?2?nF???nu??O& ?/}? ?Q?? E"?ޡ???]?:???"A?XG???R?M@Jȋ??' ??e3???/?)P7]Wql+i??aS?0y??d2??V???G??g?ж? ???=????]???????)D??'Т?|3ҲD?v> stream x+TP06?Գ0Q0BsC=C=# S# =??\}?$CSK?|?@??  endstream endobj 161 0 obj << /Length 1979 >> stream q BT 3 Tr /FontHelvetica 9.0 Tf 1 0 0 1 42.5 590.4 Tm (production ) Tj 1 0 0 1 88.3 590.4 Tm (of ) Tj 1 0 0 1 99.6 590.4 Tm (the ) Tj 1 0 0 1 115.0 590.4 Tm (core ) Tj 1 0 0 1 135.4 590.4 Tm (good ) Tj 1 0 0 1 158.6 590.4 Tm (\(y,\). ) Tj 1 0 0 1 181.9 590.4 Tm (Also, ) Tj 1 0 0 1 206.4 590.4 Tm (in ) Tj 1 0 0 1 217.2 590.4 Tm (order ) Tj 1 0 0 1 240.7 590.4 Tm (to ) Tj 1 0 0 1 251.5 590.4 Tm (examine ) Tj 1 0 0 1 289.4 590.4 Tm (market ) Tj 1 0 0 1 320.4 590.4 Tm (conduct ) Tj 1 0 0 1 355.4 590.4 Tm (in ) Tj 1 0 0 1 365.5 590.4 Tm (the) Tj 1 0 0 1 42.0 578.4 Tm (non-core ) Tj 1 0 0 1 83.0 578.4 Tm (market ) Tj 1 0 0 1 114.7 578.4 Tm (we ) Tj 1 0 0 1 131.8 578.4 Tm (consider ) Tj 1 0 0 1 170.4 578.4 Tm (Coumot ) Tj 1 0 0 1 207.8 578.4 Tm (competition ) Tj 1 0 0 1 260.6 578.4 Tm (in ) Tj 1 0 0 1 273.4 578.4 Tm (which ) Tj 1 0 0 1 302.9 578.4 Tm (aYzb/aYZa=O, ) Tj 1 0 0 1 363.4 578.4 Tm (and) Tj 1 0 0 1 42.7 566.2 Tm (\(quasi\) ) Tj 1 0 0 1 74.4 566.2 Tm (perfect ) Tj 1 0 0 1 106.1 566.2 Tm (competition ) Tj 1 0 0 1 157.4 566.2 Tm (in ) Tj 1 0 0 1 169.2 566.2 Tm (which ) Tj 1 0 0 1 197.5 566.2 Tm (aYzb/aYZa= ) Tj 1 0 0 1 247.0 566.2 Tm (-1.) Tj 1 0 0 1 51.6 554.6 Tm (The ) Tj 1 0 0 1 71.8 554.6 Tm (profit ) Tj 1 0 0 1 97.2 554.6 Tm (function ) Tj 1 0 0 1 133.7 554.6 Tm (of ) Tj 1 0 0 1 145.7 554.6 Tm (the ) Tj 1 0 0 1 161.8 554.6 Tm (unregulated ) Tj 1 0 0 1 213.6 554.6 Tm (firm ) Tj 1 0 0 1 234.0 554.6 Tm (in ) Tj 1 0 0 1 244.8 554.6 Tm (the ) Tj 1 0 0 1 261.1 554.6 Tm (non-core ) Tj 1 0 0 1 301.2 554.6 Tm (market ) Tj 1 0 0 1 332.2 554.6 Tm (is ) Tj 1 0 0 1 343.4 554.6 Tm (given ) Tj 1 0 0 1 368.9 554.6 Tm (as) Tj 1 0 0 1 67.9 535.9 Tm (7Tb ) Tj 1 0 0 1 79.4 535.9 Tm (= ) Tj 1 0 0 1 86.9 535.9 Tm (pz\(y" ) Tj 1 0 0 1 116.2 535.9 Tm (Yza ) Tj 1 0 0 1 130.6 535.9 Tm (+ ) Tj 1 0 0 1 139.7 535.9 Tm (YZb\)YZb ) Tj 1 0 0 1 171.4 535.9 Tm (-CZb\(YZb\)' ) Tj 1 0 0 1 366.2 535.9 Tm (\(8\)) Tj ET Q endstream endobj 162 0 obj << /Type /XObject /Subtype /Image /Name /Ob162 /Width 1416 /Height 320 /BitsPerComponent 1 /Length 10839 /Filter [ /FlateDecode ] /ColorSpace /DeviceGray >> stream x??o业?Y?F????