a. Calculate the output and price of paper if it is produced under competitive conditions and no attempt is made to monitor or regulate the dumping of effluent. (Enter your responses rounded to two decimal places.) Without regulation, the price is $ 27.5 per 100-pound lot, and the quantity is 100000 100-pound lots. b. Determine the socially efficient price and output of paper. (Enter your responses rounded to two decimal places.) The socially efficient price is $ per 100-pound lot, and the socially efficient quantity is 100-pound lots.
a. Calculate the output and price of paper if it is produced under competitive conditions and no attempt is made to monitor or regulate the dumping of effluent. (Enter your responses rounded to two decimal places.) Without regulation, the price is $ 27.5 per 100-pound lot, and the quantity is 100000 100-pound lots. b. Determine the socially efficient price and output of paper. (Enter your responses rounded to two decimal places.) The socially efficient price is $ per 100-pound lot, and the socially efficient quantity is 100-pound lots.
Chapter14: Environmental Economics
Section: Chapter Questions
Problem 11SQ
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