Taxes and pollution chargesA. eliminate external costs so that firms produce the efficient quantity and emit the efficient quantity of pollutionB. increase producers' costs so that they decrease the quantity produced to the point at which pollution is eliminatedOC. increase producers' costs so that they decrease production, which decreases pollution emissionsOD. that equal marginal social cost minus marginal social benefit result in the efficient quantity of pollutionWhen a cap-and-trade is implementedOA. the government determines the efficient quantity of pollution and firms buy and sell the allocated pollution permitsOB. the government subsidizes polluting firmsOC. polluting firms determine the efficient quantity of pollution and the efficient quantity of pollution permits, which they allocate among themselvesOD. the government gives pollution permits to the firms that pollute the least and other firms either decrease their pollution or leave the market

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Answered: Taxes and pollution charges OA.…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A natural spring runs under land owned by ten people. Each person has the right to sink a well and can take water from the spring at a constant marginal cost of $5 a litre. The table sets out the external cost and the social benefit from water. Quantity of water (litres per day) 10 20 30 40 50 60 70 Marginal external cost 1 2 3 4 5 6 7 Marginal social benefit (dollars per litre) 10 9 8 Draw the marginal cost curve. Label it. Draw the marginal social benefit curve. Label it. Draw the marginal social cost curve. Label it. 7 6 5 4 The government sets a quota on the total amount of water such that the spring is used efficiently. Draw a line to show this quota. Label it. C 14- 12- 10- 8- 6- 4. 2- Price and cost (dollars per litre) 0+ 0 10 20 30 40 50 60 70 80 Quantity of water (litres per day) >>> Draw only the objects specified in the question.
According to economists what is the optimal amount of pollution? O a. The optimal amount of pollution is where private costs equal social costs O b. Pollution should be reduced to a level as determined by government regulation O c. None, the goal is to completely eliminate pollution d. The point where the marginal benefit from further pollution reduction equals the marginal cost of further reduction
Price of a vaccination $140 Supply 110 75 D, marginal social benefit D= marginal private benefit 550 800 Quantity of vaccinations Refer to the Externality graph above. Government could increase the quantity of vaccinations by: O a. subsidizing the producer to provide the vaccinations. O b. subsidizing the consumer to receive the vaccinations. Oc. Government provides the good or service altogether. O d. none of the above. O e. A, B, and C.
1. why marine pollution is considered a negative externality? 2. Suggest a relevant government policy that would yield an efficient outcome and carefully explain the process through which the implementation of the government policy will lead to the optimal outcome as it relates to marine pollution. 3. How will the imposition of the chosen government policy impact consumer surplus, producer surplus, and total surplus as it relates to marine pollution.
Price and cost (dollars per unit) Curve I Curve 2 Quantity (units per day) Which of the following statements is true? When producing D cans of paint, the distance CD represents the marginal cost. O When producing D cans of paint, the distance CD represents the marginal social cost. When producing L cans of paint, the distance AB represents the marginal external cost. Which of the following statements is true? When producing D cans of paint, the distance CD represents the marginal When producing D cans of paint, the distance CD represents the marginal cost. When producing D ca s of paint, the distance AB represents the margina external cost. Curve 2 represents the marginal external cost. None of the above.
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in the town of Externalia, vaccination programs create additional benefits to the community, beyond the consumers who actually purchase vaccinations The graph on the right shows the market for vaccinations 11 Using the line drawing tool, show a ine representing the true demand for vaccinations, if the external benefit were taken into account Label your line D 2) Using the point drawing tool show the new equibrium price and quantity Label your point E Carefully follow the instructions above, and only draw the required objects Price (5) Qo Quantity of vaccinations (housands)
6:14 1 .ul LTE O I moodle.ku.edu.kw P Flag question S Quantity Refer to the diagram, in which S is the market supply curve and S is a supply curve comprising all costs of production, including external costs. Assume that the number of people affected by these external costs is large. If the government wishes to establish an optimal allocation of resources in this market, it should Select one: O A SUbsidizo producors so that the Price II
Refer to Figure. Which of the following statements is correct? Price 22 24 22 81 18 16 Social cost (private cost and external cost) Supply (private cost) Demand (private value) 120 160 Quantity a. The private cost of producing the 160th unit of output is $16 b. The social cost of producing the 160th unit of output is $22. c. d. The external cost of producing the 160th unit of output is $6. All of the above are correct.
By imposing a tax on the production of electricity equal to the cost of acid rain, the government will cause electric utilities to internalize the externality. As a consequence, the cost of the acid rain will become a OA. social cost borne by the public, and the demand curve for electricity will shift down. OB. social cost borne by the public, and the demand curve for electricity will shift up. C. private cost borne by the utilities, and the supply curve for electricity will shift down. D. private cost borne by the utilities, and the supply curve for electricity will shift up. Question Viewer
The graph shows the unregulated market for electricity. The marginal external cost of the pollution created is equal to the marginal private cost of producing electricity at every quantity of electricity produced. Draw a point to show the marginal social cost when production is 500 kilowatts per day. Label it 1. Draw the marginal social cost curve. Label it MSC. ab Draw a point to show the quantity of electricity produced with no pollution control and the marginal social cost of the electricity generated. Label it 2. Draw a shape to show the deadweight loss with no pollution control. Label it DWL. The deadweight loss created by the pollution is $ >>> Remember that the price given on the y-axis in cents but you must answer in dollars. esc q a @ 2 W S #3 с e d $ 4 65. 1 14 t Oll 6 O & 7 Y 20
What is this graph and what are some issues with it? 20 18 16 - 14 12 - 10 8 - 6 - 4 2- 1960 Year O. Externality graph over time. Issues are that it is in percentage, so does not show how much 'pollution' there is, also does not include taxes which reduce high pollution or benefits which decrease pollution. O U.S. Poverty graph over time. Issues are that it is in percentage, so does not show how 'rich' the richest are, also does not include taxes which increase high income or benefits which decrease poor income. O HHI Index graph over time. Issues are that it is in percentage, so does not show how much monopoly is in dollars, also does not include taxes which reduce monopoly income or benefits which increase monopoly income. OMU.S. Poverty graph over time. Issues are that it is in percentage, so does not show how 'poor' the poorest are, also does not include taxes which reduce high income or benefits which increase poor income. Percentage of People Below the Poverty Line 1965 1970 1975…

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