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Homework answers / question archive / A tannery has a cost l2l2 of tanning ll tons of leather
A tannery has a cost l2l2 of tanning ll tons of leather. Tanned leather can be sold at $100 per ton. The tannery maximizes profits. The tanning process gives off unpleasant smells. Each ton of leather processed by the tannery has a social cost of $10( How much the neighborhood is willing to pay to avoid the smell).
a. Assuming the tannery ignores the effect of the smell, how much will it produce?
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