5. The Role of Government: Quota vs. Tax A. Briefly discuss the advantage of quota vs. tax to limit externalities from consuming sugary beverage among school age children (Emphasize microeconomic concepts). B. Briefly explain whether and why you agree or disagree with the results derived from the microeconomic concepts.
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- 3:18 Edit X 50 REE 324 - ENVIRONMENTAL ECONOMICS Review Exercise on Market Equilibrium, Market Failure, Externalities and Elasticities 1. Economics of Education. The issue of education is quite critical. The demand for education by society is high. On the other hand, it is demanded that the schools only charge low tuition fees since schools serve a social function. Thus, more often than not, tuition fee ceilings are imposed to assure students of lower prices for this "commodity". Two common solutions are proposed to address the likely problem of excess demand for educational services (ES) in the event of a tuition fee ceiling is imposition: (i) operation of public schools (e.g., free public high school); (ii) government subsidy to private education. where: Find the solutions to the problems below: D=demand for educational services S = supply of educational services Suppose we let: S: TF or P = 1 + 0.5 Q D: TF or P = 15-2Q TF or P = tuition fee or price of education ('000 pesos)…In what sense do positive externalities cause the so-called "invisible hand" of the marketplace to "fail"? Select one: a. Such externalities lead to government intervention in markets, which exacerbates the problems associated with externalities. Ob. Such externalities eliminate "free-riding" c. In the absence of government intervention, markets with positive externalities often fail to produce the maximur total benefit to society, as measured by total surplus. d. Markets with positive externalities produce too much of the good or service in question.Sub : EconomicsPls answer very fast.I ll upvote. Thank You The figure below shows the market for water-skiing permits on Shuswap Lake in British Columbia. Every person who wishes to water ski must obtain a permit, which is valid for one day. Suppose that each water skier imposes a $4 negative externality on other people who use the lake.
- Sub : EconomicsPls answer very fast.i ll upvote correct answer . Thank You The figure below shows the market for water-skiing permits on Shuswap Lake in British Columbia. Every person who wishes to water ski must obtain a permit, which is valid for one day. Suppose that each water skier imposes a $4 negative externality on other people who use the lake.1. For each of the goods listed below, discuss whether the good is likely to entail an external cost or an external benefit. Additionally, explain if the market is likely to produce more or less than the social optimal. a. Vaccinations b. Cigarettes c. Antibiotics d. Sriracha sauce19. This next question will require you to draw on what you have learned about supply and demand and taxes. A study finds that leaf blowers make too much noise; therefore it is considered a externality, so the government imposes a $10 tax on the sale of every unit to correct for the social cost of the noise pollution. The tax completely internalizes the externality. Before the corrective tax, Leaves are Us Manufacturing regularly sold blowers for $100 and market quantity is 300. Draw the supply and demand curve for leaf blowers. Label the axes, the curves, market price, market quantity, and equilibrium. Which curve represents private or internal costs? represents external and private costs? This is also known as What is the private market price? What is the private market quantity? Which curve costs. After the tax is in place, the consumer price of leaf blowers rises to $105. With this change in price, the number of leaf blowers will (decrease/increase). Why will this happen?
- Economics: Public Economics Question: 1 Figure 6 (Graph 5) Refer to Figure 6, Panel (b) and Panel (c). Which of the following is correct? a. A tax would move the market in Panel (c) closer to the socially optimal outcome, but a subsidy would move the market in Panel (b) closer to the socially optimal outcome. b. A subsidy would move the market in Panel (b) and the market in Panel (c) closer to the socially optimal outcome. c. A tax would move the market in Panel (b) and the market in Panel (c) closer to the socially optimal outcome. d. A subsidy would move the market in Panel (c) closer to the socially optimal outcome, but a tax would move the market in Panel (b) closer to the socially optimal outcome. Question: 2 Two arms, A and B, each currently emit 100 tons of chemicals into the air. The government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution emitted into the air. The government gives each arm 40…24. When a good or service is Non-Rival and Non-Excludable, it is is classified as a a) Private Good b) Externality e) Club Good d) Public Good 25. An economist reasons as follows: "Time spent at home taking care of a child is time not spent earning income, so the opportunity cost of having a child includes the potential wage earnings women give up by parenting." Assuming we agreed with this, and that women enjoy children (and/or invest in them to be taken care of in retirement), we would conclude that, all else equal: b) a) in societies were wages for women's work is low, women are likely to choose to have more babies. in societies were wages for women's work is low, women are likely to choose to have fewer babies. women have too many children in poor countries economists cannot make any predictions about the determinants of population growth. c) d) 26. Digital music files can be easily and almost withor duplicated and transmitted to thousands of users who download them via free…4. Efficiency in the presence of externalities Cars impose many external costs on society: carbon dioxide emissions that contribute to air pollution, congestion on roadways, and so on. Therefore, the market quantity of cars is not equal to the efficient quantity. The following graph shows the private demand for cars, the private supply of cars, and the social supply of cars, which incorporates both private costs and external costs. Use the black point (plus symbol) to indicate the market quantity. Next, use the purple point (diamond symbol) to indicate the socially optimum quantity. Note: Drop lines will extend to both axes automatically. DERIVATE QUARKET O5OCIAL SSOCIAL SPRVATE QUANTITY OF CARS From society's standpoint, the market is producing cars. This is an example of of resources. PRICE OF CARS
- Asap plz... Use a diagram and explain how the total net benefit will be changed if an externality exists in a market4. Hydraulic Fracking is the process of drilling and injecting fluid into the ground at a high pressure in order to fracture shale rocks to release natural gas inside to be sold as an energy source. Up to 600 chemicals are used in fracking fluid, including known carcinogens and toxins. This is an example of a... a. Negative production externality b. Negative consumption externality C. Positive production externality d. Positive consumption externality1. Please explain what is meant by externality, then give an example of an externality casepositive and negative2. Explain the way or form of government intervention to solve the problem negative externality