can someone please answer all these asap? thanks alot
Homework Answers
Ans53) the correct option is c) there is a negative externality
Ans54) the correct option is d) the external cost of the last unit of the good that was produced and purchased.
Ans55) the correct option is a) cost of $ 10
Ans56) the correct option is c) 10 units
Ans57) the correct option is c) 12 units
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can someone please answer all these asap? thanks
alot
O Social Cost in the Market for...
Problem 2: Externality Consider the market for education. The marginal social cost of education (MSC) and...
Problem 2: Externality Consider the market for education. The marginal social cost of education (MSC) and the marginal private benefit of education (MPB) are given by the following equations where Q is the number of units of education provided per year. MSC 10+ Q MPB 100-Q You are also told that each unit of education provides an external benefit to society of $10 per unit. This external benefit is currently not being internalized in the market. a) Given the MSC...
57. The following figure shows the market supply and demand of a good whose production entails...
57. The following figure shows the market supply and demand of a good whose production entails a $2 negative externality per unit. Refer to the figure above. A total of ________ units of this good will be traded in this market, at the price of ________. a. 20; $2 b. 60; $8 c. 40; $4 d. 80; $6 58. The following figure shows the market supply and demand of a good whose production entails a $2 negative externality per unit....
I need help solving this Asap. thanks alot. Figure 1: Supply and Demand in the Market...
I need help solving this Asap. thanks alot.
Figure 1: Supply and Demand in the Market for a Good Price ($/unit) 35 27 Supply 23 19 15 13 11 9 Demand 5 13 17 Quantity (units) 11 12 10 8 6 14. Refer to Figure 1. At the market equilibrium, total consumer surplus is $10 b. $50 а. $100 d. $200 15. Refer to Figure 1. Holding the supply curve fixed, assume demand increased, which caused the equilibrium price to...
Price ($) 100T Social Cost ! Private Cost 50 Quantity Figure 7 23. Refer to Figure 7, which shows a market in which the...
Price ($) 100T Social Cost ! Private Cost 50 Quantity Figure 7 23. Refer to Figure 7, which shows a market in which the production of the good generates a $45 external cost. Which area(s) represent(s) the deadweight loss associated with the competitive market outcome? a) A b) B c) C d) B+C 24. Refer to Figure 7, which shows a market in which the production of the good generates a $45 external cost. Which of the following policies would...
We are considering a market with marginal cost of P=100+2Q and a demand of P=500-2Q. Use...
We are considering a market with marginal cost of P=100+2Q and a demand of P=500-2Q. Use that information to answer the following questions. a. Find the market equilibrium (price and quantity in the market). b. Find producer and consumer surplus. c. Now imagine production of this good created a negative externality of 1$ per unit of output. Find the socially optimal outcome (price and quantity) taking this externality into account. d. Find consumer and producer surplus at the socially efficient...
Figure 10-19 Price Supply $125 $110 $89-... Social value Demand 58 73 94 Quantity Social value...
Figure 10-19 Price Supply $125 $110 $89-... Social value Demand 58 73 94 Quantity Social value Demand 58 73 94 Quantity Refer to Figure 10-19. Each additional unit of the good that is produced yields an external benefit of a. $89. b. $23. c. $36. d. $15.
Figure 10-11 Price 63 Supply (private cost) 42 36 Social value (private value and external benefit)...
Figure 10-11 Price 63 Supply (private cost) 42 36 Social value (private value and external benefit) 24 15 Demand (private value) 0 240 420 Quantity Refer to Figure 10-11. The socially optimal quantity of output is O a. 240 units, since the value to the buyer of the 240th unit is equal to the cost incurred by the seller of the 24oth unit. O b. 240 units, since the value to society of the 240th unit is equal to the...
12. In the market for really good ideas, the private benefits of one really good idea...
12. In the market for really good ideas, the private benefits of one really good idea (from speaker's fees, book sales, etc.) is $1 million, the social benefits of that idea is $1 billion, then: A. The good idea has external benefit, government should use tax to compensate for the externality. B. The good idea has external benefit, government should use subsidy to compensate for the externality. C. The good idea has external cost, government should use tax to compensate...
