he table below displays the private marginal benefit and the private marginal cost for Sam's Flower Farm. Quantity (acres) MC Private 100 200 300 400 500 $650 675 700 725 750 MB Private $675 675 675 675 675 m's Flower Farm produces wild flowers. Each acre produces $675 worth of flowers per month. Sam's farm also serves as a al attraction for tourists looking to view birds and butterflies increasing the revenues of local businesses by $25 per month. at is the socially efficient number of acres for Sam to plant if all costs and benefits are considered?

he table below displays the private marginal benefit and the private marginal cost for Sam's Flower Farm. Quantity (acres) MC Private 100 200 300 400 500 $650 675 700 725 750 MB Private $675 675 675 675 675 m's Flower Farm produces wild flowers. Each acre produces $675 worth of flowers per month. Sam's farm also serves as a al attraction for tourists looking to view birds and butterflies increasing the revenues of local businesses by $25 per month. at is the socially efficient number of acres for Sam to plant if all costs and benefits are considered?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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