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) (ii (ii) ate cost (iv) Social cost curve (v) Market equilibrium level of output (vi) Efficient level of output
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- Question 1 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: (iv) Social cost curve (v) Market equilibrium level of output (vi) Efficient level of outputQUESTION 1 SCENARIO: Developers of a new housing scheme spend money in the roads, lighting and clearing land surrounding the scheme. The type of market failure represented by the scenario is a/an Negative externality Public good Asymmetric information Positive externality The market fails in this scenario because: No market transaction takes place Goods are under produced Goods are over produced No private position Solution to the market failure is Subsidy Government provision Taxation Screening Signaling The equilibrium quantity is ______________ the social efficient quantity. Greater than Lest than Equal to The private benefit curve is Shifts outward to the social benefit curve Shifts inward to the social benefit curve Remains unchanged The private cost curve is Shifts outward to the social benefit curve Shifts inward to the social benefit curve Remains unchanged The Efficient output is found where the Social cost and the social benefit curve…[Topic : Market allocation and welfare; lecture: externality need part d and e
- Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer. Soybeans are produced and sold in a perfectly competitive market. The fertilizers used in soybean production generate a negative externality by seeping liquid contaminants into local rivers. (d) Assume instead of a lump-sum tax, the government decides to impose a per-unit tax equal to the marginal external cost. (i) On your graph in part (a), indicate the new market equilibrium quantity, labeled QN. (ii) What will happen to the deadweight loss? Explain.The four categories present potential responses to environmental problems. Place each response in the category that best matches it. It is possible that a category may end up with more than one scenario or none at all. Command‑and‑control regulation (e.g., environmental standards) Marketable or tradable pollution permits (e.g., cap‑and‑trade) Pollution or emissions tax Well‑defined property rights The government requires that auto manufacturers limit pollution to a specified threshold. An auto manufacture is charged a fee per unit of pollution emitted into a river. Auto manufactures are allowed to pollute as much as they wish, provided that they have purchased a sufficient number of pollution vouchers. The government requires that auto manufacturers use new, cleaner technology in producing cars. A steel mill pays nearby homeowners to compensate them for the noise they must put up with as a result of the steel manufacturing process.Please solve the second image. First option is "to contribute" or "to not contribute" Second option is "to contribute" or "to not contribute" Third option is "the creation of a positive externality" or "why markets are efficient" or "the free-rider problem" or "the Tragedy of the Commons".
- Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer. Soybeans are produced and sold in a perfectly competitive market. The fertilizers used in soybean production generate a negative externality by seeping liquid contaminants into local rivers. (a) Draw a correctly labeled graph of the soybean market, and show each of the following. (i) The marginal private cost, labeled MPC (ii) The marginal social cost, labeled MSC (iii) The marginal social benefit, labeled MSB (iv) The market equilibrium quantity, labeled QC (v) The socially optimal quantity, labeled QS (vi) The area of the deadweight loss, shaded completely (b) Assume the government sets a binding price floor such that the quantity demanded in the market is between QS and QC. (i) What will happen…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: (1) Social cost curve (2) Market equilibrium level of output (3) Efficient level of outputDo environmental issues require public intervention in the private marketplace? Distinguish among using tax policy, cap & trade, and regulation to correct any market imperfection, is such exists. Illustrate the impact on the amount of these products being produced and consumed.
- Problems and Applications Consider two types of cars: gasoline-powered cars and electric cars. Because conventional gasoline-powered cars burn fuel during their operation, people who drive gasoline-powered cars impose a externality on the society. A policy implication of this result is a those who drive gasoline-powered cars. Because electric cars help reduce greenhouse gas emissions, people who drive electric cars impose a externality on the society. A policy implication of this result is a those who drive electric cars.Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer. Soybeans are produced and sold in a perfectly competitive market. The fertilizers used in soybean production generate a negative externality by seeping liquid contaminants into local rivers. (c) Assume instead of a price floor, the government decides to impose a lump-sum tax. What will happen to the socially optimal quantity? Explain.Please assist with questions 1-3. The options for each question are as follows: Question 1 - negative externality, public good, assymmetric information or positive externality Question 2 - no market transaction takes place, goods are under consumed, goods are over consumed or no private provision. Question 3 - subsidy, government provision, taxation, screening or signaling
