Problem 4: please use the following to complete the graph 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 and is negatively impacted.

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 and is negatively impacted.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 31CTQ: Consider two ways of protecting elephants from poachers in African countries. In one approach, the...

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