Consider the market for trees in a public forest, illustrated in the figure to the right, where S₁ is marginal private cost and D₁ is marginal private benefit. Trees are an example of a common resource Suppose that the use of trees in a public forest generates a negative externality of $75 per unit. If so, then according to the figure, the optimal quantity of trees in a public forest for society is units. (Enter your response as an integer.) Price of trees in a public forest (per ton) 600- 550- 500- 450- 400- 350- 300- 250- 200- 150- 100- S₁ 9 D₁ 50- 0+ 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Quantity of trees in a public forest

Consider the market for trees in a public forest, illustrated in the figure to the right, where S₁ is marginal private cost and D₁ is marginal private benefit. Trees are an example of a common resource Suppose that the use of trees in a public forest generates a negative externality of $75 per unit. If so, then according to the figure, the optimal quantity of trees in a public forest for society is units. (Enter your response as an integer.) Price of trees in a public forest (per ton) 600- 550- 500- 450- 400- 350- 300- 250- 200- 150- 100- S₁ 9 D₁ 50- 0+ 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Quantity of trees in a public forest

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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