(2) A study indicates that spending money on pollution control is effective up to a point but eventually becomes wasteful. Suppose it is known that when x million dollars is spent on 100/ 0.03x +9 controlling pollution, the percentage of pollution removed is given by P(x) = (i) At what rate is the percentage of pollution removal P(x) changing when 16 million dollars is spent? Is the percentage increasing or decreasing at this level of expenditure?

(2) A study indicates that spending money on pollution control is effective up to a point but eventually becomes wasteful. Suppose it is known that when x million dollars is spent on 100/ 0.03x +9 controlling pollution, the percentage of pollution removed is given by P(x) = (i) At what rate is the percentage of pollution removal P(x) changing when 16 million dollars is spent? Is the percentage increasing or decreasing at this level of expenditure?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter7: Uncertainty

Section: Chapter Questions

Problem 7.8P

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