Milk Number of cows (gallons per day per cow) 0 0 1 100 2 90 3 70 4 50 5 30 6 20 7 10 0 13) The table above gives the nu

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Milk Number Of Cows Gallons Per Day Per Cow 0 0 1 100 2 90 3 70 4 50 5 30 6 20 7 10 0 13 The Table Above Gives The Nu 1 (135.54 KiB) Viewed 37 times

Milk Number of cows (gallons per day per cow) 0 0 1 100 2 90 3 70 4 50 5 30 6 20 7 10 0 13) The table above gives the number of cows and the milk they can produce on a common pasture (no property rights). The marginal cost of allowing a cow to graze is 30 gallons per cow. With no government intervention, the equilibrium number of cows equals A) 1. B) 3. C) 5. D) 8. 14) Using the same information as problem 13, what is the efficient (socially optimal) number of cows that should graze on the pasture? A) 1. B) 3. C) 5. D) 8.