I. The pollution emitted by a car is an example of atn b. social eextenal e....
I. The pollution emitted by a car is an example of atn b. social eextenal e. publio-good 2. Lila shares a house with two other people. She is a concert pianist and often practices an home. One roommate enjoys listening to her practice, but the other does not. For the roommate who enjoys listening to Lila play, this is an example of for the other , it is an example of a. the tragedy of the commons; b. e. a...
2. Suppose that the private cost of gold per ounce is given by the equation $...
2. Suppose that the private cost of gold per ounce is given by the equation $ - 100 + 20 and Marginal Social Benefit for gold is given by the equation $ = 600-0.50 a. Suppose that each ounce of gold produced is accompanied by an external cost of $100 due to future impacts on a downstream laundry. i. Solve for the socially optimal quantity of gold. ii. Solve for the unregulated market quantity of gold. iii. Produce one fully...
Problem 2: Externality Consider the market for education. The marginal social cost of education (MSC) and the marginal private benefit of education (MPB) are given by the following equations where Q is the number of units of education provided per year. MSC 10+ Q MPB 100-Q You are also told that each unit of education provides an external benefit to society of $10 per unit. This external benefit is currently not being internalized in the market. a) Given the MSC...
I need help solving this Asap. thanks alot.
Figure 1: Supply and Demand in the Market for a Good Price ($/unit) 35 27 Supply 23 19 15 13 11 9 Demand 5 13 17 Quantity (units) 11 12 10 8 6 14. Refer to Figure 1. At the market equilibrium, total consumer surplus is $10 b. $50 а. $100 d. $200 15. Refer to Figure 1. Holding the supply curve fixed, assume demand increased, which caused the equilibrium price to...
Price ($) 100T Social Cost ! Private Cost 50 Quantity Figure 7 23. Refer to Figure 7, which shows a market in which the production of the good generates a $45 external cost. Which area(s) represent(s) the deadweight loss associated with the competitive market outcome? a) A b) B c) C d) B+C 24. Refer to Figure 7, which shows a market in which the production of the good generates a $45 external cost. Which of the following policies would...
Figure 10-19 Price Supply $125 $110 $89-... Social value Demand 58 73 94 Quantity Social value Demand 58 73 94 Quantity Refer to Figure 10-19. Each additional unit of the good that is produced yields an external benefit of a. $89. b. $23. c. $36. d. $15.
Figure 10-11 Price 63 Supply (private cost) 42 36 Social value (private value and external benefit) 24 15 Demand (private value) 0 240 420 Quantity Refer to Figure 10-11. The socially optimal quantity of output is O a. 240 units, since the value to the buyer of the 240th unit is equal to the cost incurred by the seller of the 24oth unit. O b. 240 units, since the value to society of the 240th unit is equal to the...
12. In the market for really good ideas, the private benefits of one really good idea (from speaker's fees, book sales, etc.) is $1 million, the social benefits of that idea is $1 billion, then: A. The good idea has external benefit, government should use tax to compensate for the externality. B. The good idea has external benefit, government should use subsidy to compensate for the externality. C. The good idea has external cost, government should use tax to compensate...
I. The pollution emitted by a car is an example of atn b. social eextenal e. publio-good 2. Lila shares a house with two other people. She is a concert pianist and often practices an home. One roommate enjoys listening to her practice, but the other does not. For the roommate who enjoys listening to Lila play, this is an example of for the other , it is an example of a. the tragedy of the commons; b. e. a...
2. Suppose that the private cost of gold per ounce is given by the equation $ - 100 + 20 and Marginal Social Benefit for gold is given by the equation $ = 600-0.50 a. Suppose that each ounce of gold produced is accompanied by an external cost of $100 due to future impacts on a downstream laundry. i. Solve for the socially optimal quantity of gold. ii. Solve for the unregulated market quantity of gold. iii. Produce one fully...
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