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The following table shows four firms, the amount each pollutes, the marginal cost for each firm to clean up pollution, and the total cost to each firm of eliminating all pollution.
The total discharge of these four companies is 300 tons. Assume there is no one else who pollutes. If the government establishes an effluent fee of $7.00 per ton, how much would the firms spend on reducing pollution?
Net Income
The total profit of a company after all expenses and taxes have been subtracted from revenue.
Revenues
The income generated from normal business operations, calculated by multiplying the price of goods or services by the quantity sold.
Dividends Payable
A liability account in a company's balance sheet indicating the amount in dividends that the company owes to its shareholders but has not yet paid out.
Operating Expenses
Expenses incurred from a company's operational activities, excluding the cost of goods sold, taxes, and interest expenses.
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