To use energy resources efficiently, what costs would you suggest to be included in energy prices? a. Private costs. b. Private costs plus external costs. c. Social costs plus external costs. d. Social costs minus external costs.
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To use energy resources efficiently, what costs would you suggest to be included in
energy prices?
a. Private costs.
b. Private costs plus external costs.
c.
d. Social costs minus external costs.
Step by step
Solved in 2 steps
- With Diagram, show how external effects can change supply and demand in electricity generation.If producers do not consider the negative externalities associated with carbon emissions, then the market price of their goods will be optimal price and the quantity of their goods will be. quantity. than the than the optimal a. higher, lower. b. lower, higher. c. lower, lower. d. higher, higher. None of the above answers is correct. е.What would be the likely economic consequences of implementing a carbon tax on industries with high greenhouse gas emissions? A. Decreased production costs for industries. B. Increased investment in renewable energy sources. C. No change in the energy consumption of industries. D. Reduction in government revenue.
- A company that spends a huge amount of money to treat their waste and reduce a negative impact to the society ______. a. Decreases their external costs b. Increases their internal costs c. Causes no change d. Decreases their internal costsWhen should a private good be produced from an efficiency standpoint? A.When the marginal cost exceeds the sum of all of society’s marginal benefit B.When the marginal cost exceeds the marginal benefit from consumption C.When the sum of all of society’s marginal benefit exceeds the marginal cost D.When the marginal benefit from consumption exceeds the marginal costAnswer the question 1. Identify an external benefit that could be generated by the presence of a shopping mall for a local residents.
- What are the definitions of local public goods, club goods and congestible goods?A situation in which the Marginal Social Cost is greater than the Marginal Private Cost is a. Positive Consumption Externality ○ b. Positive Production Externality c. Negative Production Externality ○ d. Negative Consumption Externality Clear my choiceDescribe one economic benefit, other than energy cost savings, that may result from increasing the amount of vegetation in cities.
- Which statement about a product with external costs must be correct? A. The consumption of the product has positive effects on third parties B. The private costs of its production exceed the social costs of its production. C. The production of the product has negative effects on third parties. D. The social costs of its production exceed the social benefits of its production.Which of the following represents the true economic cost of production when firms produce goods that cause negative externalities? A. the social cost of production. B. the private cost of production. C. the external cost of production. D. the explicit cost of production.Which of the following statements is a challenge to the use of natural gas? a. Fracking has decrease supplies of natural gas. b. Its use results in higher carbon emissions than the use of coal. c. It has higher levelized cost than nuclear energy. d. Its use results in higher methane emissions than the use of coal.
