Homework Answers
| True | False |
|---|---|
|
|
1. When the production of a good results in pollution then the private cost and social costs are different.
2. Social cost is the sum of private and external cost. True.
3. Social cost = Private cost + External cost
Therefore, social cost and external cost are not synonym
4. Yes because pollution increases the social cost therefore social cost and private costs are different.
5. Pollution affects the environment which has a cost on the society. Therefore, pollution is an external cost.
6. Private cost is the firms cost. The public limited firms are obligated to disclose it.
7. Wages is an not an example of external cost.
Please contact if having any query thank you.
Add Answer to:
True False Answer Bank Pollution is an example of an external cost. When the production of...
Market for Laptop Batteries Supply Specialized electronic batteries, such as those for laptops, are hard to dispo...
Market for Laptop Batteries Supply Specialized electronic batteries, such as those for laptops, are hard to dispose of safely, yielding excess pollution when one gets thrown away. Suppose that producing these batteries creates a social cost of $150 per unit. The accompanying diagram depicts the market for these batteries in which these social costs are not internalized. Please adjust the appropriate curves to represent the market if the social costs are internalized. 250 200 150 Demand 0 6.000 7.000 8,000...
QUESTION 17 Suppose a firm produces pollution when it generates electricity. The cost of the pollution...
QUESTION 17 Suppose a firm produces pollution when it generates electricity. The cost of the pollution is called the private marginal cost. social marginal cost. marginal cost. external marginal cost 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...
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...
19. Which of the following is not a negative externality? a. air pollution. b. high oil...
19. Which of the following is not a negative externality? a. air pollution. b. high oil prices. c. clear-cutting in forests. d. litter. 20. Which of the following types of goods is least likely to be provided by the market? a. a good that is rival in consumption and for which exclusion is possible. b. a good that is nonrival in consumption and for which exclusion is possible. c. a good that is nonrival in consumption and for which exclusion...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers to high-cost domestic producers, wasting resources domestic producers buy more of the good, increasing the gains from trade domestic producers produce more output, increasing the gains from trade deadweight losses are eliminated because foreign producers sell below their product cost QUESTION 20 As a result of tariffs, domestic producers tend to • gain more than domestic consumers lose • spend less money on lobbying...
QUESTION 31 If a good has zero external costs, then social marginal cost is less than...
QUESTION 31 If a good has zero external costs, then social marginal cost is less than marginal private cost. social marginal cost equal private marginal cost. we need more information to determine the relationship between private and social costs. social cost is greater than private marginal cost. QUESTION 32 A fiscal action that is initiated by an act of Congress is called automatic fiscal policy. discretionary fiscal policy. generational fiscal policy the government expenditure multiplier. QUESTION 33 The three main...
1)When consumption of a good is nonrival and nonexcludable, the good is a A. mixed good....
1)When consumption of a good is nonrival and nonexcludable, the good is a A. mixed good. B. private good. C. service. D. public good. 2)An externality can be a A.benefit but not a cost. B.cost but not a benefit. C.cost or a benefit. D.marginal cost but not a total cost 3) An externality occurs when A.the marginal social cost of an activity increases as that activity is increased. B.some of the costs of producing a good are paid by someone...
A transaction cost are all of the following, but cost of finding potential investors (partners) cost...
A transaction cost are all of the following, but cost of finding potential investors (partners) cost of production (the direct costs of producing the good or service) O cost of enforcing an agreement cost of gathering information An example of market failure is O a monopoly producer of a drug who overprices a drug resulting in social costs greater than social gains O a government regulator forcing a producer of a drug to under price a drug which results in...
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...
1. A marginal external cost of a product is equal to A. what the producer has...
1. A marginal external cost of a product is equal to A. what the producer has to pay to hire resources to produce another unit. B. the cost someone other than the producer incurs when another unit is produced. C. what the consumer must pay when he or she buys the good or service. D. the cost the producer incurs to produce another unit. E. None of these answers describes a marginal external cost. 2. The graph shows the benefits...
Market for Laptop Batteries Supply Specialized electronic batteries, such as those for laptops, are hard to dispose of safely, yielding excess pollution when one gets thrown away. Suppose that producing these batteries creates a social cost of $150 per unit. The accompanying diagram depicts the market for these batteries in which these social costs are not internalized. Please adjust the appropriate curves to represent the market if the social costs are internalized. 250 200 150 Demand 0 6.000 7.000 8,000...
QUESTION 17 Suppose a firm produces pollution when it generates electricity. The cost of the pollution is called the private marginal cost. social marginal cost. marginal cost. external marginal cost 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...
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...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers to high-cost domestic producers, wasting resources domestic producers buy more of the good, increasing the gains from trade domestic producers produce more output, increasing the gains from trade deadweight losses are eliminated because foreign producers sell below their product cost QUESTION 20 As a result of tariffs, domestic producers tend to • gain more than domestic consumers lose • spend less money on lobbying...
QUESTION 31 If a good has zero external costs, then social marginal cost is less than marginal private cost. social marginal cost equal private marginal cost. we need more information to determine the relationship between private and social costs. social cost is greater than private marginal cost. QUESTION 32 A fiscal action that is initiated by an act of Congress is called automatic fiscal policy. discretionary fiscal policy. generational fiscal policy the government expenditure multiplier. QUESTION 33 The three main...
A transaction cost are all of the following, but cost of finding potential investors (partners) cost of production (the direct costs of producing the good or service) O cost of enforcing an agreement cost of gathering information An example of market failure is O a monopoly producer of a drug who overprices a drug resulting in social costs greater than social gains O a government regulator forcing a producer of a drug to under price a drug which results in...
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...
Most questions answered within 3 hours.
-
McGlaun Company pays its employees every two weeks. The firm
last paid its employees on September...
asked 6 minutes ago -
You have been gifted a Mogwai as a pet and decide to do a little
online...
asked 11 minutes ago -
given the standard of 200 mg/dl and the absorbance of that
standard is 0.640. What is...
asked 14 minutes ago -
Exercise 8-51 Algo
An accounting professor is notorious for being stingy in giving
out good letter...
asked 22 minutes ago -
month
total distribution cost
level of activity (unit produced)
july
230.000
3500
august
250.000
3750
september...
asked 23 minutes ago -
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 1 hour ago -
Your division head has assigned another important project to you
and your team. This project is...
asked 36 minutes ago -
Under normal use conditions, the Mean Time To Failure of a
heating coil can be modeled...
asked 1 hour ago -
Consider the probability that fewer than 34 out of 116 CDs will
be defective. Assume the...
asked 51 minutes ago -
4J Manufacturing Company uses a job order cost accounting system
and keeps perpetual inventory records. Prepare...
asked 40 minutes ago -
Please write code in C++
using recursive function
Write a program that computes the sequence of...
asked 38 minutes ago -
What is 345 as an unsigned decimal number? It is 34
with subscript of 5. Not...
asked 55 minutes ago