11.01Unanswered •2 attempts leftWhich of the below would probably NOT beclassified as a negative externality?A sawmill produces lumber andApollution.Your neighbour purchases a stereo andВplays loud music every night.You forgot to close a window in yourcar and it rains and damages theCinterior.A forest is destroyed to construct a newDfactory.

option c is the correct answer wich is not classified in negative externality You forgot to close…

Answered: Unanswered • 2 attempts left Which of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Externalities, the Environment and Natural ResourcesOur very existence makes environmental problems inevitable. Environmental problems are not new. First, explain what is different about the attention we now give to these problems relative to an earlier period of time. Next, debate how our behavior, institutions, and evolution contributed to environmental problems.
Identify whether the following schenarios describe positive or negative externalites or neither. A. Negative Externalities B. Neither C. Positive Externalities 1. New city developments and roads bring traffic and pollution to your neighborhood v 2. Your friend earns a college degree, starts a new business and create jobs in your town 3. A hail storm damages your roof RAZER F10
Suppose Hawi lives alone. She has two pet hamsters; she likes the hamsters because they are cute. But cleaning their cage every day is a hassle. In this case, Hawi's hamsters entail: A. an external cost B. a negative externality C. an external benefit D. neither an external cost nor an external benefit
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Externalities O A) can be either benefits or costs. B) always create extra social costs. C) always make society better off. D) are always part of private costs or private benefits. E) cannot be expressed in dollar amounts.
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Concept Question 1.5 E Question Help The graph to the right depicts the U.S. textile industry in competitive equilibrium. The 100- curve MEC shows the marginal external cost of production that is not currently reflected in the market price. 90- 1.) Using the line drawing tool, draw the marginal social cost curve. Label it 'MsC. 80- 70- 2.) Using the point drawing tool, indicate the socially efficient level of output and price. Label it 'E' Carefully follow the instructions above, and only draw the required objects. S=MC 60- 50- 40- 30- 20- MEC 10 0- 50 100 150 200 250 300 36o 400 450 500 Industry Output
Fish that swim in international waters are a common good that are freely available toanyone who wants to catch them, but this leads to the problem of over-fishing. At theheart of this problem lies an externality. Using appropriate diagrams andaccompanying discussion, show both how and why this over-fishing takes place. Inyour explanation, identify the source of the externality.
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a. When a firm imposes an external social cost (negative externality), the government should impose a tax on production equal to the externality cost to ensure that the market will achieve the socially optimal outcome. Select one: True False b. The socially optimal level of emissions of most pollutants is zero. Select one: True False c. Externalities are only inefficient when they impose a cost. They are not inefficient when they bestow a benefit. Select one: True False
Which of the following are examples of negative externalities? A. Reduced spread of COVID-19 and other infectious diseases from people physically distancing and wearing masks. B. Unsightly oil rigs offshore from Santa Barbara, diminishing the quality of the view for beachgoers and coastal homeowners. C. Reduced incidence of the common flu stemming from more people obtaining flu shots during the Fall. D. Reduced crime rates stemming from rapid economic growth and reduced unemployment. E. High gas prices caused by rapid demand growth in China. F. Job losses associated with a factory closure in the United States, because a factory was opened in Mexico to replace it. G. Noise from traffic on a busy street. H. Light pollution from cities making it more difficult for observatories to view distant stars. I. Noise pollution eminating from windmills on the North Shore of Oahu. J. Pollution emissions from power plants.
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