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- 9. Private solutions to correct for externalities Consider the following scenario: Suppose that a flower nursery benefits from having a butterfly farm located only a few miles away, because the presence of the insects greatly improves flower pollination. Lawyers for the two companies meet to draft a legal document specifying the number of butterflies the farm promises to maintain in exchange for payments to be made by the nursery. Which of the following types of private solutions to the externality of pollination has occurred in this case? Moral codes and social sanctions Charities Contracts Integration of different types of businesses through merger or acquisition It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when communications barriers or social customs are important enough relative to the potential gains involved that2. Rewrite the Literature for your Research by referring to the mentioned paper, this canbe a part of your literature study. Imagine you wanted to work with the followingresearch question: “In India, which factors motivate the vendors (running small/ microfirms) to utilize WhatsApp?”.Instruction: Imagine yourself working on the above research, and refer the mentionedpaper as a major part of your literature study. Cite most of the past researchesmentioned in this paper and prepare a literature write-up not exceeding 1000 words.Make sure your literature write-up is aligned with the research question mentionedabove. For more information about any research that has been referred by Modak andMupepi, you may download it using NMIMS digital Library.6.
- Antonio and Caroline are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Alfalfa Barley (Bushels per acre) (Bushels per acre) Antonio 40 8 Caroline 28 7 ___________has an absolute advantage in the production of alfalfa, and __________ has an absolute advantage in the production of barley. Antonio's opportunity cost of producing 1 bushel of barley is ____ bushels of alfalfa, whereas Caroline's opportunity cost of producing 1 bushel of barley is______ bushels of alfalfa. Because Antonio has a ______ opportunity cost of producing barley than Caroline,________ has a comparative advantage in the production of barley and_______ has a comparative advantage in the production of alfalfa.Figure above shows the Marginal Benefit to a village from harvesting forest land, as well as the Marginal Costs to a nearby City from the harvest. Assuming the Village controls the forest. Without any negotiation between the village and the City, how many acres will be harvested?15. Write short notes on; succession of WTO from GATT. Objectives of WTO Functions of WTO
- 126. Correcting for negative externalities - Taxes versus tradable permits Paper factories emit chemicals as a waste product. This generates a cost to society that is not paid for by the firm; therefore, pollution is a negative externality of paper production. Suppose the U.S. government wants to correct this market failure by getting firms to internalize the cost of pollution. To do this, the government can charge firms for pollution rights (the right to emit a given quantity of chemicals). The following graph shows the daily demand for pollution rights. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per ton) 50 45 40 35 30 25 20 15 10 5 0 0 Demand 50 100 150 200 250 300 350 400 450 500 QUANTITY (Millions of tons) Graph Input Tool Daily Demand for Pollution…14. Question 14 options: An entity formed between two or more parties to undertake economic activity together is known as --------------