An automobile that you own could be considered a rival good, while flood control might be a good example of a non-rival good. Select one: O True O False
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- Consider the case of global environmental problems that spill across international borders as a prisoners dilemma of the sort studied in Monopolistic Competition and Oligopoly. Say that there are two countries, A and B. Each country can cheese whether to protect the environment, at a cost of 10, or not to protect it, at a cost of zero. If one country decides to protect the environment, there is a benefit of 16, but the benefit is divided equally between the two countries. If both countries decide to protect the environment, there is a benefit of 32, which is divided equally between the two centuries. In Table 12.10, fill in the costs, benefits, and total payoffs to the countries of the following decisions. Explain why, without some international agreement, they are likely to end up with neither country acting to protect the environment.An increase in globalization has lead to an increase in pollution, and this is a problem because pollution is seen to be the classic example of a This is a that individuals impose on others but do not pay for. O negative externality, cost O possitive externality, benefit O negative externality, benefit O possitive externality, costions 1. A single firm's innovations in production technology often benefit the production of other firms because these other firms learn about the new technology and can use some of the ideas in their own production. ems a. Is there an externality here? 0. How would an economist rank the following two policies in this situation? Why? 1.A tariff on imports, to make sure that domestic production using the new technology occurs. IL. A subsidy to domestic production, to make sure that domestic production using the new technology occurs. C. What third policy (a tax or a subsidy to something) would the economist recommend as even better than these two?
- cap-and-trade and windfall profitsA city called Seoul is suffering from high concentrations of mercury in the air, caused by burningcoal in power plants. There are two of these plants close to the city. The city’s mayor wants touse cap-and-trade to reduce emissions to a reportedly “safe” level of 60 tons. The two firms havethe following marginal benefits of emissions: MB1 = 100 – 2e1, MB2 = 25 – 0.5e2.a. How much mercury will each firm emit? What allowance price will prevail in themarket?Firm 2 hires a smart lobbyist who convinces the government that its profits are relatively low andthat it therefore deserves a generous allowance allocation. The government agrees and allocatesa1 = 20 allowances to firm 1 (for free) and a2 = 40 allowances to firm 2 (for free).b. What are the firms’ profits? Do any of the firms earn windfall profits? [Hint: compareprofits with and without regulation.] Windfall profits have been sharply criticized by consumer advocacy groups and politicians.c. What can…1. what should the government do to reduce the negative externalities in the mining industry? give at least two(2) examples. what should mining businesses do to reduce the negative externalities of this industry? give at least two(2) examples. 2. are mins considered as a public good or a common source? defend your answer 3. will it be better for the philippines to withdraw from the mining industry altogether? why or why not?Which of the following is an example of environmental standards? O A. tradable pollution permits O B. taxes on the level of pollution OC. legal limits on SO2 emissions O D. none of the above
- ASAP plz Why don't people/stores make different decisions? Cost is a factor: a case of foam take-out containers costs $25, compared with $58 for paper and recyclable-plastics. How does this affect the firm's profit? Are consumers willing to pay more? Negative externality Consider the demand and supply given above. Suppose there is an external cost given by MEC=5Q. Find social equilibrium price and quantity. Draw a graph and label both private and social equilibrium.ASAPDetermine the type of market failure represented by the scenario below: Buying a used appliance on Ebay Select one: O a. public good O b. tragedy of the commons O . asymmetric information O d. negative externality O e. positive externality
- What is the "rivalry” and “excludability" of the following goods? Also, if applicable, are they classical, club, public, or common goods? a. a smartphone b. a Motrin pill c. the Pythagoras theorem d. sand on the beach a gym membership f. a tower that emits cellular signal e. g. a seat to a concert h. the Solow-Swan Growth Model i. the Kuznet's curve j. chickens on a farmThe government provides public goods because Select one: O a. private markets are incapable of producing these types of goods. O b. free-riders make it difficult for private markets to supply the socially optimal quantity. O c.external benefits will accrue to private producers. O d. markets are always better off with some government oversight.qs abiv 30 ovo pilo 5. Oil spills from oceangoing tankers are rare but bring huge damages to coastlines when they occur within 200 miles of shore. Unfortunately, most tanker spills do occur on or near coasts. Rank the following alternatives according to how efficient they are in i jud, responding to the threat of oil spills. Explain your ranking. a. Each nation with an endangered coastline should impose a tax on all imported oil, a tax that raises enough revenue to compensate for any oil-spill damages. b. Each coastal nation should impose a tax on all domestically purchased oil, a tax that raises enough revenue to compensate for any oil-spill damages. c. Oil-carrying companies should be legally liable for all damages, in the courts of the countries whose national waters are polluted by the spills. d. Each coastal nation should intercept all oil tankers in national waters and charge them a fee that will cover the estimated costs of future oil spills.
