If an activity generates external costs, the decision makers generating the activity will: A be faced with its full costs. B be faced with no costs. C not be faced with its full costs. D be faced with excessive costs.
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- A cost not borne by the producer but borne by other people is known as cost. an external an internal |a subsidized a marginal a nonessentialwarten population manghe ecosystem's Carrying capacity? 6. We have the following data for Demand Price and Costs for our product. Quantity Demand Price Costs 300 100 $21.63 $35.35 $5040.00 $2347.67 500 $17.25 $7481.67 1000 $12.70 $12469.67 1500 $10.26 $16196.00 We have reason to believe that the Demand Price is a power (exponential) function of some kind. Our Cost function is close to linear, but we expect, from some market analysis, that it is in fact quadratic. Approximate this data with a Demand Price function and a Cost function. Explain how confident you are; that is, how much error do you think is reasonable in this type of scenario? 区Innodiff, a technology company introduce an innovation in bioengineering on which they are granted a patent.Select one:a. The patent should protect Innodiff’s economic rentindefinitelyb. Without patents no firm would innovatec. During the period of the patent a public good becomes aprivate goodd. Innodiff should waive the patent since the innovation is apublic good Please tell me which of these is correct from these multiple choice awnsers
- n order to create more jobs in the region, the local government gave permission to a foreign investor to build a chemical plant not far from a residential area. Analysts predict that real estate prices will drop by 15%15%. Currently, the total value of real estate is $40$40 million.Calculate the potential external cost for the residents in this area of building the chemical plant. Write the exact answer. Do not round.show step by step for this problemThis is not an assignment question. Read the question carefully and give me right answes. Don't copy from Google. How are the economic theory, political incentives, and public interest theory of regulation influence the construction of environmental regulations?
- Consider a competitive equilibrium with positive production externalities. In this econ- omy output will, (a) be equal to its Pareto optimal value. (b) exceed its Pareto optimal value. (c) be below its Pareto optimal value. (d) be where MRS.c = M RTL.c.Complete the second column of the following table by indicating who buys and sells permits in this case. Complete the fourth column of the table with the number of permits each firm ends up with after trading with the others. Next, subtract the number of permits from the initial pollution level to determine how many units of pollution reduction each firm has to complete, and enter these values into the fifth column of the table. Next, determine the total cost of reducing the pollution levels you determined in the previous column, and enter that into the final column of the table. Finally, add up the total pollution reduction costs for each firm and enter the total amount in the final cell of the total row in the following table. Firm A B C Total Buys or Sells Initial Pollution Level 30 45 60 If permits could not be traded, firm A would have to remove units of pollution at a total cost of $ The overall cost of reducing pollution in this case is $ " Permits after Trade Remaining…The following companies all manufacture widgets and dump tons of glop into the air. Current contribution to overall pollution Manufacturer Polluters-r-us Smog brothers inc Costs to clean up 1 ton of glop $70 $100 $30 200 200 200 Really dirty industries The government wants to halve total pollution but does not know how much it will cost each company. Determine the total cost of the cleanup if the government employs a tradable permit scheme in which it gives the same amount of permits to each manufacturer at no cost.
- DRAW THE DWL DUE TO UNDER PRODUCTION AND EXPLAIN IT-*F5 % 5 F6 Price 116 500 F7 450+ 400+ 350+ 300 250 200 150+ 100- Refer to Figure 10-8 This market is charácterized by a negative externality. Oa. True Ob. False 50 7 F8 * CO Social Cost 50 100 150.200 250 300 350 400 450 500 Quantity 8 Supply (Private Costs) F9 Demand F10 # - F11 ССС F12Externalities Quantity 0 5 10 15 20 25 30 Private Marginal Cost (PMC) 25 35 40 50 120 External Cost 30 70 75 100 Social Marginal Cost (SMC) 90 85 105 140 170 Page 1 e
