11) Steve's paper factory is polluting a local river and the following information is provided on its production quantity, profit, demand, and cost conditions. Production Marginal MSB= Quantity Profit MPB 1 60 70 2 40 60 20 0 -20 -40 3 4 5 6 50 40 30 20 a) $80. b) $100. c) $110. d) $130. MPC 10 20 30 40 50 60 MSC 40 60 80 100 120 140 If the government gives Steve 2 permits for free, and the permits trade at a market price of $50 each, what will Steve's profit be equal to after he optimally trades permits?

11) Steve's paper factory is polluting a local river and the following information is provided on its production quantity, profit, demand, and cost conditions. Production Marginal MSB= Quantity Profit MPB 1 60 70 2 40 60 20 0 -20 -40 3 4 5 6 50 40 30 20 a) $80. b) $100. c) $110. d) $130. MPC 10 20 30 40 50 60 MSC 40 60 80 100 120 140 If the government gives Steve 2 permits for free, and the permits trade at a market price of $50 each, what will Steve's profit be equal to after he optimally trades permits?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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