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- In economic term, COVID-19 vaccinations provide A. negative externality B. positive externality C. sunk costs D. wasteA local drama company proposes a new neighbourhood theatre in Vancouver. Before approving thebuilding permit, the city planner completes a study of the theatre’s impact on the surroundingcommunity.a. One finding of the study is that theatres play very loud music, which adversely affects thecommunity. The city planner estimates that the cost to the community from the extra traffic is$7 per ticket. What kind of an externality is this? Why?b. Graph the market for theatre tickets, labelling the demand curve, the social-value curve, thesupply curve, the social-cost curve, the market equilibrium level of output, and the efficient levelof output. Also show the per-unit amount of the externality. c. On further review, the city planner uncovers a second externality. Rehearsals for the plays tendto run until late at night, with actors, stagehands, and other theatre members coming and goingat various hours. The planner has found that the increased foot traffic improves the safety of…A positive externality results when A. someone pays for a good or service even though she is not directly affected by the production or consumption of it. B. people who are not directly involved in producing or paying for a good or service benefit from it. C. economists are sure that a good or service provides benefits to consumers. D. people who live in one country benefit from the production of a good or service that occurs in another country.
- If producing a good generates pollution (a negative externality), from a social perspective ... a. the price will be too low and the quantity produced will be too low. b. the price will be too low and the quantity produced will be too high.c. the price will be too high and the quantity produced will be too low. d. the price will be too high and the quantity produced will be too high. e. the price will be too low but the quantity produced will be correct.Which one does not belong to the externalities contributed by oil? a. Emissions that pollute the environment. b. National security c. Hydrocarbons that potentially contribute to climate d. Mercury emission from burning oil to produce electricity.Fish that swim in international waters are a common good that are freely available toanyone who wants to catch them, but this leads to the problem of over-fishing. At theheart of this problem lies an externality. Using appropriate diagrams andaccompanying discussion, show both how and why this over-fishing takes place. Inyour explanation, identify the source of the externality.
- A. 寺,田 A A Q I U A X X, A ab A A AaBbCcDd AaBb AaBbC AABBCI Heading 2 Heading 3 s New Roman 12 Normal Heading 1 4. a subsidy to producers in correcting for a positive externality? 2. Refer to Tables 4.1 and 4.2, which show, respectively, the willingness to pay and willingness to accept of buyers and seller of bags of oranges. For the following questions, assume that the equilibrium price and quantity depend on the following changes in supply and demand. Also assume that the only market participants are those listed by name in the two tables. a. What are the equilibrium price and quantity for the data displayed in the two tables? b. Instead of bags of oranges, assume that the data in the two tables deal with a good (such as fireworks displays) that can be enjoyed by free riders who do not pay for it. If all the buyers in the two tables free ride, what quantity will private sellers supply? c. Assume that we are back to talking about bags of oranges (a private good), but that the…Which of the following is a positive externality? A. bike pathsB. contaminated waterC. food produced in unsanitary processing plantsD. automobiles produced without seat beltsEconomics Which of the following goods is nonexcludable? O a can of Coke O a concert at Radio City Music Hall O national defense O an apartment building
- A good that is rival and non-excludable is?A good is nonexcludable if A. when you pay for the good, you are guaranteed to be the sole consumer. cem O B. nobody can be excluded from enjoying the benefits of the good. OC. it is also nonrival. O D. only the government can produce it. O E. when you consume a unit, that means there is no less for someone else. As Ass O Time Remaining: 00:59:46 ed Assignments (6) vDefine externality and it's importance.