explain whether there has been a market failure, what type of failure, and what measures might solve it,  You should consider: the advantages and disadvantages of any solution whether doing nothing might be the best solution the concept of efficiency anything else you think important. A local factory is using a river for cooling, but this reduces the amount of wildlife in the river. The river is not owned privately.

Q: e the nature of t

A: An externality is a cost or benefit being caused by a producer which is not either financially…

Q: Refer to the Figure. This graph represents the market for cigarettes. This market Price 34 32 30 28…

A: In a competitive market, the market forces of demand and supply of a good determine the equilibrium…

Q: Required information er to the above graph to answer this question What is the value of the per unit…

A: The marginal external cost is the additional cost imposed on the third party by producing the extra…

Q: Why do governments (city, state or national) often provide funding for creating and maintain public…

A: Answer - Public Good - Public goods the those goods which are non-rival and non-excluding in nature…

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: What is the best example of a public good? Group of answer choices Street lights Music Education…

A: A private good is a good that builds a positive externality and people must pay a price for it. A…

Q: The graph shows the market for North Atlantic tuna. The quantity of tuna that fishers catch i…

A: In the language of economics, market equilibrium occurs when producers' willingness to supply an…

Q: Please indicate which of the following is or is not a public good: 1. A public swimming pool at the…

A: Types of Goods: Economics often describes goods by whether they are excludable or rivalrous. Being…

Q: Uses of public market

A:

Q: An economically efficient level of smoking:   a. means people would not smoke   b. occurs at the…

A: Externalities:-  Externalities are circumstances where the impact of producing or consuming products…

Q: What causes market failure when there is marine pollution.

A: Market failure takes place when the allocation of services and items by a free market is…

Q: Many restaurants have chosen not to serve shark fin soup, while many others continue to serve it.…

A: Due to growing Western disapproval and a crackdown on corruption and extravagant consumption, shark…

Q: Which of the following would be considered an environmental obstacle to good performance? Select an…

A: Employers are always concerned about the performance of their workers and employees. This is because…

Q: Which of the following is an example of a public good? A. Movie Theater B. Tacos C. Natural History…

A: Answer: A public good is good that is both non-excludable and non-rival. Natural History Museum (if…

Q: Government raises it's expenditure on producing public goods. Which economic value does it reflect?…

A: # The goods which are available to all the public without any motive of Profits are public goods.

Q: Do environmental issues require public intervention in the private marketplace? Distinguish among…

A: Environmental issues have to be addressed through public intervention even if it is taking place in…

Q: Carefully explain the terms 'non-rivalry' and 'non-excludability'. Provide an example of a good with…

A: Non-excludability means that no individual can be excluded from using the goods and non-rivalry…

Q: What is America's Great Outdoor Initiative, what is its purpose, and who established it?

A: An environmental policy is a set of laws, regulations, and initiatives aimed at protecting the…

Q: Why is open access fishing a problem from both an economic and environmental perspective? What…

A: Open access fishing : When fishing is open to all and there are no limitation on fishing then is is…

Q: Taxes and subsides work together by____ the price of polluting technology or goods and___ the price…

A: Taxes and subsides work together by____ the price of polluting technology or goods and___ the price…

Q: Which organization was created in 1991 to provide grants for global environment projects?  Group of…

A: Helping nations to work on the supportability of ensured region frameworks, for example, public…

Q: In response to increasing concern about man made climate change, there have been a number of policy…

A: The problem of environmental degradation occurs (pollution) due to the human economic activities and…

Q: After Nike built a plant in a rural area, it discovered that families were taking their children out…

A: The firm starts its branch in a remote area and that starting of the new branch leads to the locals…

Q: A change in the level of an economic activity is desirable and should be undertaken as long as the…

A: Economic activity is an activity in which people supply, manufacture, buy or sell goods or services…

Q: How many fish should a commercial fisherman try to catch in a day? Should he catch as many as…

A: The operational expenditures that fisherman spend, such as fuel, labour, and maintenance costs, have…

Market Equilibrium and Failure

The economy of a country or any place depends on the market demand and market supply of goods and services.