Price MC, =S Qe Figure 10 Demand and supply curves Qs Quantity Towards the right of Figure 10 are two circular red markers with a line between them that you can use to draw a MCp – subsidy curve on Figure 10. You can move the markers with the mouse by clicking on them and dragging. Alternatively, you can tab to each marker and then use the keyboard arrow keys. A report from Cycling England has suggested that a £70m investment in cycling each year could save the government £520m per year. The savings result from the positive benefits of increased cycling - lower carbon dioxide emissions and lower NHS costs as we become healthier. These positive consumption externalities are shown in the diagram below by the demand curve Ds. This is the level of demand society would prefer at each price once the externalities are recognised. The government decides to subsidise the production of bikes to encourage consumption of cycling. Move the markers to drag the line to the correct place on the diagram to show how a producer subsidy can lead to the socially optimal level of cycling.

Price MC, =S Qe Figure 10 Demand and supply curves Qs Quantity Towards the right of Figure 10 are two circular red markers with a line between them that you can use to draw a MCp – subsidy curve on Figure 10. You can move the markers with the mouse by clicking on them and dragging. Alternatively, you can tab to each marker and then use the keyboard arrow keys. A report from Cycling England has suggested that a £70m investment in cycling each year could save the government £520m per year. The savings result from the positive benefits of increased cycling - lower carbon dioxide emissions and lower NHS costs as we become healthier. These positive consumption externalities are shown in the diagram below by the demand curve Ds. This is the level of demand society would prefer at each price once the externalities are recognised. The government decides to subsidise the production of bikes to encourage consumption of cycling. Move the markers to drag the line to the correct place on the diagram to show how a producer subsidy can lead to the socially optimal level of cycling.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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