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Category > Economics Posted 17 May 2017 My Price 4.00

household refuse collection

1.Consider the example of household refuse collection in Minneapolis. Assume that the marginal social cost (MSC) of collecting and disposing of it is $0.15/lb. Suppose that in 2011 there was a fee of $0.05/lb being charged and the quatity of refuse collected was 2.5lb/p/d. Suppose that in 2012 the fee was $0.1/lb and the quantity of refuse collected was 2.00lb/p/d. Now, the government is planning to increase the fee in 2014 to $0.12/lb.

(a) Assuming a linear demand function, calculate the change in total surplus from an increase in the fee from $0.10/lb to $0.12/lb.

(b) What is the optimal fee that would maximize social surplus?

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SuperTutor
(15)
Status NEW Posted 17 May 2017 08:05 AM My Price 4.00

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