^z?ػ??9X???1???k?N?E K5???,ֹ??B?9i?+`?ć\? ?o?r?0l?F??#%??\v?3=?m?8?%????~?(?#???m%???V??@????gn??g&xd?e??$|5~b?׳?|??Gj?g~?'?????????O|????ޮ?骄&_z?+?????|???[?M??}ϫ9?L?>p?NϮܼa??8?bW?pY?p? ?}?????m'D?#?TG?T?X?A¥s?nϪ?=??m????? 3??٬?M? ????"ܺ\t9??yZ??]jW??˟t??????lV?&??c?Í??? g W????X?]N?C]??I??c?(?8???U9?ͻ(l?>d??l??Wu|M?I?q0?R?6J?^???A??I.?"wU ???Ա8???7 ?r?=-AcW?+a??&???yZߐX???Ԭ?M??J?j?A;???H???u?????x??m???t1??%s???Qjuu%??|s???;{/?????#??????n???NW?6?p?<`U+]?Šij????4?H#W??N?$|]?ʻ?????BJ??x?o????oN~?˿?S.Ϟ??ggT???hv?c"???0? 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L?n(^??$)?4g?&???h?d?o'&????O? ?)?V?O? ??????n??im{??]????sO??{???Ȼ???w???ǣL%y??= [" ?@q(?`0?N?#?"????a?M?3??P????rH?P?,s!??й?Å?1.'~?Ո?????> ?5???#$02??VE~??#N?>ĬM? O J??(?2,?WT/?Y?????H?2???Y?~O?϶?ū?g??)dDy?H?i?9d?+2?????Ȋf??M?N?/?S?W~?qy '?d??7??? ?=mz?3v*??=(e?f?M??/4.`R? B???M?_?G?ʎ̏v??O3? ʖ?N?W???Q?=?hJ]Y??r?L?>??F??Q?a????fk1_h???`Xa?e?#??????dwO?F̅V?țY?J ?}?U?J???ʋ:? ϊ?u???L???8d??G;?Y?? e?S91c???ˌ?d?????[??~|d .?O?e??????/?1oR???|?V????kH?5??ced%( J!R?|#?Г??-8=}???+Ν?=?]f?FJ????$??ߊ?!? ??%?d,?p?M?sd????[???2?K?z???l??ܹb?θC+l]?j ???x粺}A? ?p?1=?`???*??FOĤcjҞ??l?i?\?O8?????bZ?*v??zF-?V???P?@!?U???I}p??B+MB?3^???d???lQ?/{a?t?A?.\u/?3?z???iu,??,T??4?1???/????yrY??z????!֕?!??1?[???l?xP?:??? 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X+AȔ?@????)?*?U?????N??آ%S??/? ZQSCpŏ??0Ф?L@?C ? 3????A?k?A????d Yȁ?????E???PS ??p0?=??V?@?^E~?B[??1???|W*'W???J??5bR?ߢ?c[ZͤZ?h?DRb0?z/??P?T[??*??? d???8?*?????4??&dmiz ??)?u???n$W?|?9@o$?t?? '??OQ?A?4?'?J?K?? ?X?gJq?+?Ƚ? S?)`??6 ????&d.y??ĕ?Q ??? ?c?WT?@F??lj?d28W??"??z??r??$?S1??????ߢDzC'??1???????\??????k???B?&??? ?Cn^и??????n&?v?3zlG???^?Ԙ?h?$???G ??!\?P??)?EE7?-?C:E??Mݥ?4?y?^????:????b? ??kL*??L8?? r}?!r??ZM?1???2?A??2f?R+?? ??@O??????int???jW|??B ?AN?1NN'???>?G??H?]