ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Financial Statements
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The supply and demand for plastic straws are given by: Supply: P = 12 + 10Q Demand: P = 100 - Q А. - What is the competitive equilibrium price and quantity of straws? B.: It turns out that straws cause a negative externality because they are not properly disposed of. The marginal damages (external cost) from straws are: MD = 4Q What is the social mar ginal cost of straws? С. " What is tle efficient number of straws? D. (* Which area on the graph below corresponds to the welfare loss from the competitive equilibrium? SMC Supply A B D E F G Demand
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Transcribed Image Text:The supply and demand for plastic straws are given by: Supply: P = 12 + 10Q Demand: P = 100 - Q А. - What is the competitive equilibrium price and quantity of straws? B.: It turns out that straws cause a negative externality because they are not properly disposed of. The marginal damages (external cost) from straws are: MD = 4Q What is the social mar ginal cost of straws? С. " What is tle efficient number of straws? D. (* Which area on the graph below corresponds to the welfare loss from the competitive equilibrium? SMC Supply A B D E F G Demand
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