The figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture. If property rights to the pasture are granted to a farmer so that the farmer owns the pasture, the farmer raises OA 0 goats OB. 40 goats OC. 50 goats OD. 55 goats Price and cost dolars per pend $. 10 20 MSC MS8 30 80 Number of go 40
The figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture. If property rights to the pasture are granted to a farmer so that the farmer owns the pasture, the farmer raises OA 0 goats OB. 40 goats OC. 50 goats OD. 55 goats Price and cost dolars per pend $. 10 20 MSC MS8 30 80 Number of go 40
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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