?2?o,?^?w??}=B?%:?"?$0β x22jx??>j?ǔ?"?iA??r?q??1?P%;???ye0Ȑ? ????_s????uq?$g??\?Í???WhYOW?M?nM4 ??-Ƒ1???A??U????U???u?7?E?=??? :?c?0?pre0ȲX???U???u???^1?A?lR?lv?p]ް?[g???e?kȃ:?"x??2??]{??B??;????N!??w??%??????-?;*_K?7??=??q??%?k?[|Y??5?롆?r??%? ySq???.? 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S???V3u??l7????W?UÜ6?V???q??M?°??ɕM+??ak`?>?w7???5???;_?5p?X?M??t^T?7??|?> stream x+TP06?Գ0Q0BK= SK=S## =C3??\}?$cc#?|?@??  endstream endobj 334 0 obj << /Length 2817 >> stream q BT 3 Tr /FontHelvetica 10.0 Tf 1 0 0 1 70.1 513.4 Tm (If ) Tj 1 0 0 1 79.9 513.4 Tm (the ) Tj 1 0 0 1 95.5 513.4 Tm (non-core ) Tj 1 0 0 1 135.1 513.4 Tm (market ) Tj 1 0 0 1 165.6 513.4 Tm (is ) Tj 1 0 0 1 175.4 513.4 Tm (characterized ) Tj 1 0 0 1 232.8 513.4 Tm (by ) Tj 1 0 0 1 246.0 513.4 Tm (perfect ) Tj 1 0 0 1 277.2 513.4 Tm (competition, ) Tj 1 0 0 1 331.2 513.4 Tm (then ) Tj 1 0 0 1 351.8 513.4 Tm (h2a ) Tj 1 0 0 1 365.0 513.4 Tm (<0 ) Tj 1 0 0 1 381.8 513.4 Tm (and) Tj 1 0 0 1 60.2 500.9 Tm (ap2/aY2=0. ) Tj 1 0 0 1 115.0 500.9 Tm (It ) Tj 1 0 0 1 124.8 500.9 Tm (follows ) Tj 1 0 0 1 159.8 500.9 Tm (from ) Tj 1 0 0 1 182.4 500.9 Tm (Eq. ) Tj 1 0 0 1 202.1 500.9 Tm (\(22\) ) Tj 1 0 0 1 223.9 500.9 Tm (that ) Tj 1 0 0 1 242.4 500.9 Tm (P2>C~:\(Y2a\) ) Tj 1 0 0 1 301.0 500.9 Tm (and ) Tj 1 0 0 1 319.9 500.9 Tm (there ) Tj 1 0 0 1 344.6 500.9 Tm (is ) Tj 1 0 0 1 355.9 500.9 Tm (an ) Tj 1 0 0 1 370.1 500.9 Tm (under-) Tj 1 0 0 1 60.5 488.9 Tm (production ) Tj 1 0 0 1 107.8 488.9 Tm (distortion ) Tj 1 0 0 1 149.8 488.9 Tm (in ) Tj 1 0 0 1 160.6 488.9 Tm (the ) Tj 1 0 0 1 176.6 488.9 Tm (non-core ) Tj 1 0 0 1 216.0 488.9 Tm (market.) 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Ncĉ췮4?1??b}?? 1ʳ$,^82J?!V@?N?[?1?T?HTY?c?glf???a???Vo?os?VHƚ???O0-?8?V#0?????D???8F??8??????\?K.0?r?1?k?c???:b??׈/?`J?(????$?+?bE??9g?#Ī??S???iG? ?2Ջ?/?WFO??{2???a?'H?=???Z7 3??TN??8???>q???t?a ?"?bӊR??h???????< ?#??Lj?OL1?If Da!??????a?@?[?Ӻ??%?9?y??$????+?a??Lg?=^???ީ?'D?1g?d??Ą?????C#?.dQ?.?????DV??l?????]??C???? s?>1w}V?/?I???.?e??K??63?ięԉ?????9Ͱ!???(G?????)?1?#???^?0?T{??P?<;mn?Q?q?)