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(b) Now suppose that that the cost of the carbon capture technology is given by some c 0, distributed uniformly on [0,20] and uncorrelated with
(b) Now suppose that that the cost of the carbon capture technology is given by some c 0, distributed uniformly on [0,20] and uncorrelated with v. What should society be willing to pay for the carbon capture project? What is the expected value to society of offering this as a payment, s, to the Finnish engineers in exchange for building the carbon capture device? (Assume that the engineers know c, and will reject the offer if s < c.)
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