The Following Table Shows the Marginal Private Cost (MPC) and the Marginal

question 24

Essay

The following table shows the marginal private cost (MPC) and the marginal social cost (MSC) of a chemical factory.
$$\begin{array}{l}\text { Tons af }\\\begin{array} { l l l } \text { Chenicals } & \text { MPC } & \text { MSC } \\\hline 1 & 100 & 120 \\2 & 110 & 130 \\3 & 120 & 140 \\4 & 130 & 150 \\5 & 140 & 160\end{array}\end{array}$$ Answer the following questions:
(1) What is the marginal cost of the factory's externality? Is it constant at all quantities?
(2) If the factory is a perfectly competitive firm and is not required by the government to internalize its external cost, how many tons should the factory produce, given that the market price of a ton of chemicals is $130?
(3) If the factory is a perfectly competitive firm and is required by the government to internalize its external cost, how many tons should the factory produce, given that the market price of a ton of chemicals is $130?
(4) Draw a graph illustrating your answers.

Determine the limiting reactant in a chemical reaction and understand its impact on the reaction yield.

Understand the concept and calculation of theoretical yield in chemical reactions.

Identify different types of chemical reactions, including oxidation-reduction, neutralization, precipitation, and combustion.

Understand the stoichiometric relationships in balanced chemical equations for quantifying reactants and products.

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Definitions:

Fat Distribution

The pattern and location of fat deposits on an individual's body, affecting health risks differently depending on whether it's centralized or distributed.

Increased Mortality

A rise in the number of deaths, often within a specific population or due to a particular cause.

Overweight

A condition characterized by having more body fat than is optimally healthy, often measured by body mass index (BMI).

Set-Point

The theory that each individual has a genetically determined range of weight and temperature that their body will try to maintain to stay at optimal health.