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Environmental Economics 6th Edition by Martha k Field,Barry Field
Edition 6ISBN: 978-0073511481Environmental Economics 6th Edition by Martha k Field,Barry Field
Edition 6ISBN: 978-0073511481 Exercise 2
Go back to question 2 in chapter 3. Suppose the marginal cost of producing this item is constant at $5 per item. What is the socially efficient rate of output?
Reference question 2 in chapter 3:
2. Below is the marginal willingness to pay of a consumer for organic apples.
a. What is this individual's total willingness to pay at a consumption level of 4 apples?
b. If the price of organic apples is $2.40, how many apples would this person consume?
Reference question 2 in chapter 3:
2. Below is the marginal willingness to pay of a consumer for organic apples.
a. What is this individual's total willingness to pay at a consumption level of 4 apples?
b. If the price of organic apples is $2.40, how many apples would this person consume?
Explanation
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Given information:
Table-1: Marginal an...
Environmental Economics 6th Edition by Martha k Field,Barry Field
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