Explain The theory of external economies, Fixtemnal conony and intermational trade

Q: Provide an example for each of the four goods: Private Good, Common Resource, Club Good, Public…

A: In economics, goods are mainly categorized under 4 categories that are a public good, private good…

Q: Mary, a college student, is practicing her economics knowledge by allocating scarce resources.  She…

A: Answer to the question is as follows :

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: Consider a two sector economy consisting of education and industry, with input-output matrix…

A: We are going to solve Leontief matrix to answer this question.

Q: Explain in words and show in your graph the “spillover cost" that occurs if people supply labor (S)…

A: A negative externality / external cost is a type of spillover which imposes a cost on the third…

Q: The Chinese town of Qiaotou produces 60 percent of the world’s buttons. One problem is that Qiaotou…

A: External economies of scale are business-upgrading factors that happen outside an organization…

Q: Which of the following is example of external economies of scale? Discount on purchases of raw

A: To find : Example of external economies of scale.

Q: theory of external economies a

A: External economies of scale occur when an entire industry grows faster & firms get benefitted…

Q: which increases agricultural production greatly, damages water quality. Discuss three (3) possible…

A: Production possibility curve (PPC) shows combination of two goods that are in fact choices that are…

Q: Which of the following is not a characteristics of public goods Select one: A) Goods are divisible…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Can more than one producer have an absolute advantage at producing the samegood? Why or why not?

A: No. It is not possible for more than one producer have an absolute advantage at producing the same…

Q: In the context of energy supply, describe how the existence of a negative production externality may…

A: When the production of goods and services causes harmful effect on the third party, individual or…

Q: Typically this kind of economic activity results in environmental harm through production and…

A: "Decoupling" means to separate one thing from another. Hence, when a country such as Econ Land…

Q: kate works at a community center, which collects donated coats. at winter time, kate gives a coat to…

A: There are seven different strategies for allocation of the scarce resources. They are: First come,…

Q: There are four consumers willing to pay the following amounts for haircuts, and there are four…

A: Willingness to pay is defined as the maximum amount a customer or consumer is willing to pay for a…

Q: What is a market failure? O It refers to the inability of the market to allocate resources…

A: The competitive market is said to be in equilibrium at a point where the demand curve of goods is…

Q: Use Production Possibility Frontier to discuss the idea of 'efficiency'.

A: Production possibility frontier refers to different combination of two commodities that can be…

Q: Which of the following demonstrates a market failure? Select all that apply. O The negative…

A: In a market, market failure refers to the situation when market is not operated at the equilibrium…

Q: Consider the following information C= 100+0.8Y I=20 G=20 X=10 M=5+0.02Y T=20+0.1Y A. Calculate the…

A: A closed economy is one that has no trading activity with outside economies. The closed economy is…

Q: What is the name for each of the following classes of goods, and provide two examples for each.…

A: There are four different types of goods : Private goods, public goods, club goods and common goods.

Q: By market​ failure, the author means   A. a situation that occurs when one​ person's consumption of…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: A certain simple economy has two sectors: work and play. To produce $1 of work requires $0.7 of work…

A: Most economic decision-making involves the concept of opportunity cost. Basically, what is given up…

Q: Lindahl taxes charge each consumer ___________________ and result in ___________________ of a public…

A: Public goods are the goods which are non-rival and non-excludable in nature. Non-rival goods the…

Q: An externality arises when one economic agent's actions affect the welfare of others in ways that…

A: The indirect benefit or cost being caused to third parties mainly arising due to the effect of…

Q: the heckler-ohlin analysis, a country imports the good that uses intensively the countries…

A: The Heckscher–Ohlin theorem is one of the four critical theorems of the Heckscher–Ohlin model,…

Q: industry 14 D B 4567 9 10 11 agriculture Here's a production possibility frontier graph. In this…

A: The production possibility curve depicts the combination of two goods that a nation can produce by…

Q: Explain which of the following cases are classified as (A, B, C, or D) : (A) Negative Externality…

A: A positive externality may be a benefit that's enjoyed by a third-party as a results of an economic…

Q: How are resource decisions affected by the global market and world events? Provide a real-world…

A: The countries in the world have developed their economies by interacting with the other countries…

Q: A certain economy which produces two goods G1 and G2 has the technology matrix 03 04 02 0.6 A=…

A: We are going to solve for Input- Output Matrix to answer this question.

Q: Suppose that when farmers grow tomatoes, they use pesticides that leak into the ground water and…

A: Externality when welfare of someone who is not directly involved  in the economic  activity is gets…

Q: (environmental) externalities? Explain one example from production/consu

A: Externalities are the cost or benefit incurred by third party due to activities of other party.

Q: Please explain the theory of external economies

A: Theory of external economies of scale Economies of scale takes place when average cost starts to…

Q: Define social cost.

A: The private cost is the cost which is incurred by the producer to purchase the factor of production.…

Q: Large taxes on energy companies whose production activities cause environmental damage. How does…

A: Negative externality refers to the cost incurred by society due to the actions of a producer. This…

Q: Briefly explain why the environmental protection efforts and public part beautification are unlikely…

A: environmental protection efforts and public part beautification are public goods Public goods are…

Q: In an overlapping generations exchange economy (1) provide an efficient equilibrium (2) provide an…

A: In an economy, overlapping generations refers to the place where more than one type of breed present…

Q: Provide two examples of each of the following:   • Positive Production Externalities   • Negative…

A: Externalities occur when producing or consuming a decent cause an effect on third parties in a…

Q: ystem (Academic) es of Microeconomics || Fall20 At the current level of output, the marginal social…

A: Marginal social benefit is associated with the change in benefits due to the change in consumption…

Q: Define "Free Good" in a general equilibrium framework. Explain whether the goods are free goods in…

A: General Equilibrium is defined as a theory which analyzes the economy as a whole, instead of…

Q: A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

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…