Sprawl is an example of market failure when: A. The elasticity of urban land growth with respect to population is greater than one. B. It can be shown that the extent of the city is associated with a specific cause or causes of market failure, such as externalities. C. It can be shown that the growth of the city is associated with less dense development. D. The elasticity of urban land growth with respect to commuting cost is zero.

Sprawl is an example of market failure when: A. The elasticity of urban land growth with respect to population is greater than one. B. It can be shown that the extent of the city is associated with a specific cause or causes of market failure, such as externalities. C. It can be shown that the growth of the city is associated with less dense development. D. The elasticity of urban land growth with respect to commuting cost is zero.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter32: The Land Market And Natural Resources

Section: Chapter Questions

Problem 10E

See similar textbooks

Similar questions

Write down a model of positive production externality with two firms, in which theproduction activities of one firm directly affects the production/cost of the other firm.State and explain the key assumptions of the model. Using the model, answer thefollowing questions:(a) Explain why the presence of a positive production externality could prevent therealisation of an efficient outcome.(b) Name a possible cure for the positive production externality and explain how itcould solve the inefficiency problem.
How should the government initially allocate transferable emissions permits among firms if it wants the target level of emissions to be achieved at minimum cost? O A. Give permits to firms in direct proportion to the amount of emissions each generates. OB. Give more permits to firms that have lower marginal abatement costs. OC. Give each firm the same number of permits. OD. It doesn't matter how the permits are allocated as long as the firms can buy and sell them in a competitive market.
Some companies use this as an umbrella term to encompass all CSR efforts that make business more sustainable in the long term, including environmental efforts: O bottom-line O ethics O philanthropic O sustainability
The table below represents the combinations of beet and corn produced on å tract of lahd o given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 1500 Which of the following combination represents unattainable production levels with the current tract of land? Select one: O a. 8000 bushels of corn and 500 kg of beef O b. 6000 bushels of corn and 1300 kg of beef O c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef d. 200 bushels of corn and 1475 kg of beef e. 8000 bushels of corn and 1200 kg of beef
Which of these statements is not true? O In 1800, less than 10% of the US population lived in urban area OGDP per capita tends to be higher in cities than in urban areas O A good transportation system is a condition for cities to exit A principal city is the largest municipality in a metropolitan area
High-income people are willing to pay more thanlower-income people to avoid the risk of death.For example, they are more likely to pay for safetyfeatures on cars. Do you think cost–benefit analystsshould take this fact into account when evaluatingpublic projects? Consider, for instance, a rich townand a poor town, both of which are considering theinstallation of a traffic light. Should the rich town usea higher dollar value for a human life in making thisdecision? Why or why not?
Examples of transaction costs include (check all that apply): A. the cost of the externality. B. the difference between the private costs and social costs of production. C. the time required to negotiate an agreement. D. the cost of drafting a contract or agreement. E. the cost of monitoring an agreement. O O O O O
The table below represents the combinations of beef and corn produced on a tract of land of a given size and fertility Corn (bushels) Beef (kg) 10000 8000 6000 900 1200 4000 1400 2000 1475 0. 1500 Which of the following combination represents unattainable production levels with the current tract of land? Select one: O a. 8000 bushels of corn and 500 kg of beef O b. 200 bushels of corn and 1475 kg of beef O c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef O d. 8000 bushels of corn and 1200 kg of beef O e. 6000 bushels of corn and 1300 kg of beef
Suppose that a mayor of a large city believes strongly that education provides great benefits to the community andurges the state government to provide the district with more money. An economist would say that this reflects theMayor's belief that:Asince teachers are overpaid, the district needs more money to hire enough teachers for its classrooms.Bthere are positive external benefits associated with education.Cthere are nontrivial external costs associated with education.Dpublic schools provide a higher quality education than private schools.
Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?
Atlantis produces only coral beads and exotic shells. The table shows the marginal benefit and marginal cost schedules for exotic shells. If Atlantis produces 43 exotic shells, the marginal benefit from exotic shells To achieve allocative efficiency, Atlantis must O A. is less than; increase OB. exceeds; increase O C. is less than; decrease O D. exceeds; decrease the marginal cost of exotic shells. the quantity of exotic shells produced. 1 Exotic shells (per month) 39 40 1 42 43 4 41 44 Marginal benefit (beads per shell) 11 9 7 5 Marginal cost 4 1 1 2 3 5 17 29
The Wonderful local hospital in the Republic of Drugonia has an index of economic efficiency in production of 0.60 and a technical efficiency index of 0.90. Which of the following statements is true? of Select one: O a. That hospital's index of allocative efficiency in production is over 90%. O b. That hospital's index of allocative efficiency in production is equal to 0.75. O c. That hospital's index of allocative efficiency in production is equal to 60%. O d. That hospital's index of allocative efficiency in production is over 65%. page Next page