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jadinh jadinh
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A year ago

The figure below shows the demand and supply curves for pollution abatement for a firm.

Short description: A demand graph plots the marginal benefit and marginal cost in the case of pollution abatement. Long description: In the graph, the horizontal axis denotes pollution abatement, while the vertical axis denotes dollars per unit. An increasing curve M C and a decreasing curve M B are drawn, which intersect at a point where the abatement is Q asterisk. The endpoint of M B line is where the abatement is Q superscript t, marked 100 percent abatement. The MC line ends before the MB line.

FIGURE 17-3

Refer to Figure 17-3. What area on the diagram represents the net total benefit of abating pollution by the optimal amount?



▸ the area above the MB curve, and below the MC curve, to the right of Q*

▸ the total area below the MB curve, to the left of Q*

▸ the area that is below both the MB and MC curves

▸ the area that is above both the MB and MC curves

▸ the area under the MB curve, and above the MC curve, to the left of Q*
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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juniorpjuniorp
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A year ago
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