Homework Answers
Ans: The optimal quantity of pollution: 6 metric tons of pollution (this is because at this point, the MSB = MSC, this is the equilibrium or optimal condition).
The optimal quantity of pollution is not zero because:
At zero level, the MSB > MSC. (We can see the graph, at zero level, MSC = $100 whereas, MSB = $1,000)
Add Answer to:
The accopmanying graph depicts the marginal social cost (MSC) and marginal social benefit (MSB) of pollution...
Use Table Below: Coal Mine Pollution. The table shows the marginal social benefit and cost of...
Use Table Below: Coal Mine Pollution. The table shows the
marginal social benefit and cost of various amounts of pollution
from a coal mine. If 5 tons of pollution is produced, the marginal
social benefit is _____, and the marginal social cost is
_____.
$400; $400
$300; $500
$0; $800
$800; $0
Table: Coal Mine Pollution Quantity of Marginal Marginal Pollution Social Social (tons) Benefit Cost $800 $0 700 100 600 200 500 300 400 500 200 600 700 0...
Table: Coal Mine Pollution Quantity of Pollution (tons) Marginal Social Benefit Marginal Social Cost 0 $800...
Table: Coal Mine Pollution Quantity of Pollution (tons) Marginal Social Benefit Marginal Social Cost 0 $800 $0 1 $700 $100 2 $600 $200 3 $500 $300 4 $400 $400 5 $300 $500 6 $200 $600 7 $100 $700 8 $0 $800 Reference: Ref 16-2 Table: Coal Mine Pollution (Table: Coal Mine Pollution) Use Table: Coal Mine Pollution. The table shows the marginal social benefit and cost of various amounts of pollution from a coal mine. If 2 tons of pollution...
Q4 (1 point). The figure below shows the marginal social benefit, marginal private cost and marginal...
Q4 (1 point). The figure below shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. If the market is competitive and unregulated, how much steel will be produced? oo tons O 2 tons О 4 tons O 8 tons 250 MSC 6200 S = MC Price and cost (dollars per ton of steel) 150 100 50 o 2 D- MSB 6 8 10 Quantity (tons of steel per week) Activate Windows Go to Settings...
On the graph, move the point, P, to the point representing the optimal level of education. MSC Dollars (thousands) MSB...
On the graph, move the point, P, to the point representing the optimal level of education. MSC Dollars (thousands) MSB 0 2 4 6 14 16 18 20 22 8 10 12 Years of schooling What is the socially optimal number of years of schooling for each citizen? optimal schooling: years Assuming that the marginal social benefits of education are completely externalized from the educated individual, how large would a Pigouvian subsidy need to be in order to reach this...
Marginal Cost Marginal Benefit and Marginal Cost (Dollars) 00:42:18 Marginal Benefit Quantity of Shoes Refer to...
Marginal Cost Marginal Benefit and Marginal Cost (Dollars) 00:42:18 Marginal Benefit Quantity of Shoes Refer to the diagram for athletic shoes. The optimal output of shoes is Multiple Choice Is where marginal cost equals marginal benefit O is where marginal beneft exceeds marginal costs 0 0
Figure: City with Two Polluters Marginal benefit to individual producer $1,100 1,000MB 900 800 700 600...
Figure: City with Two Polluters Marginal benefit to individual producer $1,100 1,000MB 900 800 700 600 500 MB 400 300 200 100 1,000 1,400 1,800 2,200 Quantity of pollution emissions (tons) 200 600 5. (Figure: City with Two Polluters) Look at the figure City with Two Polluters. If the govermment imposed an emissions tax of $400, firm A would produce produce A) 200; 400 B) 400; 1,200 C) 800; 1,400 D) 1,200; 1,600 , tons of emissions and firm B...
o Marginal benefitmarginal cost dollars per person) MSC 120 The graph shows the marginal social benefit...
o Marginal benefitmarginal cost dollars per person) MSC 120 The graph shows the marginal social benefit and marginal social cost of a waste disposal system in a city of 1 million people M voters are well informed about the costs and benefits of the waste disposal system, what capacity will they choose in a referendum? voters are well informed they will choose a capacity of million gallons a day >>> Answer to 1 decimal place If voters are rationally ignorant,...
e w E R ullo -shite zxc vel 3) This exercise will explore an externality. (40...
e w E R ullo -shite zxc vel 3) This exercise will explore an externality. (40 pts) Passenger vehicles in the City of Berwick emit particulate matter (PM) pollution that has an adverse effect on residents. The local university has determined that the marginal social cost of the PM pollution is: MSC = $20,000* And the marginal social benefit of pollution is: MSB = $510,000 - $30,000*Q Where Q = tons of PM emitted. a) What types of factors might...
