The market for plasticans is perfectly competitive. Market Supply is given by Q=6P and Market Demand is given by Q=487-3P. Each extra unit of plastican produced imposes a negative externality of $5. What is the total cost of the externality at the market equilibrium? Enter a number only, no $ sign. Do NOT include a negative sign.
The market for plasticans is perfectly competitive. Market Supply is given by Q=6P and Market Demand is given by Q=487-3P. Each extra unit of plastican produced imposes a negative externality of $5. What is the total cost of the externality at the market equilibrium? Enter a number only, no $ sign. Do NOT include a negative sign.
Chapter14: Environmental Economics
Section: Chapter Questions
Problem 2SQ
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Transcribed Image Text:The market for plasticans is perfectly competitive. Market Supply is given by
Q=6P and Market Demand is given by Q=487-3P. Each extra unit of plastican
produced imposes a negative externality of $5. What is the total cost of the
externality at the market equilibrium? Enter a number only, no $ sign. Do NOT
include a negative sign.
1,623.33
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