Calculate the annual net benefits of raising price of wastes

Reference no: EM13179559

Imagine that the current price of waste disposal is $0.025/lb and the average waste disposal is 2.40 lb/p/d. When the price was previously $0.01/lb, the average waste disposal was 2.52 lb/p/d. Assume that the marginal social cost of waste disposal is $0.06/lb, that marginal social costs are constant with respect to quantity, and that the town has a population of 100,000. Fitting a linear demand curve to the two observed points, calculate the annual net benefits of raising the price of waste disposal to $0.05/lb.

Reference no: EM13179559

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