二. Problems and Short-essay Questions
Please answer the following questions IN SEQUENCE. All questions may be answered in either Chinese or English.
1. Suppose there is a railway that runs coal-burning steam locomotives through a farming area and caused fires in the crop felds at harvest time. The crop damage from each train run is $200. To run trains, the railway company incurs a private marginal cost of $100n, where n denotes the number of train runs. For simplicity, assume there are no fixed costs. The revenue from a train run is $400.
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