QUESTION 51 od Marginal benefit of individual polluter $1,000 900 Firma 800 700 600 Firm 500...
QUESTION 51 od Marginal benefit of individual polluter $1,000 900 Firma 800 700 600 Firm 500 400 300 Firm 200 100 100 200 300 400 500 600 700 800 1.000 Quantity of mercury (tons) The figure above shows three different polluting firms. Let's assume the government imposes a $300 tax on each ton of emission. Based on that, how much pollution will Firm B have? O 200 0 O 500 Oo O 1,000
04. Figure 6.1 shows the chemical emissions from a fertilizer plant and the marginal cost of...
04. Figure 6.1 shows the chemical emissions from a fertilizer plant and the marginal cost of abatement. According to the diagram, what is the cheapest method of pollution abatement? a) Cleaning equipment b) Clean packaging c) Chemical washing d) Reformulate Usually, as the level of pollution increases a) Marginal external cost increases. b) The firm's marginal cost of pollution abatement increases. c) The total external cost decreases. d) All of the above In economics, the optimal quantity pollution means the...
Use Table Below: Coal Mine Pollution. The table shows the
marginal social benefit and cost of various amounts of pollution
from a coal mine. If 5 tons of pollution is produced, the marginal
social benefit is _____, and the marginal social cost is
_____.
$400; $400
$300; $500
$0; $800
$800; $0
Table: Coal Mine Pollution Quantity of Marginal Marginal Pollution Social Social (tons) Benefit Cost $800 $0 700 100 600 200 500 300 400 500 200 600 700 0...
Q4 (1 point). The figure below shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. If the market is competitive and unregulated, how much steel will be produced? oo tons O 2 tons О 4 tons O 8 tons 250 MSC 6200 S = MC Price and cost (dollars per ton of steel) 150 100 50 o 2 D- MSB 6 8 10 Quantity (tons of steel per week) Activate Windows Go to Settings...
On the graph, move the point, P, to the point representing the optimal level of education. MSC Dollars (thousands) MSB 0 2 4 6 14 16 18 20 22 8 10 12 Years of schooling What is the socially optimal number of years of schooling for each citizen? optimal schooling: years Assuming that the marginal social benefits of education are completely externalized from the educated individual, how large would a Pigouvian subsidy need to be in order to reach this...
Marginal Cost Marginal Benefit and Marginal Cost (Dollars) 00:42:18 Marginal Benefit Quantity of Shoes Refer to the diagram for athletic shoes. The optimal output of shoes is Multiple Choice Is where marginal cost equals marginal benefit O is where marginal beneft exceeds marginal costs 0 0
Figure: City with Two Polluters Marginal benefit to individual producer $1,100 1,000MB 900 800 700 600 500 MB 400 300 200 100 1,000 1,400 1,800 2,200 Quantity of pollution emissions (tons) 200 600 5. (Figure: City with Two Polluters) Look at the figure City with Two Polluters. If the govermment imposed an emissions tax of $400, firm A would produce produce A) 200; 400 B) 400; 1,200 C) 800; 1,400 D) 1,200; 1,600 , tons of emissions and firm B...
o Marginal benefitmarginal cost dollars per person) MSC 120 The graph shows the marginal social benefit and marginal social cost of a waste disposal system in a city of 1 million people M voters are well informed about the costs and benefits of the waste disposal system, what capacity will they choose in a referendum? voters are well informed they will choose a capacity of million gallons a day >>> Answer to 1 decimal place If voters are rationally ignorant,...
e w E R ullo -shite zxc vel 3) This exercise will explore an externality. (40 pts) Passenger vehicles in the City of Berwick emit particulate matter (PM) pollution that has an adverse effect on residents. The local university has determined that the marginal social cost of the PM pollution is: MSC = $20,000* And the marginal social benefit of pollution is: MSB = $510,000 - $30,000*Q Where Q = tons of PM emitted. a) What types of factors might...
QUESTION 51 od Marginal benefit of individual polluter $1,000 900 Firma 800 700 600 Firm 500 400 300 Firm 200 100 100 200 300 400 500 600 700 800 1.000 Quantity of mercury (tons) The figure above shows three different polluting firms. Let's assume the government imposes a $300 tax on each ton of emission. Based on that, how much pollution will Firm B have? O 200 0 O 500 Oo O 1,000
04. Figure 6.1 shows the chemical emissions from a fertilizer plant and the marginal cost of abatement. According to the diagram, what is the cheapest method of pollution abatement? a) Cleaning equipment b) Clean packaging c) Chemical washing d) Reformulate Usually, as the level of pollution increases a) Marginal external cost increases. b) The firm's marginal cost of pollution abatement increases. c) The total external cost decreases. d) All of the above In economics, the optimal quantity pollution means the...
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