7. two farmers, a and b, each apply 100 tons of manure on their fields. to reduce manure runoff, the government has decided to require a permit for each ton of manure applied. the government gives each farmer 50 permits. farmer a incurs losses of $25 for each ton of manure he does not apply, and farmer b incurs losses of $50 for each ton of manure he does not apply. what is the total cost of reducing runoff if firms are not allowed to buy and sell permits from each other? what is the total cost of reducing runoff if the firms are allowed to buy and sell permits from each other?

When selecting stock, some financial experts recommend to look at the opening price go with what you know examine the day’s range, earnings per share, and p/e ratio divide the dividend by the asking price

What is the relationship between marginal external cost, marginal social cost, and marginal private cost? a. marginal social cost equals marginal private cost plus marginal external cost. b. marginal private cost plus marginal social cost equals marginal external cost. c. marginal social cost plus marginal external cost equals marginal private cost. d. marginal external cost equals marginal private cost minus marginal social cost. marginal external cost a. is expressed in dollars, so it is not an opportunity cost b. is an opportunity cost borne by someone other than the producer c. is equal to two times the marginal private cost d. is a convenient economics concept that is not real

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a