Consider the market for fire extinguishers.a. Why might fire extinguishers exhibit positive externalities?b. Draw a graph of the market for fire extinguishers, labeling the demand curve, the social-value curve, the supply curve, and the social-cost curve.c. Indicate the market equilibrium level of output and the efficient level of output. Give an intuitive explanation for why these quantities differ.d. If the external benefit is $10 per extinguisher, describe a government policy that would yield the efficient outcome.

Q: If producing a good generates pollution (a negative externality), from a social perspective ... a.…

A: Negative externality occurs when the production of a good causes indirect negative impact on the…

Q: If a negative supply-side externality (also called a negative externality in production) occurs,…

A: Negative production externality occurs when the action of a supplier or a producer affects the third…

Q: From CNN what news article represents an issue ragards to Externalities or that can be realted to…

A: Externality is defined as a cost or benefit resulted from an economic activity caused to the third…

Q: The graph shows the demand for design school education. The marginal cost of this education is a…

A: The term "marginal cost" refers to the increase in production costs resulting from the development…

Q: 1.A good with a negative externality is an example of a market failure because * a.The price does…

A: Externalities can arise between producers, between customers or between consumers and producers.…

Q: Identify a positive externality in consumption via example, and if possible include a link to a…

A: A positive externality occurs when the consumption/production of a particular good or service…

Q: Which of the following is an example of an externality? (x) cigarette smoke that permeates an…

A: Externalities are important concepts in economics, representing the unintended side effects or…

Q: How would the owner respond to the negative externality caused by smokers?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: If a positive demand-side externality (also called a positive externality in consumption) occurs,…

A: Externality is the cost or benefit caused by action of either consumer or producer which affects the…

Q: Which activity generates a positive externality? You buy a new jet-ski and find $5,000 under the…

A: In economics, positive externality refers to the situation when one's action will provide benefit to…

Q: An externality is the impact of: a. None of the answers is correct. b. one person’s…

A: An externality is a market distortion that creates inefficiencies in the market outcome. It is the…

Q: Why do economists care about positive externalities?

A: The externalities are the additional costs or benefits experienced by the person who is not a part…

Q: Soybeans are produced and sold in a perfectly competitive market. The fertilizers used in soybean…

A: Since the question you have posted has multiple parts, we will answer the first three parts for you.…

Q: An externality has marginal benefits MB = 24 - 2q, marginal social benefits MSB = 24 - q and…

A: A positive externality occurs when the production and consumption of a good / service benefits a…

Q: Smokers impose negative externalities on non-smokers. Suppose the airspace in a restaurant is a…

A: If a manufacturing process has an adverse influence on unspecified third parties this is known as a…

Q: Explain the factors affecting Demand.

A: "Since you have asked multiple questions, we will answer only first question for you. If you have…

Q: What is an externality?  How do they affect market efficiency?  If an externality is present,…

A: Externality is an economic concept that describes the costs or benefits that a third party bears…

Q: How externalities and their impact the economy? explain the negative and the positive externalities…

A: The market failure is the inefficiency caused in the market when the resources are not allocated…

Q: A) Will a private firm have any incentive to produce and sell a public good? Please give an…

A:

Q: Question 22 Which of the following statements is false? a. Saving a portion of one's income in a…

A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…

Q: Consider a market with a positive externality. The market will tend to.... the good because the…

A: An externality is a cost or benefit that affects a party who did not choose to incur that cost or…

Q: 38. Negative externalities are also called a. positive externalities. b. external benefits. c.…

A: Externalities is the impact of action happening between two parties on some other third party.

Q: 24. When a good or service is Non-Rival and Non-Excludable, it is is classified as a a) Private Good…

A: Non-rival: A good or service is non-rival in nature if consumption of this good by a person does not…

Q: Explain the two main causes of market failure (externality and market power) and give an example of…

A: market failure is a situation in which the allocation of goods and services by a free market is not…

Q: Do not use chat gpt. Thank you!

A: Option a is correct:  In the case of an externality, the production of the good or service creates…

Q: a.  Graph the supply and demand curves, and calculate the equilibrium price and quantity. Make sure…

A:

Q: a. Label the equilibrium price and quantity (if there are no externalities in this market) as Po and…

A: In a market, market equilibrium is the output level when marginal benefit to the consumers equals…

Q: How do externalities affect the supply and demand curve? Please explain in detail with graphs and…

A: How do externalities affect the supply and demand curve? Please explain in detail with graphs and…

Q: The farmer takes the rancher to court and the judge decides putting up a fence is the farmer’s…

A: An economic concept known as an externality refers to the unintentional side effects or…

Q: An externality is Select one: a. the uncompensated impact of one person's actions on the well-being…

A: There is cost and benefit associated with every activity.

Q: Give an example of a negative externality and anexample of a positive externality

A: Negative Externality is an externality where the consumption/production of a good causes negative…

Q: QUESTION 38 | To internalize a positive externality: a. the consumers of a good could receive a…

A: Externality refers to an economy situation when the action or economic transaction of an individual…

Q: How does the law address either the "Tragedy of the Commons", the free-rider problem, or pollution…

A: The tragedy of the commons is a financial aspects problem where each individual has a motivation to…

Q: Water is normally bottled in plastic.  Let’s assume the manufacturing process emits fumes that…

A: Hi Student, Thanks for posting the question. As per the guideline, we are providing answer for the…

Q: 1. If you were to graph a measure of pollution on one axis and a level of economic activity (such as…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What are the socially optimal quantity and price?

A: Ans 1- Social optimum quantity is the situation where its marginal social benefit is equal to…

Q: Questions 12 & 13 relate to the following graph: $ P3 ď P₂ P₁ 12 The graph best represents: 13 Ở Qo…

A: "An externality represents a benefit or a cost generated by a producer or consumer and is not…

Q: best example of a positive external benefit generated

A: A positive external benefit is the benefit which an individual can get in spite of being unrelated.…

Q: Suppose that flu shots create a positive externality equal to $10 per shot. Further suppose that the…

A: Externality refers to spill-over effect of a good on third party which is not involved in either…

Q: a) Identify the factors that could contribute to a market failure in an economy and explain how a…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first question for you. If…

Q: What type of an externality is depicted in the graph above and why? b. Suppose the graph refers to…

A: Negative externality:- Whenever the creation or utilization of a commodity results in an expense to…

Q: Which statement is a positive externality? O Edwin has dozens of dogs that dig holes in your yard to…

A: Positive externality refers to a benefit that is obtained by third parties from the production or…