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dTap Cengage Learning Google Chrome .cengage.com/static/nb/ui/index.htm?nbld-6107388unbNodeld 2238035428deploymentid-56736680092511300073626598ielseN-978133os MINDTAP mework (Ch 10) ue Today at 11:59 PM EST The city has a campground whose visitors use the river for recreation. The city also has a chemical plant that dumps industrial waste into the river. This pollutes the river and makes it a less desirable vacation destination. That is, the chemical plant's waste decreases the campground's economic profit. Suppose that the chemical plant could use a different production method that involves recycling water. This would reduce the pollution in the river to levels safe for recreation, and the campground would no longer be affected. If the chemical plant uses the recycing method, then the chemical plant's economic profit is $2,000 per week, and the campground's economic profit is $2,700 per week. If the chemical plant does not use the recycing method, then the chemical plant's economic profit is $2,600 per week, and the campground's economic profit is $1,900 per week. These figures are summarized in the following table. Complete the following table by computing the total profit (the chemical plant's economic profit and the campground's economic profit combined) with and without recycling Profit Chemical Plant Campground Total (Dollars)(Dlare) (Dollars) 1,900 2,700 No Recycling 2,600 Recycing 2,000 Total economic profit is highest when the recycling production method is When the chemical plant uses the recycling method, the campground earns $2.700-$1.900-5800 more per week than it does with no recycling. Therefore, the camppround should be willing to pay sp to $800 per week for the cheical plant to recycle water However, the recycling method iecreases the chemical plant's economic profit by $2,600-$2.000- 5600 per week. Therefore, the chemical plant should be wiling to use theExplanation / Answer
1) Total profit by No recycling = 2600 + 1900 = 4500
2) Total profit by recycling = 2000 + 2700 = 4700
3) is used
4) Not use recycling method
5) Pay $ 600
6) Not use recycling
7) $ 800
8) Property right are assigned to chemical firm
9) False
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