?A??.????n????{???Dx???? ?4ô?7 W?????Ư?D?@?H???@$????oڒ??b?????ۊ|y馲?,J???@/?JZ?/?G<N'㒙k??b,??Gj??>Cr_?'ڷIܭ?ý??31?q?^??>?y??[z????? }??Aȼ? ?]u??z??/,Vo??n???l????8?????????vn??x??+?M?כ=X??????/F?ͫ$?a0?????+hE??'6?`???0?$??Y?n??"??o??^C6%??w??@\???a?u??a????????W?öN???5b?C?k?6?| ?x?Sz?1??,,?@Z?50???m4h?b?ܹ?؟?.=n??N3?9Ue?l?C??>-2Yd?a*?OQ??????#??ٖT?x?,??p??????j|??_??t? ?~?q?"?l??)?????⮟DL?bǀӎ?b??ʼnf?y,?=)w?? 㼽??F???E??4V?#?'C̃???f?1?ư??2?!V?n#??uJ?H+??3JV??+?9?-~]:k'?յ?U?T}bٴcjv???r?%?촄?-9P???u??첟?f??H?!?m?s????1?2W?7??O ????1?S?#n?4???Zk?|????e#-??Z?????c???4K???/Y͑?O,?P??bvݗ??;C?7??>?#[??X?N}~um_5?)?͏1????=%ܱ??ڑ?!֝???q샛4??P?uڏJ?;?-u???\????\?\>????`ly?mG> stream x+TP061г0PAKK= S =S3c##?????dll??????  endstream endobj 337 0 obj << /Length 3691 >> stream q BT 3 Tr /FontHelvetica 9.0 Tf 1 0 0 1 59.5 412.1 Tm (where ) Tj 1 0 0 1 90.0 412.1 Tm (t ) Tj 1 0 0 1 100.3 412.1 Tm (\(>0\) ) Tj 1 0 0 1 126.2 412.1 Tm (is ) Tj 1 0 0 1 138.2 412.1 Tm (profit ) Tj 1 0 0 1 164.9 412.1 Tm (tax ) Tj 1 0 0 1 182.2 412.1 Tm (on ) Tj 1 0 0 1 196.3 412.1 Tm (the ) Tj 1 0 0 1 213.6 412.1 Tm (core ) Tj 1 0 0 1 236.4 412.1 Tm (good, ) Tj 1 0 0 1 264.0 412.1 Tm (m ) Tj 1 0 0 1 276.0 412.1 Tm (represents ) Tj 1 0 0 1 322.6 412.1 Tm (any ) Tj 1 0 0 1 342.0 412.1 Tm (of ) Tj 1 0 0 1 354.7 412.1 Tm (the ) Tj 1 0 0 1 372.0 412.1 Tm (above) Tj 1 0 0 1 60.2 402.0 Tm (allocators ) Tj 1 0 0 1 101.5 402.0 Tm (\(m ) Tj 1 0 0 1 114.0 402.0 Tm (= ) Tj 1 0 0 1 120.2 402.0 Tm (for ) Tj 1 0 0 1 139.7 402.0 Tm (h\), ) Tj 1 0 0 1 153.1 402.0 Tm (and ) Tj 1 0 0 1 170.4 402.0 Tm (m ) Tj 1 0 0 1 179.8 402.0 Tm (I ) Tj 1 0 0 1 184.3 402.0 Tm (= ) Tj 1 0 0 1 191.8 402.0 Tm (amI ) Tj 1 0 0 1 209.8 402.0 Tm (oy ) Tj 1 0 0 1 219.4 402.0 Tm (1 ) Tj 1 0 0 1 223.7 402.0 Tm (>0.9 ) Tj 1 0 0 1 245.8 402.0 Tm (It ) Tj 1 0 0 1 254.2 402.0 Tm (follows ) Tj 1 0 0 1 288.0 402.0 Tm (directly ) Tj 1 0 0 1 321.6 402.0 Tm (from ) Tj 1 0 0 1 343.4 402.0 Tm (Eq. ) Tj 1 0 0 1 361.2 402.0 Tm (\(24\) ) Tj 1 0 0 1 381.6 402.0 Tm (that) Tj 1 0 0 1 59.3 388.1 Tm (there ) Tj 1 0 0 1 83.5 388.1 Tm (is ) Tj 1 0 0 1 95.3 388.1 