Find the value to society of correcting externality, Microeconomics

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Find the value to society of correcting externality

Use the accompanying table to answer the following questions.

Quantity

Private Social

Cost Cost Benefit

1 $ 2 $ 4 $12

2 $ 6 $ 10 $22

3 $ 12 $ 18 $30

4 $ 20 $ 28 $36

5 $ 30 $ 40 $40

a. What is the external cost per unit of output?

b. What level of output will be produced?

c. What level of output should be produced to achieve economic efficiency?

d. What is the value to society of correcting the externality?

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Microeconomics: Find the value to society of correcting externality

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Microeconomics: Find the value to society of correcting externality

Reference No:- TGS0514083

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Cost per equivalent unit for material-conversion

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Q : Find the value to society of correcting externality

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find the value to society of correcting externality

Reference No:- TGS0514083

Recent Questions Asked Microeconomics

Q : Cost per equivalent unit for material-conversion

Q : Operating characteristics and looks

Q : Find price change that identified was result of change

Q : Impact on company culture

Q : Find the value to society of correcting externality

Q : Key steps in the closing process

Q : Types of organizations related problem

Q : Examine major short run and long cost functions

Q : Organizations and the union-management relationship

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