1. Suppose you are selling t-shirts at your own t-shirt stand. The supply and demand curves for t-shirts are given below. P = 10 + 0.2 Q P = 20 – 0.2 Q a. What is the equilibrium quantity for t-shirt Number What is the equilibrium price for t-shirts? Number If the process of making your t-shirts results in chemical waste that you dump in a nearby stream, creating $ 8 worth of damage to the environment per shirt, what is the socially optimal number of t-shirts for you to sell? C. Number

1. Suppose you are selling t-shirts at your own t-shirt stand. The supply and demand curves for t-shirts are given below. P = 10 + 0.2 Q P = 20 – 0.2 Q a. What is the equilibrium quantity for t-shirt Number What is the equilibrium price for t-shirts? Number If the process of making your t-shirts results in chemical waste that you dump in a nearby stream, creating $ 8 worth of damage to the environment per shirt, what is the socially optimal number of t-shirts for you to sell? C. Number

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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None
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