(e) Which of the two options would the producers prefer? Option 1 = (f) Which of the two options would be preferred by society? Option 1 +

Q: During a war, a government will often draft people, most of who are presently employed, into the…

A: When resources, such labor or supplies, are redirected towards military activities, there is a cost…

Q: Suppose that the logging industry in Canada is unregulated, and anyone can cut-down a tree on public…

A: In an unregulated market, the market equilibrium occurs at the intersection point of supply (or…

Q: Plants A and B emit 12 tons and 6 tons of carbon dioxide (CO2), respectively. MAC(marginal…

A: Given that; There are two Plants A and B A emits 12 tons of carbon dioxide B emits 6 tons of carbon…

Q: According to Ecological Economists "it is fallacious for a number of influential Economists, most…

A: Ecological economic An interdisciplinary field is ecological economics. It doesn't pretend to be a…

Q: Local government bans on plastic grocery bags due to environmental concerns have led to increased…

A: Economist argue that the free market allocates the goods efficiently so the government should not…

Q: Suppose that it costs 500 per day to search for chanterelle mushrooms at Pt.Reyes National…

A: The total weight of mushrooms is as follows: M=100x-x2, M represents total weight and x represents…

Q: The figure above shows a national marketable permit system for carbon dioxide. Which of the…

A: The permit price is determined by the supply of permits and demand for permits. The equilibrium…

Q: The chart above shows the market for polio vaccine in Pakistan. This vaccine provides external…

A: a. If there is a competitive market and no government intervention, then the amount will be…

Q: Suppose five people have houses on the same small lane. They all individually benefit from regular…

A: The marginal benefit refers to the maximum amount a consumer is willing to pay to acquire an…

Q: Use marginal cost/marginal benefit analysis to determine if the following statement is true or…

A: There is a low marginal benefit of reducing water flow from storm drains. This leads to the…

Q: A good example fo public good is a  a)lollypop b) beautification program for Cental Park in New…

A: Public good refers to a good which is non-rival in consumption and non-excludable in nature.

Q: In cost-benefit analysis, which is an example of the difficulty on a price for environmental issues?…

A: Cost-benefit analysis (CBA) refers to a method used to evaluate the costs and benefits of a…

Q: When China and Japan got into a snit in 2010, China cut off Japan's supply of the Rare Earth…

A:

Q: What are 4 examples of how non-rational human behavior can change an economic outcome?

A: Introduction Non-rational human behavior is behavior that is not based on logical or rational…

Q: Justify teachings of property law to students of economics

A: Private property refers to the ownership of resources by private individuals without any government…

Q: A3) Consider production involving a positive extemality. Which one of the following statements is…

A: An externality is said to occur when the consumption or production of a product incurs a cost or…

Q: Think about a country where most economic production comes from factories that create air pollution.…

A: 1. To have a lower level of pollution, factories may cut down the production to lower down the level…

Q: What is the socially optimal outcome?

A: Lets analyze the question.

Q: The city is contemplating making street improvements on a street with only two residents. The…

A: The evaluation of a project's efficiency involves weighing the added benefits against the extra…

Q: The costs or benefits of a market activity that affect a third party are called: A) externalities.…

A: Occasionally, a third party not directly participating in the transaction may incur additional costs…

Q: As the environment changes, the assumptions on which the goals were based, and ultimately the goals…

A: Given the statement is As the environment changes, the assumptions on which the goals were based,…

Q: From economic perspective, when is government intervention in the market justified? a) when there is…

A: Externalities refer to the costs or benefits that result from the production or consumption of goods…

Q: Which of the following has positive consumption externalities? (a) Building a highway. (b) Getting…

A: Positive externality means the benefits that are gained/experienced by a third party.

Q: Economists describe a choice as: Group of answer choices A. a tradeoff B. human C. limited resource…

A: Resources are limited in every economy but the wants of humans are unlimited and never ending. To…

Q: Suppose the Environmental Protection Agency (EPA) wants to mandate that all methane emissions must…

A: Sustainable development is the development of present generation without sacrifing the benefits or…

Q: If an outcome is economically efficient, does this mean that everybody involved benefits? Why?

A: Economic efficiency refers to the optimal production and consumption of goods and services. This…

Q: $4.00 E, (P = 3.25, Q = 250) S, $3.50 $3.00 $2.50 E, (P = 2.50, Q = 550) $2.00 Do $1.50 - $1.00…

A: The equilibrium price is the only price at which consumers' and producers' plans coincide—that is,…

Q: The diagram to the right depicts the market for cough medicine in a small town. The quantity of…

A: In a market, when an activity has a positive impact on society, it will increase social marginal…

Q: Scenario 21-3 Scott knows that he will ultimately face retirement. Assume that Scott will experience…

A: Saving refers to the demonstration of setting to the side a part of one's income or resources for…

Q: Public goods are normally produced by the government because: Response option group (a) The private…

A: Public good is non-excludable and non-rivalrous that means people cannot be stopped from accessing…

Q: Using an economic point of view, please describe and explain the following two situations: Describe…

A: Answer (1) The satisfaction of human needs and wants by optimally utilizing scarce resources of the…

Q: When an issue is complex, how do utilitarians often assess a proposed course of action? A) By…

A: Utilitarians: Individuals who follow the ethical theory of utilitariansim, which evaluates the…

Q: Roommates A and B are planning to buy public good that costs 190 per unit. Marginal benefits for…

A: Public goods can be consumed simultaneously by the many individuals. These goods are not rivals.

Q: Based on this model, households earn income when purchase in markets for factors of production.…

A: The circular flow of income model states that money flows from firms to households in the factors of…

Q: What factors into the opportunity cost for a decision? Select a Benefits from the best foregone…

A: Opportunity cost refers to the value lost because of choosing best alternative over given or choose…

Q: All else equal, what happens in the money market when the average price level falls (must show your…

A: The equilibrium interest rate is determined where the demand and supply for money are equal. The…

Q: A lighthouse, or terrestrial television, are considered to be examples of public goods (or services)…

A: The economics as a study is based upon the idea that the economies around the globe have a limit to…

Q: Assume that banks do not hold excess reserves and that households do not hold currency, so the only…

A: Money multiplier is inversely  related with the reserve ratio  Money multiplier is given as : -…

Q: What are some markets (goods or services) where an equilibrium might not be the most desirable…

A: A free market refers to a market in which the demand and supply levels of goods determine their…

Q: What can be used to determine if a choice is worth the cost?         cost-benefit…

A: The objective of the question is to identify the correct method used in economics to determine if a…

Q: Suppose 20 people each have the demand Q = 20 - P for streetlights, and 5 people have the demand Q =…

A: Externalities emerge in public goods production when individuals receive benefits (such as, from…

Q: 1. During the winter break, Sam decides to go for a skiing vacation in Aspen instead of taking piano…

A: Since you have posted multiple independent McQs, according to the guidelines, only the first…

Q: Suppose you are part of an economic analysis team charged with recommending a policy response to…

A:

Q: What factors determine whether a particular economic issue can be adequately analyzed by using a…

A: A difficulty with the economy's ability to produce products and services to meet the economy's…

Q: I'm waiting for the answer desperately It's in environmental economic textbook, kolstad.

A: suppose,The admission to euro land = 150 euros per person.Transportation cost including time cost=…