Afirm, S , produces steel but also produces waste that contaminates a nearby river. Steel can be
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Question:
The cost function of thesteel firm is given by c s s where s is the output of steel in tons?
The level of waste, x is related to output by x s a fish farm, F is located downstream and is negatively affected by waste polluting the water.
Every fish produced by the farm can be sold for $ The cost function of the fish farm is given by cf;xf
The fish farm has a capacity constraint?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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