Tm (an ) Tj 1 0 0 1 109.0 388.1 Tm (overproduction ) Tj 1 0 0 1 174.7 388.1 Tm (distortion ) Tj 1 0 0 1 217.2 388.1 Tm (in ) Tj 1 0 0 1 228.7 388.1 Tm (the ) Tj 1 0 0 1 246.0 388.1 Tm (core ) Tj 1 0 0 1 268.3 388.1 Tm (market ) Tj 1 0 0 1 300.5 388.1 Tm (under ) Tj 1 0 0 1 326.9 388.1 Tm (MPC ) Tj 1 0 0 1 352.6 388.1 Tm (regulation.) Tj 1 0 0 1 59.3 376.1 Tm (The ) Tj 1 0 0 1 79.2 376.1 Tm (economic ) Tj 1 0 0 1 123.4 376.1 Tm (explanation ) Tj 1 0 0 1 173.8 376.1 Tm (is ) Tj 1 0 0 1 185.0 376.1 Tm (straightforward. ) Tj 1 0 0 1 253.2 376.1 Tm (The ) Tj 1 0 0 1 274.1 376.1 Tm (marginal ) Tj 1 0 0 1 314.4 376.1 Tm (cost ) Tj 1 0 0 1 335.0 376.1 Tm (that ) Tj 1 0 0 1 354.0 376.1 Tm (is ) Tj 1 0 0 1 365.8 376.1 Tm (directly) Tj 1 0 0 1 59.3 364.1 Tm (attributable ) Tj 1 0 0 1 111.1 364.1 Tm (to ) Tj 1 0 0 1 125.3 364.1 Tm (producing ) Tj 1 0 0 1 172.3 364.1 Tm (the ) Tj 1 0 0 1 190.8 364.1 Tm (core ) Tj 1 0 0 1 215.3 364.1 Tm (good, ) Tj 1 0 0 1 243.4 364.1 Tm (C:\(Yl\)' ) Tj 1 0 0 1 281.3 364.1 Tm (is ) Tj 1 0 0 1 295.2 364.1 Tm (offset ) Tj 1 0 0 1 324.5 364.1 Tm (by ) Tj 1 0 0 1 340.6 364.1 Tm (shared ) Tj 1 0 0 1 373.9 364.1 Tm (costs,) Tj 1 0 0 1 59.8 351.6 Tm ([tl\(l ) Tj 1 0 0 1 84.7 351.6 Tm (-t\)]\(mlF\), ) Tj 1 0 0 1 140.2 351.6 Tm (such ) Tj 1 0 0 1 163.2 351.6 Tm (that ) Tj 1 0 0 1 182.2 351.6 Tm (the ) Tj 1 0 0 1 200.2 351.6 Tm ('effective' ) Tj 1 0 0 1 245.8 351.6 Tm (marginal ) Tj 1 0 0 1 287.0 351.6 Tm (cost ) Tj 1 0 0 1 307.4 351.6 Tm (is ) Tj 1 0 0 1 319.7 351.6 Tm (lower ) Tj 1 0 0 1 347.5 351.6 Tm (under ) Tj 1 0 0 1 374.6 351.6 Tm (MPC) Tj 1 0 0 1 59.8 339.1 Tm (regulation ) Tj 1 0 0 1 104.9 339.1 Tm (\(t>o\) ) Tj 1 0 0 1 135.4 339.1 Tm (as ) Tj 1 0 0 1 147.4 339.1 Tm (compared ) Tj 1 0 0 1 190.3 339.1 Tm (to ) Tj 1 0 0 1 201.8 339.1 Tm (the ) Tj 1 0 0 1 218.4 339.1 Tm (marginal ) Tj 1 0 0 1 257.5 339.1 Tm (cost ) Tj 1 0 0 1 277.4 339.1 Tm (under ) Tj 1 0 0 1 303.1 339.1 Tm (PC ) Tj 1 0 0 1 319.7 339.1 Tm (regulation ) Tj 1 0 0 1 364.6 339.1 Tm (\(T; ) Tj 1 0 0 1 376.6 339.1 Tm (=0\).) Tj 1 0 0 1 59.0 327.8 Tm (We ) Tj 1 0 0 1 