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- DECREASING MARGINAL COST OCCUR FROM 0 TO20 TONS OF STEEL BECAUSE THE WORKERS A. WORK OVERTIME B. PRODUCE OUTPUT C. EARN A SALARY D. SPECIALIZE. ONLY TYPED SOLUTION1.Factory does not install scrubber, Farmer uses south field Crop Damage ($= 120 Farmer cost ($=0 Factory Cost($=0 Social cost =120 2. Factory does not install scrubber, Farmer rents west field Crop Damage ($) = 50 Farmer cost ($=20 Factory Cost($=0 Social cost =70 3.Factory installs scrubber, Farmer uses south field Crop Damage ($) = 35 Farmer cost ($=0 Factory Cost ($=40 Social cost =75 4.Factory installs scrubber, Farmer rents west field Crop Damage ($=0 Farmer cost ($)=20 Factory Cost($=40 Social cost = 60 Now the farmer has a right to pollution abatement, creating a legal duty for the factory to install the scrubber (no additional crop damages will be paid if the factory fulfills the duty to install the scrubber). What is the factory's willingness to pay to continue polluting without the scrubber? Why? Now the farmer has a right to pollution abatement, creating a legal duty for the factory to install the scrubber (no additional crop damages will be paid if the factory fulfills…Table 15-4 Price per Dose $80 72 Quantity Demanded (dose) 0 1 2 3 4 5 6 24 7 16 8 Shakti Inc. has been granted a patent for its Arnica toothache balm. Table 15-4 shows the demand and the total cost schedule for the firm. 64 56 48 40 32 Total Cost of Production (dollars) $80 Refer to Table 15-4. What is the amount of Shakti's profit? $68 $72 $124 $192 82 88 100 124 164 208 268 340
- 6Refer to the table below .What is the marginal cost of the third sandwich? #Chicken Sandwiches TVC MC AVC TFC TC AFC ATC 0 100 1 10 2 115 3 25 4 35 5 160 Choices a) 25 b)10 c)5 d)2The figure shows an economy's production possibilities frontier and identifies some production points. We can produce all combinations A. inside the PPF but not on the PPF or outside the PPF B. on the PPF and outside the PPE O C. inside the PPF, on the PPF, and outside the PPF O D. on the PPF but not inside or outside the PPE O E. inside the PPF and on the PPF Which points are attainable? A. Points A, B, C, D, and E OB. Points A, B, and C only O C. Points F and G only O D. Points D and E only O E. Points A, B, C, F, and G O O O O
- When there is increase in demand and decrease in supply, equilibrium price: (a) Falls (c) Constant (d) None of these ention ng fo (b) RisesThe total cost of Mr. Plow, a snow-removal business, is given in the table below. Quantity adriveways cleared) Abbreviation Formula: Total Revenue TR Total Cost TC $0 $25 20 30 40 50 60 70 80 34 41 46 49 51 54 60 70 95 145 10 100 What is the total profit of cleaning five driveways if the price Mr. Plow can charge is $10 per driveway? s 01/21 VIEW sOLUTION O OF 21QUESTIONS COMPLETED 28 MacBook Pro 596. The following table reflects the cost structure (in millions) of AUS for hosting international conferences. Use the table to answer the questions below: Number of conferences 0 1 2 3 4 5 6 Total cost 0 3 6 9 13 18 26 (a) Using the information, calculate the marginal cost for the 5th conference. (b) Assuming that the marginal benefit is constant at AED 7 million, how many conferences should AUS host? (c) Assuming that the marginal benefit is constant at AED 3.5 million, how many conferences should AUS host?
- 7D. Pollution problem You know the marginal cost of reducing pollution for four factories. Each unit of pollution can be eliminated according to the following marginal costs. A B C D First Unit $65 $15 $30 $10 Second Unit $75 $55 $65 $30 Third Unit $85 $85 $110 $40 Fourth Unit $120 $155 $120 $60 1. The total cost of Firm D eliminating 4 units of pollution 2. Determine the total cost of each firm eliminating one unit of production. 3. The community has decided that the managers of the firms are allowed to produce a total of 4 units of production. Identify the firm(s) that will pollute.Costs and Benefits for Control of Nitrogen Oxide Emissions ($mil) Total Marginal Total Cost Benefit Marginal Benefit % NOX abatement (TC) (TB) Cost (MC) (MB) Marginal Net Benefit Total Net Benefit 10 50 400 8.00 20 110 780 7.09 30 180 1130 6.28 40 320 1440 4.50 50 590 1710 2.90 60 930 1820 1.96 70 1420 1890 1.33 80 2020 1910 0.95 90 2860 1915 0.67 100 3870 1917 0.50