in the above example, at 3 runs the marginal revenue is $350 but the marginal private cost is $300 so, in the absence of legal liability for crop damage or a payment from farmers, the railway company's profit is higher at 4 runs than at 3.
Capitalize this past sentence correctly.
In the above example, at 3 runs the marginal revenue is $350 but the marginal private cost is $300 so, in the absence of legal liability for crop damage or a payment from farmers, the railway company's profit is higher at 4 runs than at 3.