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The table below displays the private marginal benefit and the private marginal cost for Sam's Flower Farm. Sam's Flower Farm produces wild flowers. Each acre

The table below displays the private marginal benefit and the private marginal cost for Sam's Flower Farm. Sam's Flower Farm produces wild flowers. Each acre produces $550 worth of flowers per month. Sam's farm also serves as a local attraction for tourists looking to view birds and butterflies increasing the revenues of local businesses by $50 per month (Note: the social marginal cost is the same as the private marginal cost).

Quantity (acres) MC Private MB Private
100 $450 $550
200 500 550
300 550 550
400 600 550
500 650 550

What is the socially efficient number of acres for Sam to plant if all costs and benefits are considered?

300 acres

400 acres

200 acres

100 acres

explain

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