76.3 327.8 Tm (therefore ) Tj 1 0 0 1 116.2 327.8 Tm (have ) Tj 1 0 0 1 138.7 327.8 Tm (the ) Tj 1 0 0 1 154.8 327.8 Tm (following ) Tj 1 0 0 1 197.5 327.8 Tm (proposition:) Tj ET Q endstream endobj 338 0 obj << /Type /XObject /Subtype /Image /Name /Ob338 /Width 1420 /Height 108 /BitsPerComponent 1 /Length 5467 /Filter [ /FlateDecode ] /ColorSpace /DeviceGray >> stream x?OoGv?{?[?,?P??b??*?K`, ?[?Bg?ȅ ?{?ON?5???? Vݙ?M??\t?"xp jw???{8Hnl?֮lNwu??իW???=??K?'??{?????]??~?^??D?6?z?&???w.?D?r?^,??Y??6[>?s]A|??q???G?&?2?6?????T#??4Al??5bH;??X??]j??"Ƀ??????͏s)??j?ϯ???t?U??,?M?SO???_^5????n??x?q???ex???&???E?ZC`?=?mjE?so?g??V?ᢽ;?t?8?O~qQ?@l?HyՉpQ?S?5?F?IeQ????:??d??]?qh?????'n?d<@vv?????x?dlî??j?[??į??,??et??봫p??&??ku??\??l~?8??5b?pOFI?웯 ?ɚd???}u?HË?@?´??j??խ?lHG?zٮ???J?ۅ?n????]??8?v0?Gi?F:S??3?<ڊ?Mҷ??s??0?N5ỳGu? V?j?x] ɠ??m? ?Aέ??Ѡk?eAq??/遫?Veu??vW???????c????????9qыnU??V?;???~?uCe??I$?Z5o5??:?F|;????lB?q?@??q}5I?m?;?a+?S???#cr?+|u?H׶????veʤf??7?[?ˏ?34?Y?9?!??P??@\:Ϟ???(y??P3,?!?D)I???rBlu-?q?"8?+?"Og???@??*?t"?????/????(???69??rH??׎??f0?q?0=????Y?>??c??d??q????A)#h?W????D?9ƺ#??cBݞ䘾Z??G??b??(\?K?c??Ģa?l)???????p?ݣ?????n????C??5?T?y925݉j`???ئNJ?.U??[?٨/??p?I???<ߒ???x?f???q?!?K??~x??\s?a ???ݛ?`?? ???fS?& ,? ?.????N???tMƯWJƷЕ????k??????+'?5~"ҋ????5b?t?7??5?????a, ????I??l"??_?5J??e?i?5b??J??{???????0?????*???%?y?i???b%?午???-񝭇???????"???e?]?{???%??V????0V ???s??O?????}??s?U??E???Ȓ?b?ٲ??|Wx3?v?t??x??J??hyCram(4?l~????????????b?KY??[<\???ܮ??)W?E?????ԡt??rhxJVJr???¬gn??ϿY??5?E?~@????6??-???INv??M??d??u_?w???S5??ĀH??q?o????]@???m??q9s'?{$.???1N??N???:??g?u#^?0Vpz??OO??9?\??????ڰpnK??/????$I?v?x-???m-2??M\?.?ȷ??b CH?#ך??y~κ?qX??V? s??0^?m???????o$~????? ?7?w?S???:=>?x'?S=?[??qdL??R##3????Cq???b?}o'??"'?Ȝ?\R??U??YGܽ]?r???"?ܭ_F??Ǖ?C???J??K????$??F?? ?q?s??O?H?<9$???"?e?? w??btD??!'??FŸ+,J(?mi?]??+Y&???j??ю?.????G??7?p?i?n?J?A?^???=ُ?k*???5?-;T???5???CL?'Y?̌F?_S??)?$? ??]? ??????H ?|?_?BG?O?򄽁??? v??)?%??#΀/TB?_V????????BLv??'?d??z?tČ? ؂??sjJT ?Z?$?VY?"????@!G?????'?(s??/?=??#~?+?c$"ĝ??K??hH??;0,?? jD??x??l? ??'???5hK?*?G\ÀR0X"x?#q??}?H4[?Q????iA!"??st%?????????????