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Lopezj273 Lopezj273
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Posts: 447
4 years ago

Question 1.

Figure 11.2.1
Chemical Fertilizer Market




Figure 11.2.1 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. There

▸ are negative externalities of $10 per unit.

▸ are positive externalities of $20 per unit.

▸ are no externalities.

▸ are negative externalities of $20 per unit.

▸ is not enough information to determine if there are externalities.

Question 2.

Figure 11.2.1
Chemical Fertilizer Market




Figure 11.2.1 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. The marginal private benefit is the same as the marginal social benefit. If the market is unregulated, how many units are produced?

▸ 1

▸ 2

▸ 3

▸ 4

▸ 5
Textbook 
Microeconomics for Life: Smart Choices for You

Microeconomics for Life: Smart Choices for You


Edition: 2nd
Author:
Read 163 times
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Kutthroat K.Kutthroat K.
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Posts: 405
4 years ago
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Lopezj273 Author
wrote...
4 years ago
This site is awesome!
wrote...
4 years ago
Slight Smile Good luck on the rest
wrote...
4 years ago

Question 1.

Figure 11.2.1
Chemical Fertilizer Market




Figure 11.2.1 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. The marginal private benefit is the same as the marginal social benefit. If the market is unregulated, what is the market-clearing price per unit?

▸ $10

▸ $20

▸ $30

▸ $40

▸ $50

Question 2.

Figure 11.2.1
Chemical Fertilizer Market




Figure 11.2.1 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. The marginal private benefit is the same as the marginal social benefit. If the market is unregulated, the marginal

▸ private cost is greater than the marginal social benefit.

▸ social cost equals the marginal private benefit.

▸ social cost equals the marginal private cost.

▸ private cost equals the marginal social benefit.

▸ private cost is less than the marginal social benefit.
wrote...
4 years ago

Answer 1

$40

Answer 2

private cost equals the marginal social benefit.
wrote...
4 years ago
Figure 11.2.1
Chemical Fertilizer Market




Figure 11.2.1 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. The marginal private benefit is the same as the marginal social benefit. If the market is unregulated, the

▸ quantity produced is the smart social choice.

▸ marginal social cost is maximized.

▸ marginal social benefit is minimized.

▸ quantity produced is less than the smart social choice.

▸ quantity produced is greater than the smart social choice.
wrote...
4 years ago
quantity produced is greater than the smart social choice.
wrote...
4 years ago
Thank you, thank you, thank you!
wrote...
4 years ago

Question 1.

Figure 11.2.2
Chemical Fertilizer Market




Figure 11.2.2 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. The marginal private benefit is the same as the marginal social benefit. If the market is unregulated, how many tonnes are produced?

▸ 1

▸ 2

▸ 3

▸ 4

▸ 5

Question 2.

Figure 11.2.2
Chemical Fertilizer Market




Figure 11.2.2 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. The marginal private benefit is the same as the marginal social benefit. If the market is unregulated, the marginal

▸ social cost is $120 a tonne.

▸ external cost is $140 a tonne.

▸ external cost is $0.

▸ private cost is $60 a tonne.

▸ external cost is $60 a tonne.
wrote...
4 years ago

Answer 1

4

Answer 2

external cost is $60 a tonne.
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