Improvement in the air quality if the market

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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 air quality if the market of alfalfa is $60/unit of output.

Reference no: EM131391838

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Improvement in the air quality if the market : 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 imp..

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