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The following problems require the use of the graph below. Make sure that you are clear in doing any marking and labeling of the graph.

The following problems require the use of the graph below. Make sure that you are clear in doing any marking and labeling of the graph.

Principles of Economics 2e
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 38CTQ: How can high-income countries benefit from covering much of the cost of reducing pollution created...
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Problem 3:complete parts A, B, and C using the graph.
Problem 3 The following problems require the use of the graph below. Make sure that you are clear in doing any marking and labeling of the graph. 4.5 4 Dollars (Million 3.5 5 3 2 1.5 1 0.5 0 0 0.5 1 Nitrate Contamination (Mg/L) 1.5 Part A In moving from 0.9 mg/l to 1.1 mg/l of abatement, show and clearly label on the figure above the change in total damage (ATD). Part B In moving from 0.8 mg/l to 0.6 mg/l of contamination, show and clearly label on the figure above the change in total abatement costs (ATAC). Part C Based on your previous answers, show and clearly label on the figure above the change in total combined social spending that occurs as a result of the changes above.
Transcribed Image Text:Problem 3 The following problems require the use of the graph below. Make sure that you are clear in doing any marking and labeling of the graph. 4.5 4 Dollars (Million 3.5 5 3 2 1.5 1 0.5 0 0 0.5 1 Nitrate Contamination (Mg/L) 1.5 Part A In moving from 0.9 mg/l to 1.1 mg/l of abatement, show and clearly label on the figure above the change in total damage (ATD). Part B In moving from 0.8 mg/l to 0.6 mg/l of contamination, show and clearly label on the figure above the change in total abatement costs (ATAC). Part C Based on your previous answers, show and clearly label on the figure above the change in total combined social spending that occurs as a result of the changes above.
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