A cellphone costs $40 in China. The cost of emissions during cellphone production in China is...
A cellphone costs $40 in China. The cost of emissions during cellphone production in China is $3 per phone. Experts say that using a cellphone causes health problems to surrounding people, and these damages are worth $10.
1. Draw a graph that illustrates the negative externalities associated with cellphone use in China. Label the social marginal cost (SMC), social marginal benefit (SMB), private marginal cost (PMC), and private marginal benefit (PMB).
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A cellphone costs $40 in China. The cost of emissions during
cellphone production in China is...
P (S) 50 45 40 35 25 20 15 10 o 20 30 40 50 60...
P (S) 50 45 40 35 25 20 15 10 o 20 30 40 50 60 70 80 90 100 110 120 130 140 15o -5 -10 Suppose that there are 5 people with identical preferences around a pure public good. For each individual (i e (1,2,3, 4, 5)) the Private Marginal Benefit (PMB.) from a pure public good is given by PMB, 10-0.1G, where G is the quantity of the pure public good. 1. Draw the Private Marginal Benefit...
P (S) 50 45 40 35 30 25 20 15 o 20 30 40 50 60...
P (S) 50 45 40 35 30 25 20 15 o 20 30 40 50 60 70 80 90 100 110 120 130 140 150 -5 -10 Suppose that there are 5 people with identical preferences around a pure public good. For each individual (i e {1, 2, 3, 4, 5]) the Private Marginal Benefit (PMB,) from a pure public good is given by PMB, 10-0.1G, where G is the quantity of the pure public good. 1. Draw the Private...
Now suppose that the economist on the faculty at SCU determines that there is a production...
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P (S) 50 45 40 35 25 20 15 10 o 20 30 40 50 60 70 80 90 100 110 120 130 140 15o -5 -10 Suppose that there are 5 people with identical preferences around a pure public good. For each individual (i e (1,2,3, 4, 5)) the Private Marginal Benefit (PMB.) from a pure public good is given by PMB, 10-0.1G, where G is the quantity of the pure public good. 1. Draw the Private Marginal Benefit...
P (S) 50 45 40 35 30 25 20 15 o 20 30 40 50 60 70 80 90 100 110 120 130 140 150 -5 -10 Suppose that there are 5 people with identical preferences around a pure public good. For each individual (i e {1, 2, 3, 4, 5]) the Private Marginal Benefit (PMB,) from a pure public good is given by PMB, 10-0.1G, where G is the quantity of the pure public good. 1. Draw the Private...
Now suppose that the economist on the faculty at SCU determines that there is a production externality associated with this good, such that, the social supply curve (SMC) is represented by the following equation: Qs Social = 200*P. Note, the other curves are still represented by the following 3 equations: Qs Private = 100*P, Q Private = 1,000-100*P, and Q, Social = 2,000-200*P. Again, assume no government or any additional market failures. Please draw a supply and demand diagram with...
cost of cleanup is constant at $120 per unit. What is the optimal level of pollution cleanup in each of the two regions? 12. The private marginal benefit associated with a product's consumption is PMB = 350 – 4Q and the private marginal cost associated with its production is PMC = 6Q. Furthermore, the marginal external damage associated with this good's production is MD = 4Q. To correct the externality, the government decides to impose a tax of T per...
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