#8. A party ends up spreading the coronavirus. Is that an externality?a. Yes, it is a negative externalityb. Yes, it is a positive externalityc. No, it is not an externality

Answered: 3. A party ends up spreading the…

3. A party ends up spreading the coronavirus. Is that an externality? Yes, it is a negative externality Yes, it is a positive externality No, it is not an externality

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2 The market for education confers positive externalities on society. Which of the following is an example of a positive externality that it provides? Higher quality of public institutions like government and law Subsidies for providing education Higher salary for the person earning a degree More colleges and universities X OOOO W F2 3 16 80 F3 E 888 FA R DE F % V T MacBook Air 6 Y B & 7 H tv NA 2 N 8 K M 0 W Aa zoom 0
#9. A safe and effective coronavirus vaccine has positive externalities. Is it efficient for the government to provide this vaccine to everyone for free? a. Yes. Goods with positive externalities should always be free. b. Uncertain. Goods with positive externalities should be subsidized, but making them free is not necessarily efficient. c. No. According to the First Fundamental Welfare Theorem, the market will provide the efficient amount of vaccines on its own. с. d. No. Goods with positive externalities should be taxed.
38. Negative externalities are also called a. positive externalities. b. external benefits. c. external costs. d. all of the above. e.. none of the above. 39 Which of the following is a way governments have tried to deal with negative externalities? a. Governments can impose pollution taxes or green taxes. b. Governments can require specific pollution reduction technologies be used. c. Governments can use a cap and trade system with marketable emissions rights. d. all of the above. e. none of the above.
5. Candace was eating French fries and talking on the phone as she sped through traffic on the way to an important meeting. When a delivery driver was slow to pull off from the stop light, Candace, who'd taken her eyes off the road to grab a few more fries, slammed into the back of his car. Which of the following could be used to characterize Candace's contribution to this accident? (Circle all that apply) a. Physical hazard b. Moral hazard Morale haard or Atitude Attitudinal (Morale) hazard (Slate of Nind d. Legal hazard-Semathing LeaGl happens ond rquire in suners с. to indde Covérage.
43. A city currently emits 16 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. TC TB 16 MG Current Current 12 MG 50 800 8 MG 150 1300 4 MG 500 1850 O MG 1200 2000 Table 12.13 a. Using the information in Table 12.13 calculate the marginal costs and marginal benefits of reducing sewage emissions for this city. b. What is the optimal level of sewage for this city? How can you tell?
-0. Which of the following are examples of activities that yield external benefits? a. Your neighbor paints his house bright orange, pink, purple, black, red, and green. b. The person next to you in class is sick with the flu and keeps coughing toward you. c. Your neighbor blasts his stereo super loud from 3:00 a.m. to 5:00 am while he gets ready for work. d. All of the above are examples of activities that yield external benefits. e.. None of the above are examples of activities that yield external benefits. 1. Which of the following are examples of activities that yield external costs? a. Your neighbor paints his house bright orange, pink, purple, black, red, and green. b. The person next to you in class is sick with the flu and keeps coughing toward you. c. Your neighbor blasts his stereo super loud from 3:00 a.m. to 5:00 am while he gets ready for work. All of the above are examples of activities that yield external costs. d. e. None of the above are examples of activities that…
Spillovers or externalities: a. have been legislated out of existence. b. relate to both costs and benefits. c. None of the Above d. relate to benefits only. e. relate to costs only.
A. Figure 10-8 (above)- For the described positive externality, what is the market quantity without any efforts to correct the market? B. For a positive externality, briefly explain why and how the government may get involved in the market. In your response, provide an example (type of product or service).
Consider an infectious disease such as the flu which is spread primarily through virus particles in aerosolized respiratory droplets of already infected people. a In the midst of an infectious disease epidemic of this sort, is it privately rational for people to limit their exposure to other people, perhaps by staying home from work or not going to school? b An infected person who goes out into public areas and does not take precautions to contain their respiratory emissions clearly poses a negative externality on those around them. Does an uninfected person going out into public areas also pose a negative externality? c For a particularly severe disease outbreak of this sort, one possible government response is to exaggerate to the public both the harm that might arise from contracting the disease and the likelihood of contracting the disease. In what ways might such a strategy reduce the harm to the public from the disease epidemic? In what ways might such a strategy increase the…
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Historically, Vaccinations have prevented the spread of certain diseases such as chicken pox or megningtis. What type of externality takes place with the consumption of such vaccines. Explain with words and a graph.
Suppose you are the party who can avoid a particular external effect at the lowest cost. You might favor a general rule that assigns liability to whichever party can avoid damage at the lowest cost because the general rule implies that other parties multiple choice a. would not likely eliminate their externalities. b. would also eliminate their externalities. c. parties may or may not eliminate their externalities. d. would pay you to eliminate their externalities. I know the answer is not a. or c. it has to be either d or b