Governments continue to provide public support to some farmers, even inthe absence of market failures. Choose the best explanation for thispractice according to public choice theory.O a. The marginal social cost of providing support is equal to themarginal social benefit.O b. All consumers are willing to pay higher prices to provide financialsupport to some farmers.O c. Vote-maximising governments are irrational in their response topowerful lobbying.O d. Government support goes to consumers in the form of pricecontrols, which balances the support given to farmers.O e. The benefits of the support are concentrated among a small andvocal group of farmers and the costs are widely dispersed amongmillions of consumers.

The public choice theory uses the economic tools to show or demonstrate that how the economic…

Sovermments continue to provide public support to some farmers, he absence of market failures. Choose the best explanation for thi practice according to public choice theory. O a. The marginal social cost of providing support is equal to th marginal social benefit. All consumers are willing to payv higher prices to provide firm

Sovermments continue to provide public support to some farmers, he absence of market failures. Choose the best explanation for thi practice according to public choice theory. O a. The marginal social cost of providing support is equal to th marginal social benefit. All consumers are willing to payv higher prices to provide firm

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

A corrective tax on pollution O a. sets the quantity of pollution. b. determines the demand for pollution rights. c. reduces the incentive for technological Innovations to further reduce pollution. d. sets the price of pollution. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
All part solution send me Q 5 and 6 with explain
Use the diagram below to answer the next three questions. What price and quantity will the firm in the diagram above produce? what's the socially optimal price and quantity?
e2
Figure 1. The graph depicts the market for plastic containers. Price 16- 14- 12- 10 8- 6 200 500 650 Social Cost Private Cost Demand Quantity Refer to Figure 1. In order to reach the social optimum, the government could O offer a subsidy of $8 per unit on the production of plastic containers. O impose a tax of $8 per unit on the production of plastic containers. O offer a subsidy of $4 per unit on the production of plastic containers. O impose a tax of $4 per unit on the production of plastic containers.
45 40 35 30 25 20 P ($) Social cost Supply 15 10 Demand 5 0 0 10 20 30 40 50 60 70 80 90 100 wanted to tax or subsidize this good to achieve the Refer to the figure above. If the government socially-optimal level of output, it would Select one: O a introduce a subsidy of $10 per unit. O b. impose a tax of $10 per unit. Oo impose a tax of $15 per unit. Od introduce a subsidy of $15 per unit. 8
A good is considered a public good if its benefits are as it is consumed and whose benefits Select one: diminished; cannot be withheld Ob. not diminished; can be withheld not diminished; are enjoyed by some. O d. diminished; can be withheld not diminished; cannot be withheld Next page page on this page ype here to search home prt sc F8 LA F5 (*了 F3 F4 & 3.
Why do markets fail to provide public goods? OA. Public goods are rival, so the government must prevent unfair competition among firms providing them. OB. Public goods provide positive externalities, so socially optimal production is higher than private production. must bear the cost. pro OC. Public goods prevent negative externalities, so the government D. Public goods are nonexclusive, so firms can't charge money for them. ← PREVIOUS mission VIEW GRA
Can you pls help me for below homework
A good is nonexcludable if A. when you pay for the good, you are guaranteed to be the sole consumer. cem O B. nobody can be excluded from enjoying the benefits of the good. OC. it is also nonrival. O D. only the government can produce it. O E. when you consume a unit, that means there is no less for someone else. As Ass O Time Remaining: 00:59:46 ed Assignments (6) v
V1
If a paper manufacturer does not bear the entire cost of the dioxin it emits, it will Select one: emit a lower level of dioxin than is socially efficient. b. emit an acceptable level of dioxin. emit a higher level of dioxin than is socially efficient. a. C. O d. not emit any dioxin in an attempt to avoid paying the entire cost.