Which of the following is an example of environmental standards? O A. tradable pollution permits O B. taxes on the level of pollution OC. legal limits on SO2 emissions O D. none of the above
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- 1) Which type of market failure does the following represent. a) Construction of a bowling alley in the center of a busy town. Choose one answer from list below. o Asymmetric information o Public good o Tragedy of commons o Positive externality o Adverse selection o Negative externalityPrice of a vaccination $140 Supply 110 75 D, marginal social benefit D= marginal private benefit 550 800 Quantity of vaccinations Refer to the Externality graph above. Government could increase the quantity of vaccinations by: O a. subsidizing the producer to provide the vaccinations. O b. subsidizing the consumer to receive the vaccinations. Oc. Government provides the good or service altogether. O d. none of the above. O e. A, B, and C.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?
- ASAPurco Use the chart below to answer the following question. The Socially Optimal Quantity of Pollution Select one: O a. $83 O b. $250 O c. $500 O d. $167 Marginal social cost, marginal social benefit $500 250 167 0 MSC MSB 83 125 Quantity of pollution The chart above shows the marginal social cost (MSC) and marginal social benefit (MSB) of pollution. Using the information provided in the figure, we can conclude the optimal Pigouvian tax per unit of pollution is:#21
- Time left 0:16:1 Suppose that elementary education creates a positive externality. If the government does not subsidize education, then Select one: the equilibrium quantity of education will be less than the socially optimal quantity of O a. education O b. the equilibrium quantity of education is optimal the equilibrium quantity of education will be greater than the socially optimal quantity of education C. Od. the equilibrium quantity of education will be equal to the socially optimal quantity of education Next page page r on this page4. Give an example of a negative externality and an example of a positive externality..?5. Which of the following best describes the issuance of permits to pollute as a way of influencing the amount of pollution? Permits to pollute: a. encourage business to pollute.b. should be purchased by those whose pollution is the least expensive to eliminate.c. should be purchased by those whose pollution is the most expensive to eliminate.d. are preferable over taxes because they can be limited to exactly the efficient amount of pollution.
- ੩ Macmillan Learning In accordance with the 1990. Clean Air Act, the state imposes a pollution limit on the market for steel manufacturing shown on the graph below. Place the line segment labeled "Pollution limit" at the optimal pollution limit. Price and cost ($ per ton) 3 2 1 10 9 Marginal social cost B 8 7 6 5 4 Pollution limit Marginal cost Demand = marginal benefit A 0 0 2 6 8 10 12 14 Quantity in thousands of tons 16 18 20 The socially optimal price is $ TOOLS хтоуSome observers believe that the current levels of pollution in our society are too high. True or False: If society wishes to reduce overall pollution by a certain amount, it is efficient to have firms with lower costs reduce greater amounts of pollution than those with higher costs. O True O False Which of the following statements is true about command-and-control approaches to reducing pollutions? Check all that apply. Command-and-control approaches are generally unable to target the firms that should undertake bigger reductions. Command-and-control approaches are efficient because they ensure each firm reduces the mandated amount of pollution. O Command-and-control approaches often rely on uniform reductions among firms. Economists argue that appropriate corrective taxes or tradable pollution rights will result in efficient pollution reduction. Which of the following statements support(s) this claim? Check all that apply. The government does not have to figure out which firms can…11.00 10.00 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 8 1.00 300 600 900 What kind of externality is depicted above? O a. A negative production externality O b. A positive consumption externality c. A positive production externality d. A negative consumption externality Demand 1200 1500 1800 2100 Supply Marginal Social Benefit 2400