Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN: 9781305971493
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 11.1, Problem 1QQ
To determine
Common resources and public goods.
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Typed plz and asap thanks and please don't use any AI not for the solution
Using a diagram, explain how a carbon tax could help reduce pollution.
QUESTION 6
Marco runs an organic cafe in the middle of an industrial office zone. He has a lot of customers with only 6 allocated car parking spaces for them. Often, his customers use the car parks designated for clients
at Eloise's architectural studio nearby.
1. Marco's cafe does not produce any negative externalities.
2. Marco's cafe creates a negative externality for Eloise's architectural studio.
3. To be socially efficient, Marco needs to pay for more car spaces near his cafe.
Which of the above statements are true:
O Only 1 is true.
O Only 2 is true.
O Both 1 and 2 are true.
O Both 2 and 3 are true.
O All three are true.
O O O
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Principles of Microeconomics (MindTap Course List)
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- Wireless, high-speed Internet is provided for free inthe airport of the city of Communityville.a. At first, only a few people use the service.What type of a good is this and why?b. Eventually, as more people find out aboutthe service and start using it, the speed of theconnection begins to fall. Now what type of agood is the wireless Internet service?c. What problem might result and why? What is onepossible way to correct this problem?arrow_forwardWhat is the concept of an ecological dish and give an examplearrow_forwardDiscuss two ideas on how environmental challenges can create business opportunities use your words Use the editor to format your answerarrow_forward
- Use a graph to explain the benefits a farmer will experience if pollution of a nearby industry decreases.arrow_forwardWhich of the following are public goods? Explain using thedefinition of a public good.a. an antimissile system surrounding Washington, D.C.b. a fire departmentc. tennis courtsd. Yellowstone National Parke. elementary schoolsarrow_forwardHow does school shooting affect Social Economic ? please helparrow_forward
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- A mosquito control program in a city is a A. private good B. club good C. common pool resource good D. public goodarrow_forward1. What is market failure? Explain in your own words. 2. Why do markets fail. List two reasons and explain them in your own words. 3. Explain what an external effect (also known as an externality) is in your own words. 4. List four examples of externalities 5. Explain what a social dilemma is and list one example of a current social dilemma.arrow_forwardRefer to Figure. The graph represents a market in which 24 22 22 Price 18 16 81 Social cost (private cost and external cost) Supply (private cost) Demand (private valne) 120 160 Quantity a. Othere is no externality. b. Othere is a positive externality. c. Othere is a negative externality. d. The answer cannot be determined from inspection of the graph.arrow_forward
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