43.80 37.60 26.75 a 22.50 b 18.60 (Marginal Social Costs) (Marginal Private Costs) Marginal Social Benefits Marginal Private Benefits quantity 3,840 5,520 6,360 In a free market, O units will be produced because of the presence of the externality 3,840 units will be produced 5,520 units will be produced 6,360 units will be produced
43.80 37.60 26.75 a 22.50 b 18.60 (Marginal Social Costs) (Marginal Private Costs) Marginal Social Benefits Marginal Private Benefits quantity 3,840 5,520 6,360 In a free market, O units will be produced because of the presence of the externality 3,840 units will be produced 5,520 units will be produced 6,360 units will be produced
Chapter14: Environmental Economics
Section: Chapter Questions
Problem 20SQ
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