C. ✓d.above.་Calculate the dead-weight loss for each vehicle type. Indicate it on your graphFor what values of 8 is the DWL from EEVs lower than gas? 189...Suppose that we have one city and two modes of transportation: energy efficientvenicles (EEV) and gas vehicles. The private marginal benefits and costs are described below.PMBEEV: PE=20-20PMC EEV: PE=2+ QPMB Gas: P=12-200PMC Gas: PG = 4+ Q&where PMB = private marginal benefit (demand), PMC = private marginal cost, and SMC = socialmarginal cost. Ther marginal external cost (MEC) varies by car type.MECE = 38MECG = 5where 8 is a positive number that measures the cleanliness of energy production.a.Derive the social marginal cost curves for EEVs and for gas vehicles.b_Draw two graphs: a graph of EEVs and a graph for gas vehicles. Include the SMC,PMC, atlu PMB. Label all intercepts.

To derive the social marginal cost (SMC) curves, we need to add the private marginal cost (PMC)…

Answered: C. ✓ d. above. ་ Calculate the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A competitive industry has production processes that generate pollution. okay with studies carried out on the affected population, the marginal costs associated with contamination are constant and 500 u.m. for each unit of the good produced. These costs are associated with lost working days, illness treatment costs and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1500 (um/unit). Market studies carried out by the firms estimate that if the price rises at 1,800 (mu/unit) the quantity demanded would drop to 200 units and the marginal cost of production of each firm at this new production level is 1,300 (m.u./unit). assume linearity in market demand and in the marginal costs of production of the firms. Graph to justify your answers. )Determine the level of tax that would have to be applied to production to achieve the social optimum.
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