A city currently emits 16 million gallons (MG) of raw sewage into a lake that is beside
Question:
A city currently emits 16 million gallons (MG) of raw sewage into a lake that is beside the city. Table 12.13 shows the total costs (TC) in thousands of dollars of cleaning up the sewage to different levels, together with the total benefits (TB) of doing so. Benefits include environmental, recreational, health, and industrial benefits.
Table 12.13
a. Using the information in Table 12.13 calculate the marginal costs and marginal benefits of reducing sewage emissions for this city.
b. What is the optimal level of sewage for this city? How can you tell?
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Step by Step Answer:
a The marginal cost MC is the additional cost incurred by reducing one more unit of sewage emissions ...View the full answer
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