Problem 4: use the graph for the following directions Stretch ProblemsProblem 4Based on the graph below, explain what would happen to the optimal level of abatement ifthere were a significant reduction of population from the region where the nitrate contaminationoccurred. Assume that the population in the region drinks the nitrate-contaminated groundwaterand is negatively impacted.In answering the question you will need to:●●Explain why the change in the optimal level of abatement is, in fact, optimal.Be clear as to the underlying objectives of the optimal contamination policy and make sure toexplain any possible changes in the graph by using interpretations of relevant values. You willneed to add an extra sheet of paper toanswer the question.4.543.5321.510.5Determine which graph(s) are impacted;Show the change(s) in the impacted graph(s);Explain the direction of the change(s); and,000.51Nitrate Contamination (Mg/L)1.5

For the above provided graph - Blue curve which is downward sloping represents the marginal cost…

Stretch Problems Problem 4 Based on the graph below, explain what would happen to the optimal level of abatement if there were a significant reduction of population from the region where the nitrate contamination occurred. Assume that the population in the region drinks the nitrate-contaminated groundwater

Stretch Problems Problem 4 Based on the graph below, explain what would happen to the optimal level of abatement if there were a significant reduction of population from the region where the nitrate contamination occurred. Assume that the population in the region drinks the nitrate-contaminated groundwater

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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