Name a good or service that results in a positive OR negative externality. How does it...
Name a good or service that results in a positive OR negative externality. How does it affect third parties? (Remember, third parties are someone other than the buyer or seller!)
Homework Answers
Externalities are positive or negative effects of consumption or production that are faced by third parties. The market system does not provide any solution to the problem of externalities. The government has to intervene in the market to correct the problem of externalities.
Driving a car is an example of a negative externality, Car emits the pollution that affects the health of passers-by negatively. But such cost is not taken into account by the driver of a car. Thus, here people who are moving are third parties.
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Name a good or service that results in a positive OR negative
externality. How does it...
good with an external benefit (positive externality) is a market ________ because__________.a.bonus // many people are...
good with an external benefit (positive externality) is a market ________ because__________.a.bonus // many people are benefiting other than simply the buyer of the good.b.failure // too many people are buying the good for economic efficiencyc.failure // too few people are buying the good for economic efficiencyd.bonus // free riders increase the value of the good
QUESTION 18 Someone smoking in a crowded room is an example of: a positive production externality. a negative productio...
QUESTION 18 Someone smoking in a crowded room is an example of: a positive production externality. a negative production externality. a negative consumption externality. not an externality. QUESTION 19 The cyclical deficit is the portion of the deficit created by business cycle fluctuations in GDP. that is the result of nondiscretionary federal spending. the result of discretionary federal spending- that would exist if the economy were at potential GDP. QUESTION 20 A subsidy paid to buyers to correct a market...
A government mandate to require the production or consumption of a good or service would be...
A government mandate to require the production or consumption of
a good or service would be a good example of a response to:
A) a positive externality.
B) a negative externality.
C) moral hazard.
D) a public good
Question 2 10 pts After eating three slices of pizza at a party, Sam decides to go for it and Sam eats a fourth slice. This means that Sam thought that the: O total utility for pizza slices are negative marginal utility...
Using a supply-demand diagram, illustrate a: a. negative externality b. Positive externality c. in which of the above would the market, if left alone, produce too much of the good?
Using a supply-demand diagram, illustrate a: a. negative externality b. Positive externality c. in which of the above would the market, if left alone, produce too much of the good?
If one side of the market, either the buyer or seller of a good or service...
If one side of the market, either the buyer or seller of a good or service has better information than the other side, there is moral hazard. asymmetric information. an external cost. a free-rider problem.
Question 16 (1 point) Governments may address a negative externality through command and regulation, which may...
Question 16 (1 point) Governments may address a negative externality through command and regulation, which may increase the cost for a supplier. Question 17 (2 points) externalities are benefits that spill over to third parties Question 18 (2 points) A public good doesn't exclude others using it nor does it require you to compete for its use and benefits. Consequently economist call these characteristics and
Specifically answer this prompt: Have you ever experienced a negative or positive externality? Specifically identify the...
Specifically answer this prompt: Have you ever experienced a negative or positive externality? Specifically identify the "consumers" and the "producers" in the market, and how you were affected by that market. Specifically explain what the positive or negative externality is, and if possible give a dollar value of that positive or negative externality. Use either government regulation or the Coase Theorem in your response and be specific on the type of regulation (e.g. taxes, subsidies, command & control). One example...
Question 2 (1 point) A positive externality results in the market quantity being less than the...
Question 2 (1 point) A positive externality results in the market quantity being less than the socially optimal quantity True False Question 3 (1 point) Which of the following is a pure public good? National Defense Police protection Bottled water Education
18. If a negative externality results from the mowing of lawns, the marginal cost of lawn...
18. If a negative externality results from the mowing of lawns, the marginal cost of lawn mowing as seen by lawn mowing firms: a. does not include the marginal external cost. b. equals the marginal social cost. c. includes the marginal external cost. d. exceeds the marginal social cost. 19. Which of the following is not a negative externality? a. air pollution. b. high oil prices. c. clear-cutting in forests. d. litter. 32. Public goods are provided by the government...
Now consider firms that produce new scientific discoveries (not shirts!) that generate a positive externality because...
Now consider firms that produce new scientific discoveries (not shirts!) that generate a positive externality because other firms can build on their findings. a. Draw supply and demand curves when firms treat future scientific advances as an externality and show how they would change if firms were to instead consider the externality as part of their benefits. b. How does failing to consider the externality affect the equilibrium price and quantity of scientific discoveries, relative to the case where firms...
QUESTION 18 Someone smoking in a crowded room is an example of: a positive production externality. a negative production externality. a negative consumption externality. not an externality. QUESTION 19 The cyclical deficit is the portion of the deficit created by business cycle fluctuations in GDP. that is the result of nondiscretionary federal spending. the result of discretionary federal spending- that would exist if the economy were at potential GDP. QUESTION 20 A subsidy paid to buyers to correct a market...
A government mandate to require the production or consumption of
a good or service would be a good example of a response to:
A) a positive externality.
B) a negative externality.
C) moral hazard.
D) a public good
Question 2 10 pts After eating three slices of pizza at a party, Sam decides to go for it and Sam eats a fourth slice. This means that Sam thought that the: O total utility for pizza slices are negative marginal utility...
If one side of the market, either the buyer or seller of a good or service has better information than the other side, there is moral hazard. asymmetric information. an external cost. a free-rider problem.
Question 16 (1 point) Governments may address a negative externality through command and regulation, which may increase the cost for a supplier. Question 17 (2 points) externalities are benefits that spill over to third parties Question 18 (2 points) A public good doesn't exclude others using it nor does it require you to compete for its use and benefits. Consequently economist call these characteristics and
Question 2 (1 point) A positive externality results in the market quantity being less than the socially optimal quantity True False Question 3 (1 point) Which of the following is a pure public good? National Defense Police protection Bottled water Education
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