he table below displays the private marginal benefit and the private marginal cost for Sam's Flower Farm. Quantity (acres) MC Private 100 200 300 400 500 $650 675 700 725 750 MB Private $675 675 675 675 675 m's Flower Farm produces wild flowers. Each acre produces $675 worth of flowers per month. Sam's farm also serves as a al attraction for tourists looking to view birds and butterflies increasing the revenues of local businesses by $25 per month. at is the socially efficient number of acres for Sam to plant if all costs and benefits are considered?

he table below displays the private marginal benefit and the private marginal cost for Sam's Flower Farm. Quantity (acres) MC Private 100 200 300 400 500 $650 675 700 725 750 MB Private $675 675 675 675 675 m's Flower Farm produces wild flowers. Each acre produces $675 worth of flowers per month. Sam's farm also serves as a al attraction for tourists looking to view birds and butterflies increasing the revenues of local businesses by $25 per month. at is the socially efficient number of acres for Sam to plant if all costs and benefits are considered?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Marginal cost and marginal benefit (dollars per pound) 5 3 2 - MC M8 100 200 300 400 500 600 Quantity (pounds of coffee perday) The above figure shows the marginal benefit and marginal cost curves of coffee in the nation of Kaffenia. Which of the following would result in the quantity of coffee in Kaffenia differing from the efficient quantity? O The existence of price control in the market. The existence of many producers and sellers of coffee. The existence of a single producer and seller of coffee. Both "The existence of a single producer and seller of coffee." and "The existence of price control in the market." are correct.
What is the importance of the enforcement private property rights as it relates to the mitigation of market failure & supporting conservation ?
2
4.00 3.50 3.00 2.50 2.00 1.50 1.00 D. 0.50 1. 6. 8. 6. 10 11 12 13 14 15 Quantity (thousands of dozens per month) At a price of $1.50 per dozen, how many bagels are supplied per month? 5. 4. 3. 2. Price per dozen bagels
Gg 203.
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Michigan SUGAR BEET processing center creates waste ponds that smell terrible interfering with the quality of life of nearby residents. Below are the dollar valued benefits and costs of producing a ton of sugar. Quantity in Tons Private Benefit Private Cost External Cost 1 $140 $100 $20 2 $130 $110 $20 3 $120 $120 $20 4 $110 $130 $20 5 $100 $140 $20 6 $90 $150 $20 7 $80 $160 $20 Describe the quantity of tons of Sugar that would be produced in a pure Describe the society optimal quantity tons of sugar that should be Describe two ways that the business can be incentivized to internalize the socialcosts of sugar
What would full marginal-cost pricing of water lead to? Group of answer choices A. more water use and higher water prices. B. less water use and higher water prices C. less water use and lower water prices D. less water use but no change in water prices