Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 30, Problem 12QP
To determine
Explain the reason why people do not support for the complete elimination of pollution.
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Describe a positive or negative externality that you have observed in your life. In the example you provide, determine if the externality is positive or negative, explain why, and discuss if you feel like government intervention is present and/or needed. If so, how does (or how could?) the government increase market efficiency?
What are “public goods”? Pick a government good/service that you consume, define what makes it a public good (how is its non-rival and non-excludable). As we discussed in class, the existence of externalities creates an efficiency problem in the provision of these goods and services. Unlike the private sector, State and Local Governments can intervene. Using the example of the public good, you have provided, please provide an example of an externality that will impact its provision, and detail how a government could/should intervene.
which of the following is most likely to generate an externality?
a) taxes that are collected to pay for public schools?
b) a newlywed couply buys a tv for their family room
c) teachers at a local high school have pizza delivered every friday for lunch
can you tell me which is correct? and explain why please. I understand the concept of an externality but for some reason i got this question wrong.
Chapter 30 Solutions
Economics (MindTap Course List)
Ch. 30.1 - Prob. 1STCh. 30.1 - Prob. 2STCh. 30.2 - Prob. 1STCh. 30.2 - Prob. 2STCh. 30.2 - Prob. 3STCh. 30.2 - Prob. 4STCh. 30.3 - Prob. 1STCh. 30.3 - Prob. 2STCh. 30.3 - Prob. 3STCh. 30.4 - Prob. 1ST
Ch. 30.4 - Prob. 2STCh. 30.4 - Prob. 3STCh. 30.5 - Prob. 1STCh. 30.5 - Prob. 2STCh. 30.5 - Prob. 3STCh. 30 - Prob. 1QPCh. 30 - Prob. 2QPCh. 30 - Prob. 3QPCh. 30 - Prob. 4QPCh. 30 - Prob. 5QPCh. 30 - Prob. 6QPCh. 30 - Prob. 7QPCh. 30 - Prob. 8QPCh. 30 - Prob. 9QPCh. 30 - Prob. 10QPCh. 30 - Prob. 11QPCh. 30 - Prob. 12QPCh. 30 - Economists sometimes shock noneconomists by...Ch. 30 - Prob. 14QPCh. 30 - Prob. 15QPCh. 30 - Prob. 1WNGCh. 30 - Prob. 2WNGCh. 30 - Prob. 3WNG
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- What are externalities? How do they create a less than optional level of production in society? Given an example of each type of externality. Compare the different actions a government could take if it wanted to reduce each type of externalities?arrow_forwardExplain the concept of externalities; include an example, as well as how the government takes action to correct it.arrow_forwardWhat do you see as the biggest flaw in using benefit-cost analysis to guide public policy?arrow_forward
- Externalities Do you think that there would be external effects associated with Water from a uranium mine leaking into Kakadu National Park? If so, what would be the nature of the external effects? Can you think of policies that might deal with each external effect (that is, improve social wellbeing)?arrow_forwardWhat are externalities; and how the government can fix itarrow_forwardKnowledge creates positive externality; therefore, governments should intervene in the education sector. What is the intervention action of governments for efficiency to gain from external benefits? Please explain each of these interventions with a clear example for each.arrow_forward
- Show how a tax or subsidy can be used to counteract an externality,and discuss the pros and cons of such a solution.arrow_forwardWhat is an externality? Please give an example of the negative externality. For the flu shot, how does the positive externality shift the marginal benefit curve (the demand curve)? We know that there will be a deadweight loss if consumers purchase the underlying good, which generates positive externality at the market price. Is there a deadweight loss in this case? Why or Why not?arrow_forwardIf the government subsidizes vaccination against influenza to internalize the externality, should it impose the subsidy on consumers or producers of flu vaccines? How large should the subsidy be? How much less per flu vaccine would patients (i.e., consumers) pay? How much more would manufacturers (i.e., producers) of flu vaccines receive?arrow_forward
- Please explain in 75 words or more the following TRUE or FALSE questions. Answers need to be supported with an economic model. If steel production causes a negative externality, then the market generates a price for steel that is too low..arrow_forwardDescribe one function of government in the economy other than correcting externalities. Provide an example.arrow_forwardWhy do externalities cause market failure? What types of government actions or regulations can be used to correct externalities? How do they work? What is an example of a negative externality and discuss how the government can fix it?arrow_forward
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