a. Draw the marginal private cost of irrigation on the graph.Instructions: Use the tool provided (MCpvt) and plot only the two endpoints across the entire range of output (0-100).b. Draw the marginal social cost of irrigation on the graph.Instructions: Use the tool provided (MCsocial) and plot only the two endpoints across the entire range of output (0-100).c. A U.S. farmer will irrigateacresd. The efficient level of irrigation isacres The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land.Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water soMexican farmers can irrigate their crops.Price ($)2752502252001751501251007550250DMBMB sed10 20 30 40 50 60 70 80 90 100110120Irrigation (acres)Tools(2)MCpvtMC social

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a. Draw the marginal private cost of irrigation on the graph. Instructions: Use the tool provided (MCpvt) and plot only the two endpoints across the entire range of output (0-100). b. Draw the marginal social cost of irrigation on the graph. Instructions: Use the tool provided (MCsocial) and plot only the two endpoints across the entire range of output (0-100). CA U.S. farmer will irrigate acres d. The efficient level of irrigation is acres

a. Draw the marginal private cost of irrigation on the graph. Instructions: Use the tool provided (MCpvt) and plot only the two endpoints across the entire range of output (0-100). b. Draw the marginal social cost of irrigation on the graph. Instructions: Use the tool provided (MCsocial) and plot only the two endpoints across the entire range of output (0-100). CA U.S. farmer will irrigate acres d. The efficient level of irrigation is acres

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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