11.00 10.00 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 Supply Marginal Social. Benefit Demand 300 600 900 1200 1500 1800 2100 2400 In the market depicted above, how large is the deadweight loss from the externality? O a. 1000 O b. 600 O c. 900 O d. 800
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- Consider a uniformly mixed pollutant. If all of the polluters have different individual marginal abatement cost functions, then it wll not be possible to design a cost effective policy. Select one: O a. True O b. FalseA pharmaceutical company develops a vaccine against malaria, a disease that kills large numbers of people worldwide. This vaccine market presents Opositive externalities Onegative externalities Opublic goods Osocial cost and as a result Othe private demand for vaccine is greater than the social demand Othe social demand for vaccines is greater than the private demand Othe market will result in an over production of vaccines Othe price of the vaccine will be too low to generate profitfor the firm ZER F11 F12 F6 F7 F8 F9 F10 prt sGovernment interventions that are used to pay full compensation to the Victim by the Perpetrator of negative externalities: O a. are at the MEB level O b. are at the TEC level are at the MEC+MEB level O d. are at the TEB level O e. are at the MEC level
- 10.00 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 b. subsidy = $3 25000 50000 75000 100000 125000 150000 175000 Oc. tax = $3 Supply O d. subsidy = $4 - Demand If a tax or subsidy were used to correct the externality, what would be chosen? O a. tax = $4 ✡3 B. MSC 200000ice 60 MSC 50 40 MPC 30 20 10 MPB-MSB 10 15 20 25 1,000s tickets 30 Suppose a printing company that makes paper tickets is located in a city that ensures that all negative externalities generated by the production of tickets are internalized by the company. With this intervention, what is the market price of each box of 1000 tickets? O $20 O $30 O $25 $1024 22 18 16 6 Price O 120 units 40 units 0 units 120 O160 units 160 Social cost (pavate cost and extemal cost) The graph shows the market for a chemical that produces a negative externality. The socially optimal quantity is Supply (private cost) Demand (pavate value) Quantity
- Supply 10.00 9.00 8.00 7.00 6.00 MSC 5.00 4.00 Demand 3.00 2.00 1.00 25000 50000 75000 100000 125000 150000 175000 200000 If a tax or subsidy were used to correct the externality, what would be chosen? O a. tax = $4 O b. subsidy = $3 O C. tax = $3 O d. subsidy = $4 B.Commun U ASTRAL15963907 Su Home | Shöreline C E D Multiple Choice O Quantity Refer to the provided supply and demand graph for a product. In the graph, line S is the current supply of this product, while line St is the optimal supply from the society's perspective. One solution to this externality problem is to give consumers a subsidy of the amount FG per unit. tax producers by the amount DE per unit. give producers a subsidy of the amount AB per unit tax consumers by the amount EF per unit Seved SaveWhat is an externality?
- Time left 0:27:07 Suppose that flu shots create a positive externality equal to $12 per shot. What is the relationship between the equilibrium quantity and the socially optimal quantity of flu shots produced? Select one: The equilibrium quantity is less than the socially optimal quantity. O a. O b. The equilibrium quantity is greater than the socially optimal quantity. Oc. They are equal. O d. No relationship exists. Next page 26°C Mostly cloudy tour on this page Type here to searchUniversity researchers create a positive externality. If there are no subsidies, what is the relationship between the equilibrium quantity of university research and the optimal quantity of university research produced? Select one: O a. the equilibrium quantity is optimal O b. the equilibrium quantity will be greater than the socially optimal quantity O c. the equilibrium quantity will be less than the socially optimal quantity O d. the equilibrium quantity will be equal to the socially optimal quantitycap-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…