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Homework answers / question archive / Suppose a city releases 16 million gallons of raw sewage into a nearby lake

Suppose a city releases 16 million gallons of raw sewage into a nearby lake

Economics

Suppose a city releases 16 million gallons of raw sewage into a nearby lake. The table below shows the total costs of cleaning up the sewage to different levels, together with the total benefits of doing so. (Benefits include environmental, recreational, health, and industrial benefits.) Using the information in the table, calculate the marginal costs and marginal benefits of reducing sewage emissions for this city. What is the optimal level of sewage for this city?

  Total Cost (in thousands of dollars) Total Benefits (in thousands of dollars)
16 million gallons Current situation Current situation
12 million gallons 50 800
8 million gallons 150 1300
4 million gallons 500 1850
0 gallons 1200 2000

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