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Question 9 Suppose a farm currently is being negatively impacted by pollution created by a factory. In fact its production costs are currently higher due to it. The government is going to be introducing regulations that will lead to the factory emitting Not yet less pollution. This will have a positive impact on the farm's production costs. Below are the farm's current and estimated future production costs. answered Marked out of Production costs before the regulation $2.0 m 3.0 Production costs in the future, without the regulation $3.0 m Flag Production costs in the future, with the regulation $2.5 m question Using the above information, complete the below statements, filling in your final, complete answer in the space provided to the right of the statement. Do not show your work or calculations. 7 A B I ! Y TY Ff E # SX'S a.) In the future, the change in production costs of the farm is equal to b.) In the future, the portion of the farm's production cost increase independent of the regulation is equal to c.) in the future, the portion of the farm's production cost decrease due to the regulation is equal toQuestion 7 Not yet There are two consumer groups who consume a park: Consumer Group 1 and Consumer Group 2. The marginal cost to provide the park is $3 per hectare. Assume there are no fixed costs. answered Consumer Consumer Marked out of Hectares of Group 1 Group 2 6.00 Park MWTP MWTP Flag $7 $6 question 2 $6 $5 3 $5 $4 4 $4 5 $3 $2 6 $2 $1 Using the above information and table, complete the below statements, filling in your final, complete answer in the space provided to the right of the statement. Do not show your work or calculations. 7 A - BIJ TY FFY # S'S If this is a private park, a.) the value of the first hectare of this park is equal to b.) the socially-efficient size of this park is equal to c.) the MWTP at the socially-efficient outcome is equal to d.) the total value of this park at the socially-efficient outcome is equal to e.) the total cost to provide the socially-efficient outcome is equal to f.) the net benefit of this park at the socially-efficient outcome is equal to Previous page Next page