•Given the tariff on output and subsidy on chemicals calculate the transfer in private profits caused by these policies. Tradable input cost ($ 000) Revenues Costs Profit Inputs Factors Private 7,000 900 2,000 4,100 Social 5,000 1,000 2,200 1,800 Divergence 2,000 -100 -200 1700
•Given the tariff on output and subsidy on chemicals calculate the transfer in private profits caused by these policies. Tradable input cost ($ 000) Revenues Costs Profit Inputs Factors Private 7,000 900 2,000 4,100 Social 5,000 1,000 2,200 1,800 Divergence 2,000 -100 -200 1700
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter12: Environmental Protection And Negative Externalities
Section: Chapter Questions
Problem 14RQ: What is an externality?
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Transcribed Image Text:•Given the tariff on output and subsidy on chemicals calculate the transfer in private profits caused by
these policies.
Tradable input cost ($ 000)
Revenues
Costs
Profit
Inputs
Factors
Private
7,000
900
2,000
4,100
Social
5,000
1,000
2,200
1,800
Divergence
2,000
-100
-200
1700
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