The following table displays hypothetical annual total costs and total benefits of conserving wild tigers at several possible worldwide tiger population levels. Calculate the marginal costs of tiger conservation in the table below. (Enter numeric responses using integers.) Calculate the marginal benefits of tiger conservation in the table below. Population of Wild Total Cost ($ Marginal Cost Total Benefit ($ Marginal Benefit Tigers millions) millions) 0 0 40 2,000 60 115 4,000 110 185 6,000 165 250 8,000 225 310 10,000 290 365 12,000 360 415
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- What do you understand by externalities? Why do they have to be addressed for sustaining economic activity or human wellbeing? A private or a market mediated approach to address externalities may not always be adequate in resolving the issue, therefore a recourse to public sector solutions is inevitable? Give suitable examples in elaborating your answer. With DIAGRAM (400-500 words)(Figure: Toxic Waste) From the graph, external cost per ton of toxic waste would be Price ($ per ton) 2222288822 200 180 160 140 120 100 8 80 80 40 20 0 $60. $70. $80. $90. 10 20 30 0 40 50 GO 70 80 90 100 110 120 Quantity (tons of toxic waste)Suppose the marginal cost (MC) and marginal benefit (MB) of reducing nitrogen oxide air pollution are illustrated in the figure. Suppose initially 3 million tons of nitrogen oxides are being reduced. What is the net benefit to society of increasing the elimination of nitrogen oxide air pollution to 6 million tons? The net benefit is $ million. (Enter your response rounded to one decimal place.) Cost or benefit ($ per ton) 500- 450 400- 350- 300- 250- 200- 150- 100- 50- 0- 0 1 MC 2 3 4 5 6 7 8 Reduction (millions of tons per year) MB 9 10
- The accompanying table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed in the table are available for purchase. CPU Total Marginal Total Marginal GHz Benefit Benefit Cost Costs 2.0 $1,000 $900 2.5 $1,400 $ 100 3.0 $300 $1,200 3.5 $1,900 $ 1,500 4.0 $2,000 $ 400 The marginal cost of upgrading from a 2.5GHz to 3.0GHz computer is O $400. O $300. $200. O $100.Show all work. Draw graphs to explain your answers. The correct answers will include areas on the graph and dollar values. Suppose a chemical factory discharges waste products into a river resulting in significant damages to a local fishery. The marginal damage to the fishery (measured in terms of the value of lost fish stocks) is represented by the equation:MDC = 10E The chemical factory can reduce its effluent flows by treating its waste products. Its marginal abatement cost (MAC) function is given by the equation: MAC = 1,200 - 5E. What level of emissions will occur if the chemical factory is not regulated? What would the total abatement costs for the chemical factory be if emissions are controlled and reduced to zero? If no liability laws are in place, what damages will the chemical factory inflict on the fishery? (Hint: find TDC) If the government puts in place a liability law that requires the chemical factory to compensate the fishery for the damages it causes,…A city currently emits 16 million gallons (MG) of raw sewage into a lake that is beside the city. The table below shows the total costs (TC) in thousands of dollars of cleaning up the sewage to different levels, together with the total benefits (TB) of doing so. Benefits include environmental, recreational, health, and industrial benefits. Emissions Total Cost Marginal Cost Total Benefit Marginal Benefit 16 MG Current N/A Current N/A 12 MG 50 800 8 MG 150 1300 4 MG 500 1650 0 MG 1200 1950 Complete the table. What is the optimal level of sewage for this city? How can you tell?
- The impact of some pollutants results from their accumulating stock. Suppose a government policy limits emissions of such a pollutant to a constant 125 units per year. Further suppose these emissions dissipate at a rate of 3 percent per year. What will be the maximum stock of emissions that will accumulate over time? If this level of emissions continued forever, the stock will eventually reach integer.) units. (Enter your response rounded to the nearestThe following accompanying table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase. CPU Total Marginal Total Marginal GHz Benefit Benefit Cost Costs 2.0 $1,000 $900 2.5 $1,400 $100 $1,200 $1,500 3.0 $300 3.5 $1,900 4.0 $2,000 $400 The total benefit of a 3.0GHZ computer is:After two years of suspension, this 2022 the National Cheese and Wine Fair returns, which will take place on weekends from May 20 to June 5, in Tequisquiapan. The 42nd edition is expected to generate an economic benefit of 120 million pesos and receive 60,000 visitors, informed the Coordinator of Liaison and Monitoring of the State Tourism Secretariat, Yara Beltrán Gómez. During the presentation of the fair, he said that the state has more than 30 vineyards and 11 artisan cheese factories, emphasizing that it is the most visited wine tourism region in the country, attracting a million visitors annually. Based on your knowledge of economics, and that you are a supplier of grapes to produce Cavernet wine, and where you take the price of grapes as established by the market, determine the optimal amount of production. Includes graphical analysis. a) Where the IMG = Demand b) Donate the IMG=CMG c) Where the Img=CmeT d) All of the above
- What are the essential elements of a cost recovery model? How should parks be designed to meet increasing populations? And how can government rethink delivery of parks? THANK YOU IN ADVANCE.Question 4: Given the following graphic, where (Point A, B, C or D) is the optimal amount of irrigation and fertilizer to use found? How do you know? Explain why each of the other points optimal? Irrigation Per Acre 14 12 10 2 0 (0) Fertilizer Per Acre (∞) B 18 18.18Why might a wetland ecologist scoff at an economist when the economist claims to have come up with a "value" for wetlands, for use in benefit-cost analysis? Keep in mind that economists and ecologists tend to have very different ideas about the concept of “value” for environmental resources? Explain the differences between the concept of “existence value” for an economist, and the concept of “intrinsic value” for an ecologist.