164points01:17:49eBookPrintReferencesMcGrawHillThe figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land.Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river waterso Mexican farmers can irrigate their crops.OPrice$275$250$225$200$175$150$125$100$75$50$2501070 80Irrigation (acres)20 30 80 506090D=MB =MBpvt100110120< PrevsociTools1MCpvtOa. Draw the marginal private cost of irrigation on the graph.Instructions: Use the tool provided 'MC and plot only the two endpoints across the entire range of output (0-100)./MC social16 of 25Next > 164points01:17:49eBookPrintReferencesMcGrawHillThe figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land.Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river waterso Mexican farmers can irrigate their crops.OPrice$275$250$225$200$175$150$125$100$75$50$2501070 80Irrigation (acres)20 30 80 506090D=MB =MBpvt100110120< PrevsociTools1MCpvtOa. Draw the marginal private cost of irrigation on the graph.Instructions: Use the tool provided 'MC and plot only the two endpoints across the entire range of output (0-100)./MC social16 of 25Next >

"Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

a. Draw the marginal private cost of irrigation on the graph. Instructions: Use the tool provided 'MCpvt' and plot only the two endpoints across the entire range of output (0-100). b. Draw the marginal social cost of irrigation on the graph. Instructions: Use the tool provided 'MCsocial' and plot only the two endpoints across the entire range of output (0-100). c. A U.S. farmer will irrigate: d. The efficient level of irrigation is: acres. acres.

a. Draw the marginal private cost of irrigation on the graph. Instructions: Use the tool provided 'MCpvt' and plot only the two endpoints across the entire range of output (0-100). b. Draw the marginal social cost of irrigation on the graph. Instructions: Use the tool provided 'MCsocial' and plot only the two endpoints across the entire range of output (0-100). c. A U.S. farmer will irrigate: d. The efficient level of irrigation is: acres. acres.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 31CTQ: Consider two ways of protecting elephants from poachers in African countries. In one approach, the...

