Which of the following is an example of a command and control policy to address an externality? O Requiring car manufacturers place a catalytic converter on cars to reduce engine emissions A subsidy for beekeepers to encourage pollination A tax on cigarettes to reduce second hand tobacco smoke A tax on gasoline to reduce engine emissions

Which of the following is an example of a command and control policy to address an externality? O Requiring car manufacturers place a catalytic converter on cars to reduce engine emissions A subsidy for beekeepers to encourage pollination A tax on cigarettes to reduce second hand tobacco smoke A tax on gasoline to reduce engine emissions

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 local school administrator observes an increase in the number of flu cases in the public schools over the last two years. She is concerned that some families cannot afford flu vaccine and are therefore not having children vaccinated. She is also concerned that the failure to vaccinate some children is putting other children at risk, so she proposes that the state subsidize vaccines to increase coverage rates. a. Determine whether the failure to vaccinate some children is an external benefit or an external cost. If an external cost is present, move point A and point B to show the marginal social cost curve. If an external benefit is present, move point A and point B to show the marginal social benefit curve. Place point C at the equilibrium outcome. Place point D at the socially optimal outcome. Flu vaccines A B D Supply (marginal private cost) Price
Which of the following is an example of a positive externality? O A college student buys a new car when she graduates. O The mayor of a small town plants flowers in the city park. O Local high school teachers have pizza delivered every Friday for lunch. O An avid fisherman buys new fishing gear for his next fishing trip
Define the concept of a negative externality and explain the nature of the negative externality in the fishing markets i.e. describe how the self-interested actions of a fishing company might adversely affect third parties without their consent.
The following graph represents the market for high-emissions cars. Answer this question assuming that the externality is not internalised. Which quantity is socially optimal (i.e. what is the efficient quantity)? What is the deadweight loss generated by the externality?
Address the question in the image.
11. Compared to a good with no externalities, a good with a negative externality will appear to have experienced a OIncrease in Supply ODecrease in Supply Olncrease in Demand ODecrease in Demand at each corresponding price...
what is an externality? give an example of a postiive externality and an example of negative externality
An effluent fee O is a reward to companies using production methods that create positive externalities. O is also called a pollution subsidy. O gives a firm the right to pollute if it pays a tax on what it discharges. O is intended influence the market by increasing supply and decreasing price.
Is capacity in a wireless network a real or pecuniary externality?
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What is the externality in the market for alcohol? Draw a market diagram for alcoholic beverages, including private and social cost curves and private and social value curves. Identify the market equilibrium quantity, the socially optimal quantity, and thedeadweight loss associated with the externality. What policies do governments use to try to eliminate the externality associated with drinking DRAW PICTURE PLUS STEP BY STEP HOW TO DRAW IT Draw a market diagram for alcoholic beverages, including private and social cost curves and private and social value curves Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Which statement about externalities is wrong? O Markets are typically not efficient in dealing with externalities O Externalities can be positive or negative O A firm naturally takes into account negative externalities that result from their production O Interventions such as carbon taxes can help correct externalities gative externalities imply that the social cost is high than the internal (or private) cost