1) Since Mr. Leon polluted a lake the government has to clean up his mess. The following are the total benefits and costs associated with cleaning up his mess. % Cleaned Total Benefits Total Costs 20 50,000 500 40 90,000 1500 60 100,000 3,000 80 107,000 10,000 100 110,000 20,000 A)What amount should the government clean up? To answer this you must first calculate the marginal benefits and marginal costs associated with the clean up of the lake.

1) Since Mr. Leon polluted a lake the government has to clean up his mess. The following are the total benefits and costs associated with cleaning up his mess. % Cleaned Total Benefits Total Costs 20 50,000 500 40 90,000 1500 60 100,000 3,000 80 107,000 10,000 100 110,000 20,000 A)What amount should the government clean up? To answer this you must first calculate the marginal benefits and marginal costs associated with the clean up of the lake.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 43P: A city currently emits 15 million gallons (MG) of raw sewage into a lake that is beside the city....

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