Title: Economic question Post by: s.h_math on Sep 28, 2022 Hi sir, I have a very poor economic professor; I am having trouble with this question. I want to know how I can get the answer to this, calculate the marginal cost, and calculate an optimal choice. There are 60 questions I have to complete, but the textbook doesn't address the same concepts as the assignment itself.
Suppose the total benefit and total cost to society of various levels of pollution abatement are as follows: Complete column (4). (Enter your responses as integers.) Pollution Abatement Pollution Abatement Total Benefit Total Benefit Total Cost 20 33 48 65 Total Cost 20 33 48 65 Total Net Benefit 11 21 20 15 Total Net Benefit 11 18 20 15 Marginal Benefit Marginal Benefit Marginal Cost Marginal Cost using optimization in levels, if the U.S. Environmental Protection Agency (EPA) wants to maximize total net benefit, then unit(s) of pollution abatement. (Enter your response as an integer.) it should require Title: Re: Economic question Post by: bio_man on Sep 29, 2022 Hi s.h_math (https://biology-forums.com/index.php?action=profile;u=1067569)
I'll try your best to help you. Firstly, let's look at the first table. The way you calculate the missing columns is demonstrated in the attachment. Although keep in mind, the numbers are different, but the process is the same if you repeat for your unique set of numbers. I've also attached a sample answer with another unique table. Let me know if that helps! |