Microeconomics (MindTap Course List)
10th Edition
ISBN: 9781285859484
Author: William Boyes, Michael Melvin
Publisher: Cengage Learning
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Chapter 13, Problem 9E
To determine
The cost and benefit of saving elephants.
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Published in 1980, the book Free to Choose discusses how economists Milton Friedman and Rose Friedman proposed a one-sided view of the benefits of a voucher system. However, there are other economists who disagree about the potential effects of a voucher system.
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with no economies or diseconomies of scale. In the short
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a. Calculate the values of profit, consumer surplus, and
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b. Repeat the calculations in part a, but now assume
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