xplain why. 2. In a small town, a paper mill discharges wastewater to the river, causing water pollution. Suppose MD- 3E and MA - 40 - 2E. Calculate the following and illustrate your answers with graphing: a) What is the socially efficient level of emission? What is the total social cost related to this level of emission? b) Consider a liability law requiring the polluter to compensate for all the damages caused. What is the poluter's optim choice of emission level? What is the total compliance cost at this level? c) Consider an emission standard set at the efficient level. What is the polluter's total compliance cost at this level? d) Consider an emission tax policy. What is the optimal tax rate to achieve the efficient emission level? What is the polluter's total compliance cost at this level? e) Consider an abatement subsidy policy. What is the ontimal

xplain why. 2. In a small town, a paper mill discharges wastewater to the river, causing water pollution. Suppose MD- 3E and MA - 40 - 2E. Calculate the following and illustrate your answers with graphing: a) What is the socially efficient level of emission? What is the total social cost related to this level of emission? b) Consider a liability law requiring the polluter to compensate for all the damages caused. What is the poluter's optim choice of emission level? What is the total compliance cost at this level? c) Consider an emission standard set at the efficient level. What is the polluter's total compliance cost at this level? d) Consider an emission tax policy. What is the optimal tax rate to achieve the efficient emission level? What is the polluter's total compliance cost at this level? e) Consider an abatement subsidy policy. What is the ontimal

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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9. Y=a+BX+ ei. Solve for a and B
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Consider a class with 80 enrolled students. None of the students were ill at the beginning of the school year. On August 30th, 10 students reported having a common cold. All continued to be ill on September 1st, but all 10 recovered within 3 days. On September 15th, 5 more students had a cold. All of these students continued to be ill on September 16th, but all recovered 5 days later. In this example, assume that a person cannot have a cold more than once.calculate the cumulative incidence of the common cold in the class during the month of september
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2. (40 points) In their 1999 Applied Economics Letters paper, Zakir and Wunnava proposed the following specification in identifying the factors affecting infant mortality rates (IMR): IMR₁ = B₁+ B₁FERTILITY, + ß₂LNGNP; +ß¸LABOUR; + ßLABOUR² + B₂LITERACY, + BHEALTH; +ε₁ Where i=1,2,..., 117 (i.e., based on a cross-section of 117 countries) IMR = infant mortality rate-number of deaths before age 1 per 1000 live births FERTILITY = number of births per woman LNGNP = the natural logarithm of per capita GNP (note that GNP is measured in '000 of $s) LABOUR = percentage of women in the labor force LITERACY = female literacy rate HEALTH = expenditure on health care as percentage of GNP Following are their estimated regression results along with sample means (based on a cross-section of industrialized and third world countries for 1993). Mean of IMR: 44.983 Variable name Estimated t-ratio Mean coefficient FERTILITY 10.812 7.848 3.5556 LNGNP -6.998 -3.134 8.2585 LABOUR 4.135 3.359 40.051 LABOUR²…
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10.61 The per-store daily customer count (i.e., the mean number of customers in a store in one day) for a nationwide convenience store chain that operates nearly 10,000 stores has been steady, at 900, for some time. To increase the customer count, the chain is considering cutting prices for coffee beverages. The question to be determined is how much to cut prices to increase the daily customer count without reducing the gross margin on coffee sales too much. You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be $0.59, in 6 stores the price of a small coffee will now be $0.69, in 6 stores, the price of a small coffee will now be $0.79, and in 6 stores, the price of a small coffee will now be $0.89. After four weeks of selling the coffee at the new price, the daily customer count in the stores was recorded and stored in . At the 0.05…
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Find the price and income elasticity of demand for the following demand functions at the given point on demand.