Multiple Choice
Suppose the market for oranges is perfectly competitive and unregulated.Suppose also that the chemicals used to keep the oranges insect-free damage the environment by an estimated $1 per bushel of oranges.Suppose QD = 1000 - 100P and QS = -100 + 100P.The total dollar value damage to society is
A) 400
B) 450
C) 500
D) 550
Correct Answer:
Verified
Correct Answer:
Verified
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