Below is the the market demand curve for yard leaf cleaning when only the marginal private benefits (MPB) that the homeowners receive from the clean yard are taken into account. If the government provides a subsidy to yard cleaning companies, equal to $10 per yard, the demand curve will shift and become the same as the marginal social benefit curve (MSB). Move the demand curve to illustrate that. Provide your answer below:
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- Marginal Social Cost: P = 1 + 2 Q Graph the market. Be sure to fully and clearly label the graph, including: the Demand (D), the Marginal Private Cost (MPC), the Marginal Social Cost (MSC), the Private Equilibrium Quantity (Qpe), Private Equilibrium Price as (Ppe), the Socially Optimal Price (Ps), the Socially Optimal Quantity (Qs), and the Deadweight Loss (DWL).Refer to the figure below. At the private market equilibrium quantity, the social marginal cost of the last unit produced is B * I I F G H Quantity (units/day) Price ($/unit) A U equal to E greater than less than less important than Social MC Private MC Demand the marginal benefit of the last unit produced.The table below describes the market for higher education. Higher education confers positive externalities on society, and so the private+social marginal benefits are higher than the private marginal benefits. 2 Quantity 10,000 11,000 12,000 13,000 14,000 Calculate the value of the subsidy that society would need to allocate to higher education in order to achieve the social equilibrium. Express your answer without units (i.e., if your answer is "$500", type "500" in the answer box). Type your answer.... # JOE 3 E W 5 X D 16 20 F3 C $ 4 Private marginal benefits $80,000 $75,000 $70,000 $65,000 $60,000 888 FA R F V % 5 T F5 6 MacBook Air B F6 Y Private+ social marginal benefits $90,000 $85,000 $80,000 $75,000 $70,000 & 7 H F7 tv NA U N * 8 J F8 1 ( 9 K M Marginal costs $70,000 $75,000 $80,000 $85,000 $90,000 O .O. L Aa P zoom
- What exactly is a Pigovian tax? Give some instances of how the Pigovian tax can be used to tackle environmental issues.Most countries today have subsidised the provision of education. Consider an imaginary country, Gondolin. Gondolin pays a subsidy of $10 000 per year to each student enrolled in tertiary education. Depict, with the help of a figure, the initial market for tertiary education in Gondolin, assume that: 1) education was left to the competitive free market; 2)the marginal private benefit is equal to the marginal social benefit; 3) themarginal private cost is equal to the marginal social cost. Now describe, using the help of the figure, the effect of the government subsidy on the price and quantity traded of tertiary education, where the X axis of the figure should be the quantity of students enrolled in tertiary education. You do not need to use actual numbers – focus on the direction of change in price and quantity traded caused by the subsidy.Use the graph attached What is the dead weight loss that results from this externality. a) QE - Q* b) Pc- PE c) Pc- Pp d) (Pc-Pp) * QE e) (Pc-Pp) * (QE-Q*) x ½
- The figure below shows the market for driver education programs. The market demand curve for driver education reflects only the marginal private benefit (MPB) that individual drivers receive from the programs. Since this is a market with positive externalities, suppose the government provides a subsidy for driver education programs that is equal to the marginal social benefit (MSB) minus the marginal private benefit (MPB), in this case, $20 per driver. With the subsidy, the demand curve will shift and become the same as the marginal social benefit (MSB) curve. Move the demand curve below to illustrate this shift. Be sure to take the exact size of the subsidy into account. Precise answers are required. Also, make sure to position the point Social equilibrium correctly. Provide your answer below: 65 S (MPC) -50- -45 -40 35 30 Market Equilibrium (150,30) Social Equilibrium (150 30) 25 20- 15- 10- -5 D(MPB) -50 50 100 150 200 250 300 350 400 450 500 -5 Quantity of driver education programs…The attached figure indicates the initial market for tertiary education in a country that pays a subsidy of $10 000 per year to each student enrolled in tertiary education. iI is assumed that assume that: 1) education was left to the competitive free market; 2) the marginal private benefit is equal to the marginal social benefit; 3) the marginal private cost is equal to the marginal social cost. Identify the area of the figure that depicts the total size of the subsidy paid by the government to the students enrolled in tertiary education. Who gains and who loses from such a subsidy?Below is the the market demand curve for reusable water bottles when only the marginal private benefits (MPB) that the owners of reusable water bottles receive are taken into account. Let's say that the government issued vouchers that ensured the reusable water bottle buyers received $10 per bottle. Assume that this will shift the demand curve to the marginal social benefit level (MSB). Move the demand curve to show this change and reposition the Social Equilibrium point to reflect the socially optimal price and quantity. Provide your answer below: 35 32.5 30 27.5 S (MPC)_ 25 22.5 Sacial Equilibrium (100,20) Market Equilibrium (100,20) 20 17.5 15 12:5 10 MPB 7.5 -5 2.5 175 200 Quantity -25 25 50 75 100 125 150 --2:5 -5 Price
- Some economists argue that early child care generates an external benefit to society. Consider the following supply-and-demand graph for early childhood education. A. How does the market equilibrium differ from what is best for society? B. If the government was going to provide a per-unit subsidy in this market in order to achieve the socially optimal outcome, how large of a subsidy would the government ne to provide? C. How much in total would the government need to spend in this market each month to achieve a socially optimal outcome? Price ($ per month) Supply $1,300 $1,200 $1,000 $900 Marginal social benefit Marginal private benefit (demand) 23 26 Quantity (millions per month)In the graph, the social equilibrium quantity is Price St (full social cost) Externality Cost Sp (private cost) P2 E P H. D Q, Q2 Q3 Quantityanswer to this q?
