Homework Answers
Quantity of pulp and paper if no one owns the river is 30 tons a week.
Dead weight loss (DWL) of the production is
DWL = Area of shaded triangle
DWL = (1/2)*(180 -60)*(30 -15) = $ 900
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9. Suppose that a wood pulp mill is situated on the bank of a river. The...
9. Suppose that a wood pulp mill is situated on the bank of a river. The private marginal cost (MC) of producing wood pulp is given by the function MC 10+0.5Y where Y is tons of wood pulp produced. In addition to this private marginal cost, an external cost is incurred. Each ton of wood pulp produces pollutant flows into the river which cause damage valued at S 10. The marginal benefit(MB) to society of each ton of produced pulp...
9. Suppose that a wood pulp mill is situated on the bank of a river. The...
9. Suppose that a wood pulp mill is situated on the bank of a river. The private marginal cost (MC) of producing wood pulp is given by the function MC-10+0.5Y where Y is tons of wood pulp produced. In addition to this private marginal cost, an external cost is incurred. Each ton of wood pulp produces pollutant flows into the river which cause damage valued at S 10. The marginal benefit(MB) to society of each ton of produced pulp is...
The graph illustrates the unregulated market for pesticide. Price (dollars per ton) 720- When the factories produce pesticide, they also create waste, which they dump into a lake on the outskirts of a small town. 640- 560- The marginal external cost of the dumped waste is equal to twice the marginal private cost. So the marginal social cost of producing pesticide is three times the marginal private cost. 480 400- If the residents of the town own the lake, how...
PRICE (Dollars per ton of paper) Consider the market for paper. Suppose that a paper factory dumps toxic waste into a nearby river, creating a negative externality for those living downstream from the factory. Producing an additional ton of paper imposes a constant external cost of $450 per ton. The following graph shows the demand (private value) curve and the supply (private cost) curve for paper. Use the purple points (diamond symbol) to plot the social cost curve when the...
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Suppose the figure to the right illustrates the market for toilet paper, where S, represents the marginal private cost of production and D, represents the marginal private benefit from consumption Companies that produce toilet paper bleach the paper to make it white. Some paper plants discharge the bleach into rivers and Lakes, causing substantial environmental damage. Assume that Sy represents the marginal social cost of producing toilet paper incorporating the externality). What could the government de to internalize the externality?...
Suppose the figure to the right illustrates the market for toilet paper, where S, represents the marginal private cost of production and D, represents the marginal private benefit from consumption Companies that produce toilet paper bleach the paper to make it white. Some paper plants discharge the bleach into rivers and Lakes, causing substantial environmental damage. Assume that Sy represents the marginal social cost of producing toilet paper incorporating the externality). What could the government de to internalize the externality?...
Consider the market for paper. Suppose that a paper factory dumps toxic waste into a nearby river, creating a negative externality for those living downstream from the factory. Producing an additional ton of paper imposes a constant external cost of $220 per ton. The following graph shows the demand (private value) curve and the supply (private cost) curve for paper. Use the purple points (diamond symbol) to plot the social cost curve when the external cost is $220 per ton....
3. The effect of negative externalities on the optimal quantityof consumption Consider the market for paper. Suppose that a paper factory dumps toxic waste into a nearby river, creating a negative externality for those living downstream from the factory. Producing an additional ton of paper imposes a constant external cost of $140 per ton. The following graph shows the demand (private value) curve and the supply (private cost) curve for paper. Use the purple points (diamond symbol) to plot the...
9. Suppose that a wood pulp mill is situated on the bank of a river. The private marginal cost (MC) of producing wood pulp is given by the function MC 10+0.5Y where Y is tons of wood pulp produced. In addition to this private marginal cost, an external cost is incurred. Each ton of wood pulp produces pollutant flows into the river which cause damage valued at S 10. The marginal benefit(MB) to society of each ton of produced pulp...
9. Suppose that a wood pulp mill is situated on the bank of a river. The private marginal cost (MC) of producing wood pulp is given by the function MC 10+0.5Y where Y is tons of wood pulp produced. In addition to this private marginal cost, an external cost is incurred. Each ton of wood pulp produces pollutant flows into the river which cause damage valued at S 10. The marginal benefit(MB) to society of each ton of produced pulp...
9. Suppose that a wood pulp mill is situated on the bank of a river. The private marginal cost (MC) of producing wood pulp is given by the function MC-10+0.5Y where Y is tons of wood pulp produced. In addition to this private marginal cost, an external cost is incurred. Each ton of wood pulp produces pollutant flows into the river which cause damage valued at S 10. The marginal benefit(MB) to society of each ton of produced pulp is...
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