Homework Answers
In the enviornmental economics marginal cost is transferred as the additional cost incurred when we adopt we adopt more sophisticated enviornmental protection policies. The marginal benefit is the additional benefit gained from the implementation of these policies.
The efficeint quantity of enviornmental protection is where the marginal cost equals the marginal benefits of pollution. This where the two curves intersect each other, to the left of dotted line the marginal benefit exceeds the marginal cost of pollution so it sensible to implement more enviornmental protection polices and this will further increase the marginal cost. To the right of the dotted line the marginal cost is exceeds the marginal benefit so we are putting too much resources for enviornmental protection which is inefficient.
Ans: This is the effecient quantity of enviornmental economics.
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This graph illustrates the marginal costs and marginal benefits of environmental protect. The dotted line depicts...
The graph below depicts the market for a vaccine with spillover benefits. If the government were...
The graph below depicts the market for a vaccine with spillover benefits. If the government were to provide a subsidy equal to the per-unit spillover benefits, which line best represents the amount that consumers would pay with a voucher? s 50 40 Price 30 . 4 20 Dsocial 10 Q Q Dmarket 1 2 3 4 5 Quantity (in millions) Select the correct answer below: 00 O n
1. Working with Numbers and Graphs Q1 Suppose the marginal costs of reading are constant at...
1. Working with Numbers and Graphs Q1 Suppose the marginal costs of reading are constant at $6 per hour, while the marginal benefits of reading decline (over time) as more reading is performed. In particular, suppose the following table contains the marginal benefit associated with various levels of hours spent reading Time Spent Reading Marginal Benefits (Hours)(Dollars per hour) 10 16 40 Assume the marginal-benefit curve is a straight line through the two points described in the table on the...
II. Assume we're in a system in which marginal costs and benefits follow the figure below...
II. Assume we're in a system in which marginal costs and benefits follow the figure below MC(x) Ş/unit MB(x) Abatement 4) Draw the total cost and total benefit curve that corresponds to the provided graph. Note level x, area MQO and area NOP. 5) Assume the marginal cost and benefits curves can be defined by the equations below. What is the efficient level of abatement, and the emissions tax that would achieve that efficient outcome? MB 4-х MC 3x
4, Uncertain Benefits. Consider the problem of supplying an input to a division of a firm...
4, Uncertain Benefits. Consider the problem of supplying an input to a division of a firm or to a firm in a planned economy. Suppose the executive or planner knows the marginal cost function for the input, represented by the MC line in the figure However, the planner is uncertain about the marginal benefit. Her best estimate is the MB line. On that basis, the price should be p and the quanity q. Consider an error scenario in which the...
Q8 (1 point). The table below describes the total costs and marginal benefits of varying quantities...
Q8 (1 point). The table below describes the total costs and marginal benefits of varying quantities of a non-excludable, non-rival good. Should the government provide the good? O Yes. O No. e TC MB to Sam MB to Jill 0 0 ܢܕ 12 12 14 2 24 8 12 3 36 6 10 4 48 4 8 5 60 2 6 09 (1 point). The table below describes the total costs and marginal benefits of varying quantities of a non-excludable,...
Question 22 On the chart below the environment case for the Jones company can be observed....
Question 22 On the chart below the environment case for the Jones company can be observed. The dotted line demonstrates a broad gap between investment (M) in reducing pollution and the benefit gained (MB) by the investment. What scenario does this illustrate, as it relates to the marginal cost of reducing pollution? MC MB Environmental Protection Extensive Pollution Select the correct answer below: A broad separation between marginal cost and marginal benefit curves indicates that there are ways to reduce...
The graph to the right depicts the average cost curves and the marginal cost curve for...
The graph to the right depicts the average cost curves and the marginal cost curve for a typical firm in a competitive industry. 1.) Using the line drawing fool, draw the firm's demand curve at a market price such that the firm is breaking even. Label your curved, 2.) Using the line drawing tool, draw the firm's demand curve at a market price such that the firm is at its shutdown price. Label your curved, Carefully follow the instructions above,...
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,...
Cost, мо $15 D-MR ATO AVC $5 10 15 22 Quantity The graph above illustrates costs...
