Question 1( i want answers to be hand written by expert and iwant a real...
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Economics
Question 1( i want answers to be hand written by expert and iwant a real answers on the graph also drawn by hands showing allthe result and answers of questions on graph like the one in thepicture) M is a flow uniformly-mixing pollutant. Its release allowsto generate marginal benefits B^(')(M)^("Actual ") to polluters andconsumers in the form of consumers and producers surplus andgenerates marginal damages D^(')(M). The true marginal benefits arenot known to the decision maker, who believes that the marginalbenefit curve is B^(')(M)^(GOV). Identify the socially optimallevel of pollution M^(**) and briefly discuss the result. Evaluate(graphically) the deadweight loss if the government sets a standard(command-and- control) given the information at its disposal.Evaluate (graphically) the deadweight loss if the government sets apigouvian tax given the information at its disposal. Brieflydiscuss the results.
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