See similar textbooks

Similar questions

A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwoods forest and grow com, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table 12.11 shows possible combinations of economic output and environmental protection. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between T and R, decide which one is better. Why? In the choice between T and S, can you say which one is better, and why? If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice Q or S? Why?
2. The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs 097 the farmer $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. a. Price 2 Linolla no bobang od liw nowomon quoY sho Hyldguorodi Arow He wor? C. 250 yab labiquis noboinions amoT 000, bus ,0012 101 og awotllam2 ni amoor fotoH 1 moos beinet von 02 10 xat s lod ogradio or aobioob toyim odiounovor seisT OT S 1001 101 011 gniog odt.bozogmi zi xet ont rofl A siir onsloole.000 of alls bonor amo01 to to 220l trigiswbsob oda bus nwollem? (lasvuo bramab Jazon bra vigque diw do wendaiti) Irrigation(acres) D=PB=SB 100 Draw the (marginal) private cost of irrigation on the graph. (Hint: when one more acre is irrigated, how much should be spent?) b. Draw the (marginal) social cost of irrigation on the graph. asiduob won 10vers: d To 15dman od…
What is the free rider problem?
The state of Colorado requires oil and gas companies who use fracking techniques to retune the land to its original condition after the oil and gas extractions. Table 12.9 shows the total cost and total benefits (in dollars) of this policy. Calculate the marginal cost and the marginal benefit at each quantity (acre) of land restored. See Production. Costs and Industry Structure if you need a refresher on how to calculate marginal costs and benefits. If we apply marginal analysis, what is the optimal amount of land to be restored?
Five roommates arc planning to spend the weekendin their dorm room watching movies, and they arcdebating how many movies to watch. Here is theirwillingness to pay:Quentin Spike Ridley Martin StevenFirst film $14 $10 $8 $4 $2Second film 12 8 4 2 0Third film 10 6 2 0 0Fourth film 6 2 0 0 0Filth film 2 0 0 0 0Buying a DVD costs SIS, which the roommates splitequally, so each pays $3 per movie.a. What is the efficient number of movies to watch(that is, the number that maximizes total surplus)?b. from the standpoint of each roommate, what isthe preferred number of movies?c. What is the preference of the median roommate?d. (f the roommates held a vote on the efficient out~come versus the median voter's preference, howwould each person vote? Which outcome wouldg~ a majority?c. lf one of the roommates proposed a differentnumber of movies, could his proposal beat thewinner from part (d) in a vote?f. Can majority rule be counted on to reach efficientoutcomes in the provision of public go<Xis?
HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?
Consider two ways of protecting elephants from poachers in African countries. In one approach, the government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. In a second approach, the government sets up national parks and designates 10 villages around the edges of the park as official tourist centers that become places where tourists can stay and bases for guided tours inside the national park. Consider the different incentives of local villagers-who often are very poor-in each of these plans. Which plan seems more likely to help the elephant population?
Wichita — Farmers in Kansas, the biggest US producerof wheat, are abandoning their crops damaged by severedrought and cold.Some are spraying wheat fields with crop-killingchemicals and claiming insurance payouts in the beliefthat it is not worth harvesting the little grain that thereis, Reuters found on a three-day tour of the state. Othergrowers let cattle graze on the dismal-looking fields.Abandoning fields will reduce the crop of the world’sfifth-largest wheat exporter, with stocks expected to fallto a 16-year low. Large-scale abandonment deals aneconomic blow to farm towns and force wheat buyersto adjust procurement plans by buying the staple grainelsewhere.Nationally, winter-wheat farmers plan to abandon 33%of the acres they planted, the highest percentage sinceWorld War 1, the US department of agriculture said ina May 12 report.Kansas farmers are expected to abandon about 19% ofthe area planted last autumn, up from 10% in 2022 and4% in 2021, according to the report. But farmers,…
Wichita — Farmers in Kansas, the biggest US producerof wheat, are abandoning their crops damaged by severedrought and cold.Some are spraying wheat fields with crop-killingchemicals and claiming insurance payouts in the beliefthat it is not worth harvesting the little grain that thereis, Reuters found on a three-day tour of the state. Othergrowers let cattle graze on the dismal-looking fields.Abandoning fields will reduce the crop of the world’sfifth-largest wheat exporter, with stocks expected to fallto a 16-year low. Large-scale abandonment deals aneconomic blow to farm towns and force wheat buyersto adjust procurement plans by buying the staple grainelsewhere.Nationally, winter-wheat farmers plan to abandon 33%of the acres they planted, the highest percentage sinceWorld War 1, the US department of agriculture said ina May 12 report.Kansas farmers are expected to abandon about 19% ofthe area planted last autumn, up from 10% in 2022 and4% in 2021, according to the report. But farmers,…
. Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted and both states are deciding whether or not to clean it. If Wisconsin decides to clean the lake it will cost 1200 and generate social benefits of 1500 – however, Wisconsin will receive only 1100 of those social benefits while neighbor Illinois will receive the other 400. If Illinois cleans the lake, it will cost them 700 and generate social benefits of 900 – however, Illinois will receive only 600 of those benefits, Wisconsin will receive the remaining 300. If a state does not clean the lake, it experiences a cost of $0. If both states clean the lake, the payoffs will be A. Wisconsin gains 100, Illinois gains 200B. Wisconsin gains 200, Illinois gains 300C. Wisconsin gains 200, Illinois loses 100D. Wisconsin gains 100, Illinois loses 100
Asap Wichita — Farmers in Kansas, the biggest US producerof wheat, are abandoning their crops damaged by severedrought and cold.Some are spraying wheat fields with crop-killingchemicals and claiming insurance payouts in the beliefthat it is not worth harvesting the little grain that thereis, Reuters found on a three-day tour of the state. Othergrowers let cattle graze on the dismal-looking fields.Abandoning fields will reduce the crop of the world’sfifth-largest wheat exporter, with stocks expected to fallto a 16-year low. Large-scale abandonment deals aneconomic blow to farm towns and force wheat buyersto adjust procurement plans by buying the staple grainelsewhere.Nationally, winter-wheat farmers plan to abandon 33%of the acres they planted, the highest percentage sinceWorld War 1, the US department of agriculture said ina May 12 report.Kansas farmers are expected to abandon about 19% ofthe area planted last autumn, up from 10% in 2022 and4% in 2021, according to the report. But…
sub= 24 help