Author Question: Refer to Scenario 16.1 below to answer the question(s) that follow.SCENARIO 16.1: The marginal ... (Read 12 times)

Medesa · **on:** Apr 19, 2019

Refer to Scenario 16.1 below to answer the question(s) that follow.

SCENARIO 16.1: The marginal benefit for a particular food is described by
MB = 30 -
q, where q refers to the quantity of the food. The marginal cost of producing the food is described by
MC = 2
q. There is a negative externality associated with food production and the marginal social cost of food production is
MSC = 4
q.

Refer to Scenario 16.1. The efficient output level is ________ and the efficient price is ________.

◦ 10 units of food; $20
◦ 6 units of food; $24
◦ 0 units of food; $0
◦ 4.29 units of food; $25.71

jaykayy05 · **Reply #1 on:** Apr 19, 2019

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