The Danube river flows through 10(1) countries in Europe. It can be considered a transboundary common property resource. The land around the river can be considered as a public good because if it preserved in its pristine state, all the countries along the Danube river benefit from cleaner and healthier water. Ten Eastern European countries share a common water resource-river Danube. By buying open land along the watershed (area from which the water flows) these countries can preserve its purity from sewage, road and urban runoff, and such. The estimated land demand schedule for each country based on water treatment costs saved can be expressed as P = €21,200-30, where Q is acres purchased and P is the price per acre the country would be willing to pay What is the equation for the inverse (price is on the left-hand side) aggregate (i.o., for all 10 countries) demand for and as a private good.(approximately)? A.P= 10,600-0.3Qd OB.P=21,200-0.6Qd OCP-21,200-0.3Qd OD.P= 10,600-0.6Qd

The Danube river flows through 10(1) countries in Europe. It can be considered a transboundary common property resource. The land around the river can be considered as a public good because if it preserved in its pristine state, all the countries along the Danube river benefit from cleaner and healthier water. Ten Eastern European countries share a common water resource-river Danube. By buying open land along the watershed (area from which the water flows) these countries can preserve its purity from sewage, road and urban runoff, and such. The estimated land demand schedule for each country based on water treatment costs saved can be expressed as P = €21,200-30, where Q is acres purchased and P is the price per acre the country would be willing to pay What is the equation for the inverse (price is on the left-hand side) aggregate (i.o., for all 10 countries) demand for and as a private good.(approximately)? A.P= 10,600-0.3Qd OB.P=21,200-0.6Qd OCP-21,200-0.3Qd OD.P= 10,600-0.6Qd

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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