O Completed 20 out of 20 < Question 14 of 20 > All of these will lead to market failure EXCEPT if the good O is a public good. creates externalities. is a private good. O is a common property resource. LAPTOP LOGIN USERNAME: stude cer PASSWORD: Brow.
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A: Externality refers to spillover effect of an economic activity on society.
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Q: Qp = 2000 - 4P Qs = P - 100 Suppose college enrollment also generates a social benefit of $100 per…
A: Setting QD = QS, 2000 - 4P = P - 100 5P = 2100 P = 420 Q = 420 - 100 = 320
Q: Question 16 Marginal social cost equals marginal cost plus marginal cost. consumer; production O…
A: Marginal cost refers to the total cost that the society pays for the production of one more unit of…
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- What is the free rider problem?In what ways (it) company investments in research and development create positive externalities?Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table 12.8 shows the total costs of cleaning up the sewage to different levels, together with the total benefits of doing so. (Benefits include environmental, recreational, health, and industrial benefits.) Using the information in Table 12.8, calculate the marginal costs and marginal benefits of reducing sewage emissions for this city. See Production, Costs and Industry Structure if you need a refresher on how to calculate marginal costs. What is the optimal level of sewage for this city? Why not just pass a law that films can emit zero sewage? After all, the total benefits of zero emissions exceed the total costs.
- A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwoods forest and grow com, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table 12.11 shows possible combinations of economic output and environmental protection. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between T and R, decide which one is better. Why? In the choice between T and S, can you say which one is better, and why? If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice Q or S? Why?What arguments d0 low-income countries make in international discussions of global environmental clean-up?A city currently emits 15 million gallons (MG) of raw sewage into a lake that is beside the city. Table 12.13 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. Using the information in Table 12.13 calculate the marginal costs and marginal benefits of reducing sewage emissions for this City. What is the optimal level of sewage for this city? How can you tell?
- Consider the case of global environmental problems that spill across international borders as a prisoners dilemma of the sort studied in Monopolistic Competition and Oligopoly. Say that there are two countries, A and B. Each country can cheese whether to protect the environment, at a cost of 10, or not to protect it, at a cost of zero. If one country decides to protect the environment, there is a benefit of 16, but the benefit is divided equally between the two countries. If both countries decide to protect the environment, there is a benefit of 32, which is divided equally between the two centuries. In Table 12.10, fill in the costs, benefits, and total payoffs to the countries of the following decisions. Explain why, without some international agreement, they are likely to end up with neither country acting to protect the environment.In the Land of Purity, there is only one form of pollution, called gunk. Table 12.14 shows possible combinations of economic output and reduction of gunk, depending on what kinds of environmental regulations you choose. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the percentage reduction of gunk, and with the quantity of economic output on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between K and L, can you say which one is better and why? In the choice between K. and N, can you say which one is better, and why? If you had to guess, which choice would you think is move likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice L or M? Why?Completed 17 out of 20 estion 14 of 20 > A network externality is an external cost or benefit generated from the O virtuous cycle. O production of a network good. consumption of a network good. O network effect. LAPTOP LOGIN cen PASSWORD: Browarg USERNAME: student
- 2. only4help plzAiticle Link: https://bit.lv/3fbNtrFe The following graph represents the market for high-emissions cars. Answer this question assuming that the externality is not internalised. Price of high tmiiees vekides Secial Value Babetty high emistions vehiles What is the private value of the last unit traded (or the willingness to pay of the marginal buyer) in the market? P1 O P2 O P3 P4