>J??i$6X???Z^?H`?F???d?o?U???,5????%'4??b< ?]?? ???Ѻe?{J??,????? ?b "???|?Z P? 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ZQ?0;?x?????]???O??ɸ1?????????0]Kb,|F o?m?rI?^?B7??q#?15T?3L?Fƛ??.?2?Օ?\?ˆOX???^Vŕ??g?8??!N??`?XLƺ??qI?%??E???e?G+??oҷ\??&?2?$qB?ã?7z ?Z????#\??Jl?j?%?%?:ĕ?+??YΧTݚ???n..??ܐ??/? +?,e??N?ǭVYbԈ??? ?ꋉ??!.T?;?/?6E%????IyH?8{$?????X@}??&Θ?[?AL(?B2^'?ъ?SZϩ ??E?S??qA??:?[?x?A?׈???k?Ҋ?ѓ`?????"}?9?????G6?????k??~.?y???????hm?B??3??8?oO?S ?%O-??ˮ?V?+ ????X?[Wƛ???#?:~K????x?b ?F????(ruem7?'??Ǫ'??_???!'?32.Ӧ?in$??O?> stream x+TP061г0PAC C=???????????Br????????K?B?? ? endstream endobj 392 0 obj << /Length 6721 >> stream q BT 3 Tr /FontHelvetica 10.0 Tf 1 0 0 1 47.0 252.7 Tm (Under ) Tj 1 0 0 1 74.9 252.7 Tm (PC ) Tj 1 0 0 1 91.2 252.7 Tm (regulation, ) Tj 1 0 0 1 137.0 252.7 Tm (if ) Tj 1 0 0 1 146.4 252.7 Tm (the ) Tj 1 0 0 1 162.2 252.7 Tm (core ) Tj 1 0 0 1 182.9 252.7 Tm (good ) Tj 1 0 0 1 206.4 252.7 Tm (and ) Tj 1 0 0 1 224.4 252.7 Tm (non-core ) Tj 1 0 0 1 263.5 252.7 Tm (goods ) Tj 1 0 0 1 290.9 252.7 Tm (are ) Tj 1 0 0 1 306.5 252.7 Tm (complements ) Tj 1 0 0 1 364.6 252.7 Tm (or) Tj 1 0 0 1 36.5 240.7 Tm (substitutes ) Tj 1 0 0 1 83.3 240.7 Tm (under ) Tj 1 0 0 1 109.2 240.7 Tm (the ) Tj 1 0 0 1 126.0 240.7 Tm (assumption ) Tj 1 0 0 1 174.7 240.7 Tm (of ) Tj 1 0 0 1 187.0 240.7 Tm (a ) Tj 1 0 0 1 196.1 240.7 Tm (Coumot ) Tj 1 0 0 1 232.1 240.7 Tm (game ) Tj 1 0 0 1 258.5 240.7 Tm (in ) Tj 1 0 0 1 269.5 240.7 Tm (the ) Tj 1 0 0 1 285.8 240.7 Tm (non-core ) Tj 1 0 0 1 326.2 240.7 Tm (market, ) Tj 1 0 0 1 359.8 240.7 Tm (the) Tj 1 0 0 1 36.2 228.7 Tm (regulated ) Tj 1 0 0 1 77.0 228.7 Tm (firm ) Tj 1 0 0 1 96.7 228.7 Tm (will ) Tj 1 0 0 1 115.0 228.7 Tm (never ) Tj 1 0 0 1 139.9 228.7 Tm (efficiently ) Tj 1 0 0 1 182.4 228.7 Tm (produce ) Tj 1 0 0 1 217.4 228.7 Tm (the ) Tj 1 0 0 1 232.6 228.7 Tm (good ) Tj 1 0 0 1 256.1 228.7 Tm (in ) Tj 1 0 0 1 266.2 228.7 Tm (the ) Tj 1 0 0 1 281.3 228.7 Tm (regulated ) Tj 1 0 0 1 321.4 228.7 Tm (core ) Tj 1 0 0 1 341.8 228.7 Tm (market.) 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