These are examples of externalities, 8. EXCEPT A) air pollution from coal power plants B) air pollution from smokers C) traffic jam because of vehicles D) None of the above
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- When externalities cause markets to be inefficient (x) government action is sometimes needed to solve the problem. (y) private solutions can be developed to solve the problem. (z) there is a way to eliminate the problem of externalities in the market if producers are provided with the appropriate incentives to internalize the externality. Select one or more: a. (x), (y) and (z) b. (x) and (y) only c. (x) and (z) only d. (y) and (z) only e. (z) onlyThe following are examples of externalities except A Air pollution from the factory (B) Noise pollution from construction Low production Pandemic1. regulations to limit air pollution (a) identify the market failure
- Using deforestation as an example explain negative externalitiesQUESTION 18 Which of the following are potential efficient solutions to a pollution negative externality? Private bargaining ✓Lawsuits Pigovian taxes Social Media Campaigns Pigovian subsidies Cap and TradeUse the graph attached What is the dead weight loss that results from this externality. a) QE - Q* b) Pc- PE c) Pc- Pp d) (Pc-Pp) * QE e) (Pc-Pp) * (QE-Q*) x ½
- Which of the following is an example of an externality? (x) cigarette smoke that permeates an entire restaurant (y) a flu shot that prevents a student from transmitting the virus to her roommate (z) a beautiful flower garden outside of the local post office Select one or more: a. (x), (y) and (z) b. (x) and (y) only c. (x) and (z) only d. (y) and (z) only e. (y) onlyDescribe 5 five negative externalities arising from the consumption and disposal of plastic bottles3. The effect of negative externalities on the optimal quantityof consumption Consider the market for steel. Suppose that a steel manufacturing plant dumps toxic waste into' a nearby river, creating a negative externality for those living downstream from the plant. Producing an additional ton of steel imposes a constant external cost of $385 per ton. The following graph shows the demand (private value) curve and the supply (private cost) curve for steel. Use the purple points (diamond symbol) to plot the social cost curve when the external cost is $385 per ton. 1100 990 Social Cost 880 770 Supply (Private Cost) 660 550 440 330 220 Demand 110 (Private Value) 1 2 14 6. 7 QUANTITY (Tons of steel). PRICE (Dollars per ton of steel)
- Explanation it correctly Q)Is nutella positive externalities or negative?Individuals go for flu injection not only protect themselves against flu but also help to prevent the disease from spreading in the community. (a) What type of externality occurs in the flu injection market? (b) Is the market outcome efficient? (c) What can the government do to rectify the externality issue?PRICE (Dollars perton) 90 81 72 63 54 45 30 27 18 9 0 0 + I 40 60 80 100 120 140 160 180 200 QUANTITY (Millions of tons) 20 40 Demand Graph Input Tool Daily Demand for Pollution Rights Price (Dollars per ton) Quantity Demanded (Millions of tons) 9 180 Suppose the government has determined that the socially optimal quantity of chemical pollution is 140 million tons per day. Corrective taxes Tradable permits One way governments can charge firms for pollution rights is by imposing a per-unit tax on emissions. A tax (or price in this case) of S of chemicals emitted will achieve the desired level of pollution. (?) Now suppose the U.S. government does not know the demand curve for pollution and, therefore, cannot determine the optimal tax to achieve the desired level of pollution. Instead, it auctions off tradable pollution permits. Each permit entitles its owner to emit one ton of chemicals per day. To achieve the socially optimal quantity of pollution, the government auctions off 140…
