The figure below shows the demand curve for a U.S. farmer for irrigating his land. It...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. Price ($) 275 Tools 250 225 MCpvt MCsocial 200 175 150 125 100 75 50 25 D=MBv=MBsod 10 20 30 40 50 60 70 80 90 100110120 Irrigation (acres) a. Draw the marginal private cost of irrigation on the graph. Instructions: Use the tool provided (MCpvt) and plot only the two endpoints across the entire range of output (0 - 100). b. Draw the marginal social cost of irrigation on the graph. Instructions: Use the tool provided (MCsocial) and plot only the two endpoints across the entire range of output (0 - 100). C. A U.S. farmer will irrigate acres d. The efficient level of irrigation is acres The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. Price ($) 275 Tools 250 225 MCpvt MCsocial 200 175 150 125 100 75 50 25 D=MBv=MBsod 10 20 30 40 50 60 70 80 90 100110120 Irrigation (acres) a. Draw the marginal private cost of irrigation on the graph. Instructions: Use the tool provided (MCpvt) and plot only the two endpoints across the entire range of output (0 - 100). b. Draw the marginal social cost of irrigation on the graph. Instructions: Use the tool provided (MCsocial) and plot only the two endpoints across the entire range of output (0 - 100). C. A U.S. farmer will irrigate acres d. The efficient level of irrigation is acres
Expert Answer:
Answer rating: 100% (QA)
a The cost per unit is constant means the MC private ... View the full answer
Related Book For
Microeconomics Principles, Problems and Policies
ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
Posted Date:
Students also viewed these physics questions
-
The figure below shows the demand, average total, and marginal cost curve for Pepe's Pet Salon which produces pet haircuts in a perfectly competitive market: Suppose that the firm's manager decides...
-
The figure below shows the market equilibrium (point B) at the intersection of demand and supply curves under perfect competition. Figure 11.5 D: Market demand curve S: Market supply curve Refer to...
-
The graph below shows the market demand curve for a good. Use the graph to find total revenue and marginal revenue at the given output levels. If the price is $8, then what is the total revenue is $...
-
In his book, The Federal Land Revisited, Marion Clawson proposed what he called the pullback concept: Under the pullback concept any person or group could apply, under applicable law, for a tract of...
-
Tallcrest discounted a $50,000, 45-day, 5% note receivable on August 10 at the local bank, which applies an 8% discount rate. Tallcrest had held the note for 25 days before discounting it. Record the...
-
The Forsyth School District contracted with Textor Construction, Inc., to build certain additions and alter school facilities, including the grading of a future softball field. Under the contract,...
-
Parents of minors took Apple to court in 2012 for supplying game applications, on iPhones, that were free but through which users could purchase in-game currencies. Apparently, parents would log on...
-
The following information is available for The Lucille Corporation for 2014: Instructions 1. Prepare the 2014 statement of cost of goods manufactured. 2. Prepare the 2014 incomestatement. Inventories...
-
Two large charged sheets are placed a distance D apart. The top sheet has uniform sur- face charge density + while the bottom sheet has uniform charge density -20. The sheets are large compared to...
-
Online Security Buddies provides consulting services to small businesses that require computer security but are too small to have their own IT person on staff. The business had the following account...
-
Discuss any five common mistakes in automotive manufacturing and explain how Poka-Yoke can address those problems with examples [5] abes in 118b13 273/05/20 Por 23/05 70/63/0
-
consider this company: Amazon . Compare Amazon's domestic environment in the U.S. versus its global environment of the European Union (EU). What are the barriers Amazon has been encountering in the...
-
The Number Partition problem asks, given a collection of non-negative integers S = {x,...,n} whether or not the integers can be partitioned into two sets A and A= S-A - such that xEA X = ) TEA X. 1....
-
what ways do cultural capital and social networks operate as mechanisms for stratification within hierarchical class systems?
-
Uncertainty in a business environment refers to lacking sufficient information necessary to predict future environmental needs and changes. Turbulence in a business environment refers to the amount...
-
What ethical considerations should be taken into account when advocating for social change, particularly in contexts where conflicting interests and values are at play?
-
Facts Betty Bettor stole $30,000 from her employer during 2020 to support her gambling habits. Her employer discovered the missing funds in 2021 and fired Betty. On her way home after losing her job,...
-
What is an access control list?
-
How might protective tariffs reduce both the imports and the exports of the nation that levies tariffs? In what way do foreign firms that dump their products onto the U.S. market in effect provide...
-
The efficiency loss of imposing an excise tax is due to: a. Paying a higher price per unit. b. Producing and consuming fewer units.
-
Because medical records are private, an individual applying for health insurance will know more about his own health conditions than will the insurance companies to which he is applying for coverage....
-
Which of the following types of epigenetic changes may promote cancer? a. DNA methylation b. Covalent modification of histones c. Chromatin remodeling d. All of the above may promote cancer.
-
The underlying cause(s) of epigenetic changes associated with cancer may be a. mutations in genes that encode chromatin-modifying proteins. b. environmental agents that alter the function of...
-
Normal (nonmutant) tumor-suppressor genes often function a. as negative regulators of cell division. b. in the maintenance of genome integrity. c. in the stimulation of cell division. d. as both a...
Study smarter with the SolutionInn App