Macmillan Learning Using the information in the graph, answer the three questions. Price and cost (per pound) $20 19 18 17 Social marginal cost 16 15 14 13 12 11 10 A Private marginal cost 9 8 7 6 T 5 4 3 Demand 2 1 What is the value of the efficient per-unit tax at the socially optimal equilibrium? 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Fertilizer (millions of pounds per year) per-unit tax: $ What are tax revenues at the socially optimal equilibrium, in millions? tax revenues: $
Macmillan Learning Using the information in the graph, answer the three questions. Price and cost (per pound) $20 19 18 17 Social marginal cost 16 15 14 13 12 11 10 A Private marginal cost 9 8 7 6 T 5 4 3 Demand 2 1 What is the value of the efficient per-unit tax at the socially optimal equilibrium? 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Fertilizer (millions of pounds per year) per-unit tax: $ What are tax revenues at the socially optimal equilibrium, in millions? tax revenues: $
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter30: Market Failure: Externalities, Public Goods, And Asymmetric Information
Section: Chapter Questions
Problem 2WNG
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