The diagram below shows the supply and demand diagrams for the competitive market for honey in one region. MC0 represents private marginal cost and MB0 represents private marginal benefit.
FIGURE 16-3
Refer to Figure 16-3. Assume there are two types of firms in this region-beekeepers that produce honey and orchard keepers that produce peaches. The bees provide a benefit to the orchard keepers by pollinating their peach trees. If the government subsidizes the beekeepers so as to fully internalize the externality, the equilibrium price of honey would be ________ and the allocatively efficient output would be ________.
◦ 11; 80
◦ 7; 100
◦ 9; 60
◦ 3; 80
◦ 5; 100
Heart Diagram
Apoptosis Diagram
Hubble’s Tuning Fork Diagram
Sunset Diagram of changes in East and West from Solstice
Honey
Rectification column Schematic diagram