Cost, мо $15 D-MR ATO AVC $5 10 15 22 Quantity The graph above illustrates costs and revenues for a firm in a perfectly competitive market. The firm has a horizontal marginal revenue curve, which indicates that the firm O must take the price of $15 as given O must charge a price above $15. must charge a price below $15. must take the price of $9 as given.
The graph below shows the costs and benefits of theft-proofing one's home. The marginal costs increase as more precaution is taken: It's cheap to install good locks but more difficult to inst...
The graph below shows the costs and benefits of theft-proofing one's home. The marginal costs increase as more precaution is taken: It's cheap to install good locks but more difficult to install invisible laser intruder-detection systems. The marginal benefit declines as more precaution is taken: If I am a burglar, adding a guard dog isn't going to provide much deterrence if you already have an electric fence and a lock on each door and window 2 9 MB MC Marginal...
The graph below depicts the market for a vaccine with spillover benefits. If the government were to provide a subsidy equal to the per-unit spillover benefits, which line best represents the amount that consumers would pay with a voucher? s 50 40 Price 30 . 4 20 Dsocial 10 Q Q Dmarket 1 2 3 4 5 Quantity (in millions) Select the correct answer below: 00 O n
1. Working with Numbers and Graphs Q1 Suppose the marginal costs of reading are constant at $6 per hour, while the marginal benefits of reading decline (over time) as more reading is performed. In particular, suppose the following table contains the marginal benefit associated with various levels of hours spent reading Time Spent Reading Marginal Benefits (Hours)(Dollars per hour) 10 16 40 Assume the marginal-benefit curve is a straight line through the two points described in the table on the...
II. Assume we're in a system in which marginal costs and benefits follow the figure below MC(x) Ş/unit MB(x) Abatement 4) Draw the total cost and total benefit curve that corresponds to the provided graph. Note level x, area MQO and area NOP. 5) Assume the marginal cost and benefits curves can be defined by the equations below. What is the efficient level of abatement, and the emissions tax that would achieve that efficient outcome? MB 4-х MC 3x
4, Uncertain Benefits. Consider the problem of supplying an input to a division of a firm or to a firm in a planned economy. Suppose the executive or planner knows the marginal cost function for the input, represented by the MC line in the figure However, the planner is uncertain about the marginal benefit. Her best estimate is the MB line. On that basis, the price should be p and the quanity q. Consider an error scenario in which the...
Q8 (1 point). The table below describes the total costs and marginal benefits of varying quantities of a non-excludable, non-rival good. Should the government provide the good? O Yes. O No. e TC MB to Sam MB to Jill 0 0 ܢܕ 12 12 14 2 24 8 12 3 36 6 10 4 48 4 8 5 60 2 6 09 (1 point). The table below describes the total costs and marginal benefits of varying quantities of a non-excludable,...
Question 22 On the chart below the environment case for the Jones company can be observed. The dotted line demonstrates a broad gap between investment (M) in reducing pollution and the benefit gained (MB) by the investment. What scenario does this illustrate, as it relates to the marginal cost of reducing pollution? MC MB Environmental Protection Extensive Pollution Select the correct answer below: A broad separation between marginal cost and marginal benefit curves indicates that there are ways to reduce...
The graph to the right depicts the average cost curves and the marginal cost curve for a typical firm in a competitive industry. 1.) Using the line drawing fool, draw the firm's demand curve at a market price such that the firm is breaking even. Label your curved, 2.) Using the line drawing tool, draw the firm's demand curve at a market price such that the firm is at its shutdown price. Label your curved, Carefully follow the instructions above,...
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,...
Cost, мо $15 D-MR ATO AVC $5 10 15 22 Quantity The graph above illustrates costs and revenues for a firm in a perfectly competitive market. The firm has a horizontal marginal revenue curve, which indicates that the firm O must take the price of $15 as given O must charge a price above $15. must charge a price below $15. must take the price of $9 as given.
The graph below shows the costs and benefits of theft-proofing one's home. The marginal costs increase as more precaution is taken: It's cheap to install good locks but more difficult to install invisible laser intruder-detection systems. The marginal benefit declines as more precaution is taken: If I am a burglar, adding a guard dog isn't going to provide much deterrence if you already have an electric fence and a lock on each door and window 2 9 MB MC Marginal...
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