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 14RQ: What is an externality?

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The 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 $50 to desalinate this river water so Mexican farmers can irrigate their crops. Price ($) 275 250 225 200 175 150 125 100 75 50 25 0 DMBMB sed 10 20 30 40 50 60 70 80 90 100110120 Irrigation (acres) Tools (2) MCpvt MC social
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