The state of Colorado requires oil and gas companies who use fracking techniques to
Chapter 12, Problem 11(choose chapter or problem)
The state of Colorado requires oil and gas companies who use fracking techniques to return the land to its original condition after the oil and gas extractions. Table 12.9 shows the total cost and total benefits (in dollars) of this policy. Land Restored (in acres) Total Cost Total Benefit 0 $0 $0 Table 12.9 Land Restored (in acres) Total Cost Total Benefit 100 $20 $140 200 $80 $240 300 $160 $320 400 $280 $380 Table 12.9 a. Calculate the marginal cost and the marginal benefit at each quantity (acre) of land restored. See Cost and Industry Structure if you need a refresher on how to calculate marginal costs and benefits. b. If we apply marginal analysis, what is the optimal amount of land to be restored?
Unfortunately, we don't have that question answered yet. But you can get it answered in just 5 hours by Logging in or Becoming a subscriber.
Becoming a subscriber
Or look for another answer