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The Acme Waste Company of New York City dumps waste into the Atlantic.
It has a supply function of Q^s=5000p where p is the price per ton of waste disposed and Q is the quantity in tons. The demand for waste disposal for New York City residents is Q^= 400,000 - 1000p.
Unfortunately, the disposal system is not perfect: some of the waste washes up on the beaches of New Jersey.
The cost of cleaning up the beach is valued at $20 per ton of waste disposed. Use graphs and algebra to answer the following.
a) What is the market price of disposal? At this price how many tons will be disposed? b) What is the efficient amount of waste disposed? What price should be charged for disposal?
Compare and contrast Francis Edgeworth’s contributions to John Bates Clark’s contributions. Who do you feel made more significant contributions to modern economic theory?
The final submission of your project at the end of the term will be a 2000-3000 word document that you will submit to outline the problem, propose your solution, and recommend implementation of your solution.
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q1. you have a part-time work-study job at the library that pays 10 per hour 3 hours per day on saturdays and sundays.
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