Quantity Private Value Private Cost External Cost (Units) (Dollars) (Dollars) (Dollars) 1 46 21 6. 44 24 6. 3 42 27 40 30 5 38 33 6. 36 36 7 34 39 6. Refer to Table 10-4. Take into account private and external costs and assume the quantity of output is always a whole- number (that is, fractional units of output are not possible). The maximum total surplus that can be achieved in this market is $46. $29. O $40. $35. 4)

Quantity Private Value Private Cost External Cost (Units) (Dollars) (Dollars) (Dollars) 1 46 21 6. 44 24 6. 3 42 27 40 30 5 38 33 6. 36 36 7 34 39 6. Refer to Table 10-4. Take into account private and external costs and assume the quantity of output is always a whole- number (that is, fractional units of output are not possible). The maximum total surplus that can be achieved in this market is $46. $29. O $40. $35. 4)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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