6. There are three groups in a community. Their demand curves for public television in hours of programs, T, are given respectively by W1 = $200 –T W2 = $240 – 2T - W3 = $320 – 2T Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour. What is the efficient number of hours of public television?

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A: Free market equilibrium is where marginal private cost is equal to marginal private benefit.…

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Q: 22.) Consider a market subject to a negative externality cause by pollution. Suppose that,…

A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…

Q: negative externality

A: Negative externalities are those externalities which is occurred by the third party other than the…

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Q: 9) There are three groups in a community. Their demand curves for public television in hours of…

A: The correct answer is given in the second step.

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Q: List and explain the two defining characteristics of public goods.

A: Public good is the good which is available for all the members of the society. The two main…

Q: 9) There are three groups in a community. Their demand curves for public television in hours of…

A: Public goods are those goods which is available for all no any individual have rights on those goods…

Q: 14. Suppose that the market for a certain good has an inverse demand of P = 200 – Q. The aggregate…

A:

Q: 2. A frequently overlooked source of pollution in agricultural industries is "odor pollution." Some…

A: A. Social marginal curve (SMC) is as follows When Each pound of bacon produced leads to a $2…

Q: Suppose the government wants to reduce the total pollution emitted by three local firms. Current

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Q: 8. The graph above reflects the individual demands and the supply curve for a public good. Suppose…

A: Deadweight loss (DWL) is the quantity neither produced nor consumed because of higher prices of the…

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A: We have MC = 4 with two individual in the economy.

Q: Explain why the private provision of public goods leads to an inefficient level of public goods.

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: #6. If government regulation forces firms in an industry to internalize a negative externality, then…

A: In the presence of negative externality, we have social marginal cost more than the private marginal…

Q: 3. Suppose that the inverse market demand curve for cloth is p = 150 - 2Q, the private marginal cost…

A: Given Inverse demand curve P = 150 - 2QPrivate marginal cost(MPC) MCp = 75 +QPrivate marginal damage…

Q: The following table shows the marginal benefits of a pure public good that can be enjoyed by four…

A: Public goods: These types of goods are provided to all the members of society without profit either…

Q: 22.) Consider a market subject to a negative externality cause by pollution. Suppose that,…

A: Externality can be defined as the cost or benefit caused from a producer which not incurred…

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A: Externality refers to spill-over effect of a good on third party which is not involved in either…

Q: Question 1: Market Failures 1. Is there a market failure associated with common-pool resources? If…

A: Since you have multiple questions, we would be answering the first one for you. In case you need the…

Q: Suppose there is a society with two people who have the following valuations of level y of a public…

A: The marginal benefit of the first person, MB1(y) = 605/ √y The marginal benefit of the second…

Q: Explain the efficiency condition for Public Goods

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Q: #8. If government regulation forces firms in an industry to internalize the externality, then we can…

A: In order to reach a socially optimum level of output, costs of negative externalities are shifted to…

Q: uppose there are only two individuals in society. Person A’s demand curve for mosquito control is…

A: In the case of a pure public good, there is non-rivalry and non-excludability. Non-rivalry implies…

Q: мса 3 Consider a competitive market in which units of output are produced at a total private cost…

A: Socially efficient quantity is produced at a point where marginal social cost is equal to marginal…

Q: Question 6 In an economy with two consumers (1 and 2), the marginal benefit of a public good is MB =…

A: For public goods, efficient quantity is produced where marginal social benefit is equal to marginal…

Q: 3. Suppose that the inverse market demand curve for cloth is p= 150 - 2Q, the private marginal cost…

A: Given: The inverse demand curve for cloth is: P = 150 - 2Q The private marginal cost is: MCP = 75 +…

Q: why marine pollution is considered a negative externality?

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first question for you as per…

Q: 3) The supply and demand of sugar are given as Q. = 5P, Q = 250- P where Q, is tons supplied per…

A: Answer a) Market equilibrium, where  Qd = Qs,250 - P = 5P6P = 250P = 41.67Q = 5 x 41.67…

Q: 2. Consider a society consisting with three individuals whose demand curves for a pure public good…

A: Public good refers to the good which shows that the goods are nonexcludable and nonrival.…

Q: Suppose that this industry results in extreme externalities. What can be said about its optimal…

A: An externality is the impact of a business transaction on a third party who is outside or "external"…

Q: 1. Suppose that the following discrete numbers show the integer values of MWTP and MC as depicted in…

A:

Q: 5. Correcting for negative externalities - Regulation versus tradable permits Imagine the government…

A: Government-issued permits known as "tradable pollution permits" allow businesses to produce up to a…

Q: 5.. "Since a public good is enjoyed by all members of society, willingness to pay for the good will…

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Q: 4. Consider a two sector economy consisting of education and industry, with input-output matrix [0.7…

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Q: What are the two characteristics of public goods? Explain the significance of each for public…

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Q: 2. Table: The following table shows the private value, private cost, and social value for a market…

A: The level of output that mirrors every one of the expenses and advantages related with an exchange…

Q: Use your demand schedule for a public good, determined in question 1, and the following supply…

A: price quantity supply quantity demand 19 10 1 16 8 2 13 6 3 10 4 4 7 2 5 4 1 6

Q: 6. Consider a good with a production process with fixed costs and constant marginal costs. Which of…

A: The answers are - (a) If marginal costs are zero the good is non -excludable (b) If marginal costs…