$/cost800-MDC (Globe)Moc (Anvil)MAC (Anur)*MDC (Globe)=-20+12e★ MDC (Anvil) = -40+10eMAC (Anvil) = 750-2.3e40I160emissions The Marginal Abatement Costs of the firms in Anviliania can be represented by theequationMAC(Anvil.) = 750 - 2.3 eThe Marginal Damage Costs to the residents of Anviliania are given byMDC (Anvil.) = - 40 + 10 eThe Marginal Damage Costs to all residents (including the residents of Anviliania) areMDC (Globe) = -20 + 12 ea. Draw a diagram representing this situation.b. Determine the magnitude of the local market failure and the global market failure.c. Suppose that the Anvilianian government has given production subsidies to the firms inAnviliania. As a result, the firms have increased production (and the number of firmshave increased.). Consequently, the aggregate MAC is nowMAC' (Anvil.) = 800 - 2.3 e.Determine the magnitude of the intervention failure.

Anvilian pollution has local (Anvilian residents) and global (all residents) costs (external to…

Answered: $/cost 800- MDC (Globe) Moc (Anvil) MAC…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. (a) A company expects fixed cost of $55,000. Margin is to be 46 percent of the retail. Variable cost in addition to costs of goods is estimated at $0.06 per dollars of sale. Find the profit function using s for sales volume. (b) Square Hospital Limited charges every COVID patient a fixed amount for using their ICU facilities. What would be the graphical nature of the demand function of ICU in this case ? (c) Write down the general form of the Augmented matrix of a system of Linear Equation which consists of 5 equations and 4 unknowns. (0.5 0.5 (d) Calculate the steady state vector for the given transition matrix: (e) Assuming the nonnegativity constraints for each variables, calculate the total number of corner points for the following system of inequalities: 2x + 5y + 4z 2 29 3r + 2y + z 2 23 10r + 8y +5z > 62
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Question No. 6 A firm manufactures cars at its plant in Swindon. At a capacity of 100 cars per week it knows that it has an assembly cost of £5,000 per car. It needs to expand production and does a series of design and cost exercises. The results are summarized below. |TP(cars/week) 200 400 600 800 1,000 1,200 1,400 1,600 Ass. cost/car 3,000 2,500 2,300 2,200 2,000 2,400 2,800 4,000 (i) Plot the cost curve for the possible factory extensions. (ii) Is this a short run or long run cost curve? (iii) Explain why this curve is U shaped.

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