Econ 410 Public Finance

Feb 3rd, 2012
Studypool Tutor
California State Polytechnic University - Pomona
Price: $15 USD

Tutor description

This is for a class in Economics relating to Public Finance. All the answers are right and I showed my work on every single problem.

Word Count: 870
Showing Page: 1/3
7. Suppose that a firm's marginal production costs are given by MC= 10 + 3 Q. The firm's production process generates a toxic waste, which imposes an increasingly large cost on the residents of the town where it operates: the marginal external cost associated with the Qth unit of production is given by 6Q. What is the marginal private cost associated with the 10th unit produced? What is the total marginal cost to society associated with producing the 10th unit (the marginal social cost of the 10th unit)?The marginal private cost is 10 + 3(10) = 40. The external cost associated with the 10th unit is 6(10) = 60. So the marginal social cost of producing the 10th unit is 100. Overall this is the maximum the 10th unit can go because any other different type of calculation that I do will give me another type of answer which in this case would be the incorrect one. 11. Warrenia has two reg

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