14. Refer to Figure 3. Assume that production of this good generates a $30 per unit external cost. How much total surplus is generated in this market at the efficient outcome?
a) $375
b) $675
c) $1,250
d) $2,175
Homework Answers
Therefore, option a. $375 is correct.
Add Answer to:
14. Refer to Figure 3. Assume that production of this good generates a $30 per unit external cost. How much total surpl...
Price (S) 50 Quantity Figure 3 12. Refer to Figure 3. Assume that production of this good generates a $30 per unit exte...
Price (S) 50 Quantity Figure 3 12. Refer to Figure 3. Assume that production of this good generates a $30 per unit external cost. How many of the following regulations would lead to the efficient outcome? • A price ceiling at $30 • A price floor at $60 • A per-unit tax of $30 • A per-unit subsidy of $30 a) 1 b) 2 c) 3 d) 4 13. Refer to Figure 3. Assume that production of this good generates...
Refer to Figure 4. Suppose there is a $30 external benefit associated with the production of...
Refer to Figure 4. Suppose there is a $30 external benefit
associated with the production of this good. How many of the
following policies lead to the efficient outcome?
• A $60
price floor
• A $30
price ceiling
• A $30
tax on consumers
• A $30
subsidy to consumers
a) None of these policies lead to the efficient outcome.
b) 1 of these policies leads to the efficient outcome.
c) 2 of these policies...
Price (s) 10 50 Quantity Figure 6 21. Refer to Figure 6. Suppose that the consumption...
Price (s) 10 50 Quantity Figure 6 21. Refer to Figure 6. Suppose that the consumption of this good generates a $3 external cost. How many units are consumed in equilibrium absent government regulation? a) 30 b) 40 c) 50 d) 60 22. Refer to Figure 6. Suppose that the consumption of this good generates a $3 external cost. How much total surplus is generated from the transaction of the 20th unit? a) $0 b) $1.50 c) $3 d) $4.50
Price ($) 100T Social Cost ! Private Cost 50 Quantity Figure 7 23. Refer to Figure 7, which shows a market in which the...
Price ($) 100T Social Cost ! Private Cost 50 Quantity Figure 7 23. Refer to Figure 7, which shows a market in which the production of the good generates a $45 external cost. Which area(s) represent(s) the deadweight loss associated with the competitive market outcome? a) A b) B c) C d) B+C 24. Refer to Figure 7, which shows a market in which the production of the good generates a $45 external cost. Which of the following policies would...
Refer to Figure 1. Suppose a $3 per-unit tax is imposed on the sellers of this good. How much is the burden of this tax on the buyers in this market
QUESTION #1 Refer to Figure 1. Suppose a $3 per-unit tax is
imposed on the sellers of this good. How much is the burden of this
tax on the buyers in this market? What price will buyers pay for
the good after the tax is imposed? Explain clearly.QUESTION #2 Refer to Figure 1. Suppose a $3 per-unit tax is
imposed on the sellers of this good. How much is the burden of this
tax on the sellers in this market? What is...
A $30 per unit production subsidy would cost how much to taxpayers? $30,000 $24,000 $27,000 $26,500...
A $30 per unit production subsidy would cost how much to
taxpayers?
$30,000
$24,000
$27,000
$26,500
A $30 per unit production tax would generate how much tax
revenue?
$30,000
$24,000
$27,000
$26,500
A $30 per unit subsidy given to the producer would result in what
new market price for consumers?
$20
$10
$40
$30
A $30 per unit tax on the producers would result in what new
market price for consumers?
$60
$50
$70
$55
How much consumer surplus is...
Price (S) 100T 500 Quantity Figure 4 15. Refer to Figure 4. Suppose there is a...
Price (S) 100T 500 Quantity Figure 4 15. Refer to Figure 4. Suppose there is a $30 external benefit associated with the production of this good. What is the most that 3rd parties would be willing to pay to have either side of the market internalize the external benefit (i.e, move from the competitive market outcome to the efficient outcome)? a) $0 b) $6,000 c) $15,000 d) $21,000
Figure 14-8 Suppose a firm operating in a competitive market has the following cost curves: 1. Refer to Figure 14-8...
Figure 14-8 Suppose a firm operating in a competitive market has the following cost curves: 1. Refer to Figure 14-8. Which line segment best reflects the short run supply curve for this firm? a. ABCF b. CD c. DF d. BCD 24. Efficiency in a market is achieved when a. the sum of producer surplus and consumer surplus is maximized. b. a social planner intervenes and sets the quantity of output after evaluating buyers' willingness to pay and sellers' costs....
