Assume Figure 2 represents the private marginal costs and benefits of Producing one ton of Steel. What would be the socially efficient price and quantity of steel that would be sold if there was marginal production damage of of S0.60 O $2,50, 9 tons O $2.70, 11 tons O $1.50, 11 tons $1.5, 9 tons

Assume Figure 2 represents the private marginal costs and benefits of Producing one ton of Steel. What would be the socially efficient price and quantity of steel that would be sold if there was marginal production damage of of S0.60 O $2,50, 9 tons O $2.70, 11 tons O $1.50, 11 tons $1.5, 9 tons

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter13: Positive Externalities And Public Goods

Section: Chapter Questions

Problem 24P: Assume that the marginal private costs of a film producing fuel-efficient can; is greater than the...

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Question

Figure 2
$4.00
$3.00
mc
$2.00
....
$1.00
mr
5.
10
15
20

Assume Figure 2 represents the private marginal costs and benefits of Producing one ton of
Steel. What would be the socially efficient price and quantity of steel that would be sold if there was
marginal production damage of of S0.60
O $2,50, 9 tons
O $2.70, 11 tons
O $1.50, 11 tons
O $1.5, 9 tons

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