Essay
Suppose that the benefits and costs of water quality policy have been estimated as follows:
MSB = 40 - 0.8A MSC = 10 + 0.2A
TSB = 40A - 0.4A2 TSC = 10A + 0.1A2,
where A is the percentage of pollution abatement and the benefits and costs are measured in thousands of dollars.
a. Determine the range of abatement within which policy achieves positive net benefits.
b. Find the efficient level of abatement.
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