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Determining the damage to the environment

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Reference no: EM132246758

Suppose the marginal cost for mineral water production in a small isolated country is 20 + Q, and the demand for mineral water is P = 80 - 2Q, where P is the dollar price and Q is the tons of mineral water produced. Suppose the processing procedure in mineral water production generates pollution, which incurs damage to the environment described by a marginal function of MEC = Q.

a) What quantity will the market tend to without any intervention?

B) What price will the market tend to without any intervention

C) What is the socially optimal quantity?

D) What is the socially optimal price?

E) Does the competitive equilibrium incur any deadweight loss? If so, how much? If none, enter 0

F) If the government intends to impose a production tax to reach the socially optimal level of pollution, how much should the tax be?

Reference no: EM132246758

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