6. Phoebe keeps a bee farm next door to an apple orchard. She chooses her optimal number of beehives by select- ing the honey output level at which her private marginal benefit from beekeeping equals her private marginal The villa another а. If eac how and cost. (LO3) Assume that Phoebe's private marginal benefit and marginal cost curves from beekeeping are normally shaped. Draw a diagram of them. b. Phoebe's bees help to pollinate the blossoms in the apple orchard, increasing the fruit yield. Show the social marginal benefit from Phoebe's beekeeping in b.What villag Wha num c. The graz Ass 15 your diagram. c. Phoebe's bees are Africanized killer bees that aggres- sell sively sting anyone who steps into their flight path. Phoebe, fortunately, is naturally immune to the bees' venom. Show the social marginal cost curve from Phoebe's beekeeping in your diagram. d.Indicate the socially optimal quantity of beehives on your diagram. Is it higher or lower than the privately optimal quantity? Explain. righ 9. Two f аccess has a pollut respo show dio rentals in

6. Phoebe keeps a bee farm next door to an apple orchard. She chooses her optimal number of beehives by select- ing the honey output level at which her private marginal benefit from beekeeping equals her private marginal The villa another а. If eac how and cost. (LO3) Assume that Phoebe's private marginal benefit and marginal cost curves from beekeeping are normally shaped. Draw a diagram of them. b. Phoebe's bees help to pollinate the blossoms in the apple orchard, increasing the fruit yield. Show the social marginal benefit from Phoebe's beekeeping in b.What villag Wha num c. The graz Ass 15 your diagram. c. Phoebe's bees are Africanized killer bees that aggres- sell sively sting anyone who steps into their flight path. Phoebe, fortunately, is naturally immune to the bees' venom. Show the social marginal cost curve from Phoebe's beekeeping in your diagram. d.Indicate the socially optimal quantity of beehives on your diagram. Is it higher or lower than the privately optimal quantity? Explain. righ 9. Two f аccess has a pollut respo show dio rentals in

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter13: General Equilibrium And Welfare

Section: Chapter Questions

Problem 13.12P

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