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Asked by Bryan Cakir on Jun 12, 2024

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The city of Econoville currently charges a fee of $0.50 to residents for each 50 gallon can of trash the city garbage service collects from their residence. A 50 gallon can of recyclable trash costs a resident $3.50 to be collected. The marginal social cost of garbage disposed is: The city of Econoville currently charges a fee of $0.50 to residents for each 50 gallon can of trash the city garbage service collects from their residence. A 50 gallon can of recyclable trash costs a resident $3.50 to be collected. The marginal social cost of garbage disposed is: where is a 50 gallon drum of garbage disposed. The marginal social cost of garbage recycled is: The marginal benefit function of garbage removed from residences is: Given the payment plan for garbage disposal, what level of garbage are the city residents disposing each year? How much will each resident recycle with this payment plan? Is this level of disposal and recycling efficient? Why or why not? What is the optimal level of garbage disposed and garbage recycled in Econoville? How can Econoville encourage residents to dispose and recycle the optimal amounts of garbage? where The city of Econoville currently charges a fee of $0.50 to residents for each 50 gallon can of trash the city garbage service collects from their residence. A 50 gallon can of recyclable trash costs a resident $3.50 to be collected. The marginal social cost of garbage disposed is: where is a 50 gallon drum of garbage disposed. The marginal social cost of garbage recycled is: The marginal benefit function of garbage removed from residences is: Given the payment plan for garbage disposal, what level of garbage are the city residents disposing each year? How much will each resident recycle with this payment plan? Is this level of disposal and recycling efficient? Why or why not? What is the optimal level of garbage disposed and garbage recycled in Econoville? How can Econoville encourage residents to dispose and recycle the optimal amounts of garbage? is a 50 gallon drum of garbage disposed. The marginal social cost of garbage recycled is: The city of Econoville currently charges a fee of $0.50 to residents for each 50 gallon can of trash the city garbage service collects from their residence. A 50 gallon can of recyclable trash costs a resident $3.50 to be collected. The marginal social cost of garbage disposed is: where is a 50 gallon drum of garbage disposed. The marginal social cost of garbage recycled is: The marginal benefit function of garbage removed from residences is: Given the payment plan for garbage disposal, what level of garbage are the city residents disposing each year? How much will each resident recycle with this payment plan? Is this level of disposal and recycling efficient? Why or why not? What is the optimal level of garbage disposed and garbage recycled in Econoville? How can Econoville encourage residents to dispose and recycle the optimal amounts of garbage? The marginal benefit function of garbage removed from residences is: The city of Econoville currently charges a fee of $0.50 to residents for each 50 gallon can of trash the city garbage service collects from their residence. A 50 gallon can of recyclable trash costs a resident $3.50 to be collected. The marginal social cost of garbage disposed is: where is a 50 gallon drum of garbage disposed. The marginal social cost of garbage recycled is: The marginal benefit function of garbage removed from residences is: Given the payment plan for garbage disposal, what level of garbage are the city residents disposing each year? How much will each resident recycle with this payment plan? Is this level of disposal and recycling efficient? Why or why not? What is the optimal level of garbage disposed and garbage recycled in Econoville? How can Econoville encourage residents to dispose and recycle the optimal amounts of garbage? Given the payment plan for garbage disposal, what level of garbage are the city residents disposing each year? How much will each resident recycle with this payment plan? Is this level of disposal and recycling efficient? Why or why not? What is the optimal level of garbage disposed and garbage recycled in Econoville? How can Econoville encourage residents to dispose and recycle the optimal amounts of garbage?

Marginal Social Cost

The cumulative expense incurred by society for creating one more unit of a product or service, encompassing both direct private costs and any external effects.

Garbage Recycled

The process of collecting, processing, and reusing materials that would otherwise be thrown away as trash.

Payment Plan

An arrangement between a seller and a buyer that allows the buyer to pay off a purchase over time in instalments.

  • Achieve understanding of the concept pertaining to marginal external costs and benefits in economic endeavors.
  • Examine the importance and consequence of public sector actions, such as imposing taxes and setting standards, in addressing market flaws.
  • Gain an understanding of the economic framework of public amenities and programs, including those related to waste management and recycling.
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Peyton PhillipsJun 14, 2024
Final Answer :
With the payment plan, residents set: With the payment plan, residents set: Residents do not recycle any garbage because the net benefit of disposal is always greater than the net benefit of recycling. The marginal social cost of this level of garbage disposal is $12.50. This level of disposal is not efficient because the marginal benefit is $0.50 while the marginal cost society pays is $12.50. The efficient level of disposal and recycling requires: The optimal choice of disposal requires: With the current payment plan, city residents are disposing too much and recycling too little. In order to bring about the optimal level of disposal and recycling, the city of Econoville could raise the cost per 50 gallon can of trash disposed to $12.50. Then, a recycling fee plan that charges $2.50 for the first can of recyclable garbage and rises $2.50 for each subsequent can would be optimal. Residents do not recycle any garbage because the net benefit of disposal is always greater than the net benefit of recycling. The marginal social cost of this level of garbage disposal is $12.50. This level of disposal is not efficient because the marginal benefit is $0.50 while the marginal cost society pays is $12.50. The efficient level of disposal and recycling requires: With the payment plan, residents set: Residents do not recycle any garbage because the net benefit of disposal is always greater than the net benefit of recycling. The marginal social cost of this level of garbage disposal is $12.50. This level of disposal is not efficient because the marginal benefit is $0.50 while the marginal cost society pays is $12.50. The efficient level of disposal and recycling requires: The optimal choice of disposal requires: With the current payment plan, city residents are disposing too much and recycling too little. In order to bring about the optimal level of disposal and recycling, the city of Econoville could raise the cost per 50 gallon can of trash disposed to $12.50. Then, a recycling fee plan that charges $2.50 for the first can of recyclable garbage and rises $2.50 for each subsequent can would be optimal. The optimal choice of disposal requires: With the payment plan, residents set: Residents do not recycle any garbage because the net benefit of disposal is always greater than the net benefit of recycling. The marginal social cost of this level of garbage disposal is $12.50. This level of disposal is not efficient because the marginal benefit is $0.50 while the marginal cost society pays is $12.50. The efficient level of disposal and recycling requires: The optimal choice of disposal requires: With the current payment plan, city residents are disposing too much and recycling too little. In order to bring about the optimal level of disposal and recycling, the city of Econoville could raise the cost per 50 gallon can of trash disposed to $12.50. Then, a recycling fee plan that charges $2.50 for the first can of recyclable garbage and rises $2.50 for each subsequent can would be optimal. With the current payment plan, city residents are disposing too much and recycling too little. In order to bring about the optimal level of disposal and recycling, the city of Econoville could raise the cost per 50 gallon can of trash disposed to $12.50. Then, a recycling fee plan that charges $2.50 for the first can of recyclable garbage and rises $2.50 for each subsequent can would be optimal.

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