A country is currently creating40 million tons of toxic waste per year. The table below shows the marginal costs and benefits of reducing the amount of toxic waste to various amounts. What level of toxic waste should the country reduce to?

Q: Which of the following is an example of an externality? a. a flu shot that prevents a student from…

A: An externality can be defined as a cost or benefit that arises when goods or services are being…

Q: One million plastic bottles being sold every minute is a pretty stark number showing why this is a…

A: Answer) Market failures are considered as a situation in which there is inefficient distribution of…

Q: The “demand” (MB) curve for pollution abatement would be given by the pollution damages that could…

A: a. Here, a firm's cost and benefit of pollution are graphed. The MC curve is the marginal cost curve…

Q: Why do economists care about positive externalities?

A: The externalities are the additional costs or benefits experienced by the person who is not a part…

Q: Would environmentalists favor command-and-control policies as a way to reduce pollution? Why or why…

A: The command-and-control regulation establishes particular pollution emission limitations and/or…

Q: PS=QS.  Anchovy pizza smells bad.  The bad smell imposes an external cost on anyone near the pizza…

A: The bad smell imposes an external cost to third party who is not directly involved in the…

Q: If society wishes to reduce pollution, why is it more efficient to tax the pollution rather than set…

A: Note- Since you have posted multiple independent questions in the same request, we will solve the…

Q: what are the corrective taxes? why do economists prefer them to regulate as a way to protect the…

A: Corrective tax is the tax which is enacted for reducing the negative externality. The production of…

Q: Discuss the economic externalities that can result from deforestation

A: Externalities occur when producing or consuming goods can cause an impact on third parties not…

Q: Why is it more efficient to tax pollution than to tax the output that produces pollution? Show a…

A: Negative externality: Negative externalities happen when the item and utilization of a decent or…

Q: Pollution is a negative externality. Why is it that the social optimum in a market that generates…

A: Externality: - it is a cost or benefit generated for the third party by the actions of other people.

Q: What are pollution havens? How are they created or why do they exist? Why do economists think they…

A: According to the Pollution Haven Hypothesis, businesses will want to avoid the costs of strict…

Q: Imagine that in the state of California a chemical producing firms has a marketable permit that…

A: A "carbon credit" permits the owner to emit a specific amount of carbon dioxide or other greenhouse…

Q: Which of the following is a positive externality?

A: Positive externality is the externality which impacts the society positively.  It occurs when the…

Q: Why is open access fishing a problem from both an economic and environmental perspective? What…

A: Open access fishing : When fishing is open to all and there are no limitation on fishing then is is…

Q: Think about a country where most economic production comes from factories that create air pollution.…

A: 1. To have a lower level of pollution, factories may cut down the production to lower down the level…

Q: The graph shows the marginal cost of abatement curve, which Price shows the extra cost to the firm…

A: A cost faced by businesses when they are forced to remove and reduce unwanted nuisances or negative…

Q: Describe aspects of environmental economics and ecological economics

A: Economics is a social It looks into how individuals, businesses, governments, and countries decide…

Q: Is zero pollution an optimal goal?

A: An externality is present whenever some economic agents' welfare (utility or profit) is directly…

Q: Show why we normally won’t want to pay what it would cost to eliminate every last bit of a negative…

A: Negative Externality: It is the cost that is incurred or suffered by the third person who is not…

Q: Kip and Yale run separate mining companies in the same forest. Both pollute the river flowing…

A: Externalities commonly are for the most part ecological, like natures resources or general…

Q: Is zero pollution an optimal goal? Why or why not?

A: An optimal goal is one that provides a positive outcome or a goal is said to be optimal when the…

Q: Is zero pollution possible under a marketable permits system? Why or why not?

A: Externality refers to the situation in which the act of production or consumption affects the third…

Q: What should the government set their corrective tax to if they want to eliminate 7 units of…

A: Each firm will bear the cost of eliminating certain units of pollution if the corrective tax rate is…

Q: Which of the following describes the effect of an optimal tax on pollution? Select one: a. a…

A: A tax is a mandatory financial charge or another type of levy imposed by a governmental organization…

Q: A system of tradable emissions permits ("cap and trade") ensures that: those who can reduce…

A: Tradable emission permits are caps and trade schemes that give firms a legal right to pollute a…

Q: Why is emission mitigation is considered as a public good?

A: Emission mitigation is considered as a public good.

Q: Firm A currently dumps 243 tons of chemicals into the local river. Firm B currently dumps 126 tons…

A: Pollution permits refer to the rights that are legally given to polluting to a certain amount.…

Q: Why is it socially efficient to set marginal benefits equal to marginal costs rather  than abating…

A:

Q: Do you think that there would be external effects associated with Water from a uranium mine leaking…

A: Water from a uranium mine leaking into Kakadu National Park is an example of external effect. An…

Q: Suppose that speeding imposes externalities on other people resulting in a social cost of $50. A…

A: Externalities occurs in the society or working of the economy when an action or policy is affecting…

Q: The federal government decides to require that automobile manufacturers install new anti-pollution…

A: The price elasticity of demand for a good is a measurement of how sensitive the quantity demanded is…

Q: How can a corrective tax adjust costs to reflect externalities? What effects will a corrective tax…

A: A negative externality is a cost that is encountered by a third party because of an economic…

Q: A developing country implements pollution laws for the first time. Initially, there are some…

A: Through implementing a pollution law by the government, they want to improve environmental…

Q: Fertilizer supply is explained by the following equation: ?? = 3,000? where ?? is the supply per…

A: Perfect competition refers to the situation where there are large number of prouder and consumers…

Q: Examples of element in the external environment

A: An external environment is made up of all the outside forces or pressures that affect how a company…

Q: What are corrective taxes? Why do economists prefer them to regulations as a way to protect the…

A: Corrective tax is the tax enacted to reduce the negative externality in the society. The corrective…

Q: Can extreme levels of pollution hurt the economic development of a high-income country? Why or why…

A: Pollution is always bad for human health and for the environment too. In economics, we always try to…

Q: Why is the efficient level of pollution not equal to zero?

A: The productive degree of pollution is the amount at which its all out benefits surpass its all out…

Q: Ecologists and environmentalists often consider the economy as the enemy of the environment. Please…

A: The pollution is a bad and the increasing level of pollution reduce the utilities for the…