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21. A country is currently creating 40 tons of toxic waste per year. The table below shows the total costs and total benefits of reducing
21. A country is currently creating 40 tons of toxic waste per year. The table below shows the total costs and total benefits of reducing the amount of toxic waste to various amounts.
Total Tons | TC | MC | TB | MB |
40 tons | Current | -- | Current | -- |
30 tons | $50 | $1000 | ||
20 tons | 150 | 1500 | ||
10 tons | 500 | 1850 | ||
0 tons | 1200 | 2000 |
Calculate the marginal cost and marginal benefit of reducing toxic waste in 10 ton increments. What level of toxic waste should the country reduce to? Why?
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