Ground level ozone shift the marginal cost of producing

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Assume reductions in the amount of ground level ozone shift the marginal cost of producing alfalfa from MC1= 45 + 2QS to MC2= 45 + 0.5QS. Use the producer surplus to estimate the maximum amount alfalfa producers would be willing to pay for this improvement in the airquality if the market price of alfalfa is $60/unit of output.

Reference no: EM13801674

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