Experiment 6
Section
3
Problem 6.1
Table 6.7:
Experimental Results in Session 1
Mean Price
$23.24
Number of Lawn Ornaments Sold
21
Total Profits of Sellers from Transactions
$125.00
Total Profits of Buyers from Transactions
$207.00
Total Cost of Pollution
$415.80
Total Profits of All Residents,
Net of Pollution Costs
-$83.80
Problem 6.2
Table 6.8
Mean Price
$32.00
Number of Lawn Ornaments Sold
12
Total After-Tax Profits of Sellers
from Transactions
-$27.00
Total Profits of Buyers from Transactions
$61.00
Total Tax Revenue
$240.00
Total Cost of Pollution
$237.60
Total Profits and Tax Revenue of All
Residents, Net of Pollution Costs
$36.40
Problem 6.3
Table 6.9:
Experimental Results in Session 3
Mean Price of Ornaments
$30.59
Mean Price of Permits
$10.36
Number of Lawn Ornaments Sold
11
Profits of Lawn Ornament
Sellers from Transactions
$64.50
Profits of Lawn Ornament
Buyers From Transactions
$83.50
Total Revenue of Permit Sellers
$114.00
Total Cost of Pollution
$217.80
Total Profits of All Residents,
Net of Pollution Costs.
$44.20
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Figure 6.5
Table 6.10:
Predictions of the Theory:
Session 1
Mean Price
$25

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- Spring '07
- Bergstrom
- Economics, Microeconomics, Supply And Demand, total profits, $171.00, $180.00, $198.00
-
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