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Author Question: Refer to Scenario 16.2 below to answer the question(s) that follow.SCENARIO 16.2: The marginal ... (Read 44 times)

awywial

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on: Apr 19, 2019

Refer to Scenario 16.2 below to answer the question(s) that follow. 

SCENARIO 16.2: The marginal benefit for a particular food is described by 
MB = 60 — 
q, where q refers to the quantity of the food. The marginal cost of producing the food is described by 
MC = 3
q. There is a negative externality associated with food production and the marginal social cost of food production is 
MSC = 5
q.





Refer to Scenario 16.2. The competitive output level is ________ and the competitive price is ________.


◦ 20 units of food; $40
◦ 10 units of food; $50
◦ 0 units of food; $0
◦ 10 units of food; $20
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by awywial on Apr 19, 2019

memslove

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Reply #1 on: Apr 19, 2019
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awywial

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Reply 2 on: Apr 19, 2019
Wow, this really help

kjohnson

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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