Refer to the figure entitled "Market for Meds". If a production quota of 20 units is...
Refer to the figure entitled "Market for Meds". If a production quota of 20 units is imposed, what will be the change in consumer surplus? ОООО O Consumer surplus will increase by 22.5. Consumer surplus will decrease by 22.5. Consumer surplus will increase by 25. Consumer surplus will decrease by 25. Market for Meds 10 So Price (in $) 2 Do 0 0 10 20 40 30 Quantity Refer to the figure entitled "Market for Meds". If a production quota...
57. The following figure shows the market supply and demand of a good whose production entails...
57. The following figure shows the market supply and demand of a good whose production entails a $2 negative externality per unit. Refer to the figure above. A total of ________ units of this good will be traded in this market, at the price of ________. a. 20; $2 b. 60; $8 c. 40; $4 d. 80; $6 58. The following figure shows the market supply and demand of a good whose production entails a $2 negative externality per unit....
Price (S) 50 Quantity Figure 3 12. Refer to Figure 3. Assume that production of this good generates a $30 per unit external cost. How many of the following regulations would lead to the efficient outcome? • A price ceiling at $30 • A price floor at $60 • A per-unit tax of $30 • A per-unit subsidy of $30 a) 1 b) 2 c) 3 d) 4 13. Refer to Figure 3. Assume that production of this good generates...
Refer to Figure 4. Suppose there is a $30 external benefit
associated with the production of this good. How many of the
following policies lead to the efficient outcome?
• A $60
price floor
• A $30
price ceiling
• A $30
tax on consumers
• A $30
subsidy to consumers
a) None of these policies lead to the efficient outcome.
b) 1 of these policies leads to the efficient outcome.
c) 2 of these policies...
Price (s) 10 50 Quantity Figure 6 21. Refer to Figure 6. Suppose that the consumption of this good generates a $3 external cost. How many units are consumed in equilibrium absent government regulation? a) 30 b) 40 c) 50 d) 60 22. Refer to Figure 6. Suppose that the consumption of this good generates a $3 external cost. How much total surplus is generated from the transaction of the 20th unit? a) $0 b) $1.50 c) $3 d) $4.50
Price ($) 100T Social Cost ! Private Cost 50 Quantity Figure 7 23. Refer to Figure 7, which shows a market in which the production of the good generates a $45 external cost. Which area(s) represent(s) the deadweight loss associated with the competitive market outcome? a) A b) B c) C d) B+C 24. Refer to Figure 7, which shows a market in which the production of the good generates a $45 external cost. Which of the following policies would...
QUESTION #1 Refer to Figure 1. Suppose a $3 per-unit tax is
imposed on the sellers of this good. How much is the burden of this
tax on the buyers in this market? What price will buyers pay for
the good after the tax is imposed? Explain clearly.QUESTION #2 Refer to Figure 1. Suppose a $3 per-unit tax is
imposed on the sellers of this good. How much is the burden of this
tax on the sellers in this market? What is...
A $30 per unit production subsidy would cost how much to
taxpayers?
$30,000
$24,000
$27,000
$26,500
A $30 per unit production tax would generate how much tax
revenue?
$30,000
$24,000
$27,000
$26,500
A $30 per unit subsidy given to the producer would result in what
new market price for consumers?
$20
$10
$40
$30
A $30 per unit tax on the producers would result in what new
market price for consumers?
$60
$50
$70
$55
How much consumer surplus is...
Price (S) 100T 500 Quantity Figure 4 15. Refer to Figure 4. Suppose there is a $30 external benefit associated with the production of this good. What is the most that 3rd parties would be willing to pay to have either side of the market internalize the external benefit (i.e, move from the competitive market outcome to the efficient outcome)? a) $0 b) $6,000 c) $15,000 d) $21,000
Figure 14-8 Suppose a firm operating in a competitive market has the following cost curves: 1. Refer to Figure 14-8. Which line segment best reflects the short run supply curve for this firm? a. ABCF b. CD c. DF d. BCD 24. Efficiency in a market is achieved when a. the sum of producer surplus and consumer surplus is maximized. b. a social planner intervenes and sets the quantity of output after evaluating buyers' willingness to pay and sellers' costs....
Refer to the figure entitled "Market for Meds". If a production quota of 20 units is imposed, what will be the change in consumer surplus? ОООО O Consumer surplus will increase by 22.5. Consumer surplus will decrease by 22.5. Consumer surplus will increase by 25. Consumer surplus will decrease by 25. Market for Meds 10 So Price (in $) 2 Do 0 0 10 20 40 30 Quantity Refer to the figure entitled "Market for Meds". If a production quota...
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