Which of the following is NOT associated with externalities? Select one: a. social costs of production...
Which of the following is NOT associated with externalities?
Select one:
a. social costs of production do not equal private costs of production
b. externalities are a type of market failure
c. externalities are inevitable and there is nothing that can be done about them
d. externalities may be positive or negative
Homework Answers
The statement c, states that externalities are inevitable and there is nothing that can be done about them is not associated with externalities. There some methods are available to tackle with the problem of externalities like pigovioun tax.
So, the correct answer is an option (c).
Add Answer to:
Which of the following is NOT associated with externalities?
Select one:
a. social costs of production...
In a typical graph showing negative externalities, which of the following is true? Select one: a....
In a typical graph showing negative externalities, which of the following is true? Select one: a. the supply curve that only includes private costs will be to the left of the supply curve which includes social costs b. the supply curve that only includes private costs will be to the right of the supply curve which includes social costs c. the demand curve that only includes private costs will be to the left of the demand curve which includes social...
In a typical graph showing negative externalities, which of the following is true? Select one: a....
In a typical graph showing negative externalities, which of the following is true? Select one: a. the supply curve that only includes private costs will be to the left of the supply curve which includes social costs b. the supply curve that only includes private costs will be to the right of the supply curve which includes social costs c. the demand curve that only includes private costs will be to the left of the demand curve which includes social...
3. Externalities and second hand smoke a. What externalities are associated with cigarette smokin...
3. Externalities and second hand smoke a. What externalities are associated with cigarette smoking? In particular, i. Are they positive or negative? ii. Are they generated through production or consumption of cigarettes? ii. Provide an example of the monetary social gain or loss from cigarettes? b. Using a supply and demand model of the market for cigarettes, model the effect of externalities i. ii. iii. What is the price and level of consumption in this market, based upon the individual...
To correct for positive externalities, the government should A) do nothing, since no harm is done...
To correct for positive externalities, the government should A) do nothing, since no harm is done by positive externalities B) Levy a tax on the output of the good or service C) pay a subsidy equal to the marginal external benefit D) impose a price ceiling on the good to discourage its production E) impose a price floor on the good at which the marginal private benefit equals the marginal social cost
An environmental economic consulting firm is hired to measure the negative externalities associated with the pollution...
An environmental economic consulting firm is hired to measure the negative externalities associated with the pollution from an industry. The consultants calculate the marginal social cost of production to be MSC 20+30 and the marginal private cost of production to be MPC-Q+30. The market demand curve can be expressed as P 60-Q. production decisions do not take into account the externality) is: The net social benefit at the market equilibrium (i.e. the equilibrium where A. $150 B. $0 C. $225...
a. Explain and describe the magnitude of the optimal production level of an item that has...
a. Explain and describe the magnitude of the optimal production level of an item that has a negative externality (for example: pollution), if the company takes into account social costs. Compare this level of production with the level of production which only takes into account 'private costs' (private cost). b. What policy can be done by the government to reduce the production of goods that have negative externalities and encourage the production of goods that have positive externalities? Explain.
An environmental economic consulting firm is hired to measure the negative externalities associated with the pollution...
An environmental economic consulting firm is hired to measure the negative externalities associated with the pollution from an industry. The consultants calculate the marginal social cost of production to be MSC = 2Q+30 and the marginal private cost of production to be MPC =2Q +30. The market demand curve can be expressed as P=60 - Q . If the consultants have accurately measured the impact of the pollution externality, the net social benefit of producing at the social optimum (rather...
An environmental economic consulting firm is hired to measure the negative externalities associated with the pollution...
An environmental economic consulting firm is hired to measure the negative externalities associated with the pollution from an industry. The consultants calculate the marginal social cost of production to be MSC-2Q+30 and the marginal private cost of production to be MPC-+30. The market demand curve for the industry can be expressed as P- 60-Q. If the industry currently does not take into account the negative externality in its supply decisions, the industry is the social optimum. a) under-producing; 5 b)...
Question 1: For this question, ignore any externalities that might be associated with the production of...
Question 1: For this question, ignore any externalities that might be associated with the production of honey. Graphically indicate the demand (D0) and Supply (S0) and the equilibrium in the market for honey. Show the equilibrium price and quantity, Q0 and P0. Indicate on your graph the areas of consumer surplus and producer surplus. What is the output level the Benevolent Dictator would like to see in this market? Why? Question 2: Now suppose that scientists have discovered that the...
Which one of the following statements about positive externalities is false? A. A positive externality is...
Which one of the following statements about positive externalities is false? A. A positive externality is a positive side effect of an economic transaction that affects those not directly involved in the transaction B. Installing a solar panel produces a positive externality C. Unregulated markets produce too few of the goods and services that have positive externalities. D. Markets with positive externalities do not need government intervention to operate efficiently E. Positive externalities represent an additional benefit to society, over...
3. Externalities and second hand smoke a. What externalities are associated with cigarette smoking? In particular, i. Are they positive or negative? ii. Are they generated through production or consumption of cigarettes? ii. Provide an example of the monetary social gain or loss from cigarettes? b. Using a supply and demand model of the market for cigarettes, model the effect of externalities i. ii. iii. What is the price and level of consumption in this market, based upon the individual...
An environmental economic consulting firm is hired to measure the negative externalities associated with the pollution from an industry. The consultants calculate the marginal social cost of production to be MSC 20+30 and the marginal private cost of production to be MPC-Q+30. The market demand curve can be expressed as P 60-Q. production decisions do not take into account the externality) is: The net social benefit at the market equilibrium (i.e. the equilibrium where A. $150 B. $0 C. $225...
An environmental economic consulting firm is hired to measure the negative externalities associated with the pollution from an industry. The consultants calculate the marginal social cost of production to be MSC-2Q+30 and the marginal private cost of production to be MPC-+30. The market demand curve for the industry can be expressed as P- 60-Q. If the industry currently does not take into account the negative externality in its supply decisions, the industry is the social optimum. a) under-producing; 5 b)...
Most questions answered within 3 hours.
-
Which of the following is correct?
A. APC + MPS = 1
B. APS + MPS...
asked 3 minutes ago -
Given a regression sum of squares equal to 2373.59 and a total
sum of squares equal...
asked 1 hour ago -
Compare and contrast the linear motion and angular motion
equations F ma and . That is,...
asked 50 minutes ago -
Now that this course has taken you on a journey of introduction
to the world of...
asked 1 hour ago -
The sandwich maker of the EE-Cole-Eye Sandwich Truck was just
fired (for a reason described below)...
asked 3 hours ago -
Name the following coordination compounds using systematic
nomenclature.
1. [Co(H2O)6]Cl2:
2. [Cr(NH3)6](NO3)3:
3. K4[Fe(CN)6]:
4. Na[Au(CN)4]:...
asked 3 hours ago -
Propose an efficient synthesis of 2-Bromo-5-nitrotoluene from
benzene. Hint: 3 steps. Consider directing effects of substituents....
asked 5 hours ago -
This assignment will explore the impact of corporate decisions
on a local versus a global perspective....
asked 4 hours ago -
Given the function below, F(w,x,y,z)= x’z+w’z’+w’y
a) draw a logic diagram for an implementation which uses...
asked 4 hours ago -
Most political philosophers believe we have a duty to obey laws,
even if the laws in...
asked 5 hours ago -
Which of the following are common negotiation outcome
mistakes?
a. Leave money on the table b....
asked 5 hours ago -
Convert the following quantities:
a) 0.819 atm to torr b) 512 mmHg to bar c) 11.2...
asked 5 hours ago