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The graph below shows the market for honey. Producing honey carries with it a positive externality because the honey bees play an important role in the pollination of plants, promoting agricultural productivity and environmental health. Most consumers don't take- this benefit into account when they are in the grocery store deciding whether or not to buy honey. P 20 15 10 D 10 MC/S OA. 5 million honey bees OB. 10 million honey bees OC.7 million honey bees OD. 15 million honey bees OE. 3 million honey bees MSB 15 Honey Jars H The socially optimal quantity of honey is

The graph below shows the market for honey. Producing honey carries with it a positive externality because the honey bees play an important role in the pollination of plants, promoting agricultural productivity and environmental health. Most consumers don't take- this benefit into account when they are in the grocery store deciding whether or not to buy honey. P 20 15 10 D 10 MC/S OA. 5 million honey bees OB. 10 million honey bees OC.7 million honey bees OD. 15 million honey bees OE. 3 million honey bees MSB 15 Honey Jars H The socially optimal quantity of honey is

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The graph below shows the market for honey. Producing honey carries with it a positive externality because the honey bees play an important role in the pollination of plants, promoting agricultural productivity and environmental health. Most consumers don't take this benefit into account when they are in the grocery store deciding whether or not to buy honey. P 20 15 10 357 D 10 MC/S OA. 5 million honey bees B. 10 million honey bees O C.7 million honey bees D. 15 million honey bees OE 3 million honey bees MSB 15 Honey Jars 52-=-- The socially optimal quantity of honey is L 1 17. 1 101571 T 1,
Transcribed Image Text:The graph below shows the market for honey. Producing honey carries with it a positive externality because the honey bees play an important role in the pollination of plants, promoting agricultural productivity and environmental health. Most consumers don't take this benefit into account when they are in the grocery store deciding whether or not to buy honey. P 20 15 10 357 D 10 MC/S OA. 5 million honey bees B. 10 million honey bees O C.7 million honey bees D. 15 million honey bees OE 3 million honey bees MSB 15 Honey Jars 52-=-- The socially optimal quantity of honey is L 1 17. 1 101571 T 1,
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