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The graph illustrates the market for uranium with no government intervention. The uranium mines dump their waste in a nearby river. The marginal social cost of producing the uranium is double the marginal private cost. If the town owns the river, what is the quantity of uranium produced and how much does the town charge the mines to dump waste? Draw a point to show marginal social cost if production is 160 tonnes. Label it 1. Draw the MSC curve and label it. Draw a point to show the quantity of uranium produced and the marginal social cost at this point when residents own the river. Label it 2. Draw a point to show the marginal private cost of producing the efficient quantity. Label it 3. The town charges the mines $a tonne to dump waste. 1080 960- 840- 720- 600- 480-480 360- 240- 120- Price and cost (dollars per tonne) 0+ $160 160 40 80 120 Quantity (tonnes of uranium per week) S D 200 Q Q Edit Coordinates (160,480) >>> Draw only the objects specified in the question.

The graph illustrates the market for uranium with no government intervention. The uranium mines dump their waste in a nearby river. The marginal social cost of producing the uranium is double the marginal private cost. If the town owns the river, what is the quantity of uranium produced and how much does the town charge the mines to dump waste? Draw a point to show marginal social cost if production is 160 tonnes. Label it 1. Draw the MSC curve and label it. Draw a point to show the quantity of uranium produced and the marginal social cost at this point when residents own the river. Label it 2. Draw a point to show the marginal private cost of producing the efficient quantity. Label it 3. The town charges the mines $a tonne to dump waste. 1080 960- 840- 720- 600- 480-480 360- 240- 120- Price and cost (dollars per tonne) 0+ $160 160 40 80 120 Quantity (tonnes of uranium per week) S D 200 Q Q Edit Coordinates (160,480) >>> Draw only the objects specified in the question.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter12: Environmental Protection And Negative Externalities
Section: Chapter Questions
Problem 40P: Show the market for cigarettes in equilibrium, assuming that there are no laws banning smoking in...
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The graph illustrates the market for uranium with no government intervention. The uranium mines dump their waste in a nearby river. The marginal social cost of producing the uranium is double the marginal private cost. If the town owns the river, what is the quantity of uranium produced and how much does the town charge the mines to dump waste? Draw a point to show marginal social cost if production is 160 tonnes. Label it 1. Draw the MSC curve and label it. Draw a point to show the quantity of uranium produced and the marginal social cost at this point when residents own the river. Label it 2. Draw a point to show the marginal private cost of producing the efficient quantity. Label it 3. The town charges the mines $ a tonne to dump waste. 1080 960- 840- 720- 600- 480-480... 360- 240- 120- 0- Price and cost (dollars per tonne) 0 $160 120 160 Quantity (tonnes of uranium per week) 40 80 S D 200 Q Q Edit Coordinates (160,480) >>> Draw only the objects specified in the question.
Transcribed Image Text:The graph illustrates the market for uranium with no government intervention. The uranium mines dump their waste in a nearby river. The marginal social cost of producing the uranium is double the marginal private cost. If the town owns the river, what is the quantity of uranium produced and how much does the town charge the mines to dump waste? Draw a point to show marginal social cost if production is 160 tonnes. Label it 1. Draw the MSC curve and label it. Draw a point to show the quantity of uranium produced and the marginal social cost at this point when residents own the river. Label it 2. Draw a point to show the marginal private cost of producing the efficient quantity. Label it 3. The town charges the mines $ a tonne to dump waste. 1080 960- 840- 720- 600- 480-480... 360- 240- 120- 0- Price and cost (dollars per tonne) 0 $160 120 160 Quantity (tonnes of uranium per week) 40 80 S D 200 Q Q Edit Coordinates (160,480) >>> Draw only the objects specified in the question.
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