A global-positioning anti-theft device installed by one car owner can produce a positive spillover to other citizens in a community. Discuss the impact on the: (i)  Private benefit curve (ii) Social benefit curve (iii)  Private cost curve (iv) Social cost curve

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: Which of the following is an example of a pure public good? a. A hamburger sold in a restaurant on…

A: Pure public goods are those that are fully non-rivalrous and non-excludable in terms of consumption.…

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A: Public goods are those goods that are available to all the members if a society and these are…

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

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A: Option (1).

Q: Provide three examples of public goods in your hometown. Explain how each is nonrival and…

A: A non-excludable and non-rivalrous public good is one that the government supplies.  Defence,…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: When the actions of one individual have spill over effects on the economy they are termed…

Q: ____________ includes both the private costs incurred by firms and also the (external) costs…

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Q: Use supply and demand diagrams to show that, in the presence of negative externalities (e.g.,…

A: a) The marginal social cost (MSC) curve is above the marginal private cost (MPC) curve by an amount…

Q: Which of the following describes a defining characteristic of a public good? Select the correct…

A: Public good is non excludabe and non rivalry.

Q: How can the benefit-cost analyses attempt to determine whether thesocial benefits of a proposed…

A: Social Cost-benefit analysis surveys all the impacts of the proposed public activity. It consists of…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: Positive exertnality of consumption is positive spill over effect on third party / society because…

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A: Answer to the question is as follows:

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: We are going to use Marginal benefit- Marginal Cost analysis to answer this question.

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: "Since you have asked a question with multiple sub-parts, we will solve first four sub-parts for you…

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: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: If one car owner installed the global anti-theft device and it produces a positive spillover to…

Q: Question 1 A global-positioning anti-theft device installed by one car owner can produce a positive…

A: We will use concepts such as Marginal Social benefits, Marginal Social Costs, Marginal Private…

Q: The marginal private benefit (downward sloping) and marginal private cost (upward sloping) curves…

A: Externality refers to the effect of production or consumption on third party which is not involved…

Q: Define the concepts of public good, non-excludable, non-rival, and tragedy of the commons.

A: Define the concepts of public good, non-excludable, non-rival, and tragedy of the commons.

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A: Introduction: The present notion of components of production is mostly drawn from a neoclassical…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: If a single car owner installed the anti-theft device, it will produce positive spillover to other…

Q: Question 1 A global-positioning anti-theft device installed by one car owner can produce a positive…

A: Positive externality refers to the situation where the third party who does not involve in the…

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Q: Discuss the socially optimal quantity of a public good? Explain using a diagram.

A: PLEASE FIND THE ANSWER BELOW.

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A: Negative externality refers to the situation where the third party who does not involve in the…

Q: What are the essential characteristics of public goods? Why might it be difficult for private sector…

A: Pubic good is a good whose consumption by one do not reduce its availability to others and from…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: A spillover, in economics, refers to an event that is caused by a seemingly unrelated event. In…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: A loss or benefit generated by a product which is not economically accrued or obtained by that…

Q: What are the two characteristics of public goods? What is the free-rider problem as it related to…

A: Characteristics of public goods are They are nonrival in nature ie the consumption of the good by…