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- Explain rate of return regulation and price cap regulation. What are the major implications of these models for public utilities? How do these pricing approaches affect the price consumers pay for the utility services?Are utilities a public good, by definition?What roles does economics play in California energy regulation?.
- Discuss the social and economic implications of subsidising the transportation industry.It has been estimated that privately run buses, trains, and subways are about 10 percent cheaper, on a per rider basis, than the same transportation if government run. Is public transportation a public good? On this basis, would you recommend that public transportation be privatized? What additional information would you want to make this decision?Examine the Jamaica Urban Transport Company (JUT), and advise the government of Jamaica if subsidizing the JUTC makes good economic sense. Support your arguments with articles from the Jamaica Gleaner, Jamaica Observer, and other relevant sources.
- A company is considering building a bridge across a river. The bridge would cost $2 million to build and nothing to maintain. The following table shows the company's anticipated demand over the lifetime of the bridge: Price per crossing ($) Number of crossing, in thousands 8 0 7 100 6 200 5 300 4 400 3 500 2 600 700 0 800 a. If the company were to build the bridge, what would be its profit-maximizing price? Would that be the efficient level of output? Why or why not? b. If the company is interested in maximizing profit, should it build the bridge? What would be its profit or loss? c. If the government were to build the bridge, what price should it charge? d. Should the government build the bridge? Explain.Which stakeholders are more impacted by Starbucks Corporate Social Responsibility (CSR)?Suppose that a chemical manufacturing plant is releasing nitrogen oxides into the air, and these emissions are associated with health and ecological damages. Economists have estimated the following marginal costs and benefits for the chemical market, where Q is monthly output in thousands of pounds and P is price per pound. MSB = 50 – 0.4Q; MSC = 2 + 0.4Q; MEB = 0; MEC = 0.2Q. Find the dollar value of a product charge that would achieve an efficient solution.
- Is the demand for public transit more responsive to price changes or service quality changes? Discuss the implication to transportation policies.(Type out correct answer ASAP with proper step by step explanation.will give positive rating only for correct answer.thank you) Consider a competitive market for single-use plastic bags. Market demand is given by P=15 - Q/500, where P is the market price and Q is the quanity demanded. The marginal cost of producing plastic bags is constant, resulting in a market supply curve given by P = 3. However, every single-use plastic bag generates an external cost equal to Q/500 (note: it is increasing in the quantity produced). Hence the marginal social cost is MSC = 3 + Q/500. Now carefully respond to the following questions. A. What is the price and quantity of plastic bags prodyced in the competitve market equilibrium? B. What is the efficient (or socially optimal) quantity of plastic bags? At what price should they be sold?List and explain the two defining characteristics of public goods.