The graph below shows the market for soya beans:Plot the two end points using the tool provided in the graphing area below. Plot only the end points of the curve and position thosepoints on the edge of the graphing area.0Price per kilo6456484032241680SDD Tools15 30 45 60 75 90 105120135150165180line 4O 8015 30 45 60 75 90 105120135150165180Soya beans (millions of kilos)a) Suppose that due to a bad harvest the supply of soya beans is reduced by 50 percent. (The quantities at every price are one-half ofwhat they are at present.) Draw the new supply curve in the graph above.b) As a result of the drop in supply, what are the new equilibrium price and quantity?New equilibrium price: $[New equilibrium quantity:24905Next >

The graph below shows the market for soya beans: Plot the two end points using the tool provided in the graphing area below. Plot only the end points of the curve and position tho points on the edge of the graphing area. 0 Price per kilo 64 56 48 40 32 24 16 D Tools 15 30 45 60 75 90 105120135150165180 line 4

The graph below shows the market for soya beans: Plot the two end points using the tool provided in the graphing area below. Plot only the end points of the curve and position tho points on the edge of the graphing area. 0 Price per kilo 64 56 48 40 32 24 16 D Tools 15 30 45 60 75 90 105120135150165180 line 4

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 11SCQ: The state of Colorado requires oil and gas companies who use fracking techniques to retune the land...

See similar textbooks

Similar questions

Graph the following data on social and market demand: Im pretty sure I have the graph correct but I am unsure how to find the anwsers to the questions. Price ($) 20 18 16 14 12 10 Market quantity demanded (units per month) 10 20 30 40 50 60 Social quantity demanded (units per month) 20 30 40 50 60 70 Does this product have external benefits or external costs? How large ($) is that externality
The condition that arises because the availableresources are insufficient to satisfy wantsSelect one:O aa. ScarcityO b. DeflationO c. CredibilityO d. Rationality
A steel foundry emits fumes that lead to a marked reduction in air quality for localinhabitants. a) Draw a diagram to show that at the foundry’s profit maximising output marginalsocial cost exceeds marginal private cost.
1. Factory does not insta scrubber. -armer uses south field croc Damage (S= 120 Farmer cost ($=0 Factory Cost($=0 Social cost =120 2. -actor does not install scrubber Farmer rents west field Crop Damage (S = 50 Farmer cost ($=20 Factory Cost$=C SocIal cost =/ 3.Factory installs scrubber, Farmer uses south field Crop Damage ($) = 35 Farmer cost ($=0 Factor Cost ($=40 Social cos 4.Factory installs scrubber, Farmer rents west field Crop Damage ($=0 Farmer cost (S\=20 Factor Cost $=40 Social cost = 60 Questions: 1.Suppose that the factory has the right to pollute and is under no legal obligation to install the scrubber. What is the farmer’s willingness to pay to induce the factory to install the scrubber? Why? 2.Suppose that the factory has the right to pollute and is under no legal obligation to install the scrubber. What is the factory’s willingness to accept in order to install the scrubber to abate its pollution? Why? 3.Under the property rule where the factory has the right to…
Please no written by hand and no image SEU ELITE - ECON101 Question 8 The table below shows the marginal benefit that Yahya earns from keeping his store open one more hour. Yahya has a marginal cost of $100 per hour. Yahya stays open 8 hours. Hours {:[" Marginal Benefit Per "],[" Hour "]:} 8 180 9 150 10 140 11 120 12 100 13 80 14 50 a) Do you think Yahya's decision to stay open 8 hours is optimal? Why? b) How many hours do you advise Yahya to stay open? Why?
What is an externality?
The state of Colorado requires oil and gas companies who use fracking techniques to retune the land to its original condition after the oil and gas extractions. Table 12.9 shows the total cost and total benefits (in dollars) of this policy. Calculate the marginal cost and the marginal benefit at each quantity (acre) of land restored. See Production. Costs and Industry Structure if you need a refresher on how to calculate marginal costs and benefits. If we apply marginal analysis, what is the optimal amount of land to be restored?
What is productive efficiency? Allocative efficiency?
Please helo me with this question There are 50 residents that live in a small town in California. Each resident uses electricity and there is one power station that produces electricity for the residents from coal. Each residents' demand for electricity is Q = 10 - 2P and the supply function for the power plant is Q = 150P. For each unit of electricity that the power station produces, there is a corresponding release of pollution that leads to asthma and other health problems for the 50 residents. The marginal damage of each unit of electricity produced, per person, is $.05. a. What is the market equilibrium price and quantity per unit of electricity? b. What is the efficient Pigouvian tax per unit of pollution? c. The government of this small California town decides to impose the efficient Pigouvian per unit tax on the power station. What is the new social optimum price and quantity per unit of electricity? d. What is the government tax revenue? e. What is the gain in total…
1.Factory does not insta scrubber. -armer uses south field croc Damage (S= 120 Farmer cost ($=0 Factory Cost($=0 Social cost =120 2. -actor does not install scrubber Farmer rents west field Crop Damage (S = 50 Farmer cost ($=20 Factory Cost$=C SocIal cost =/( 3.Factory installs scrubber, Farmer uses south field Crop Damage ($) = 35 Farmer cost ($=0 Factorv Cost ($=40 Social cos 4.Factory installs scrubber, Farmer rents west field Crop Damage ($=0 Farmer cost (S\=20 Factorv Cost $=40 Social cost = 60 1. Now the farmer has a right to pollution abatement, creating a lega duty for the factory to install the scrubber no additional crop damages will be paid if the factory fulfills the duty to install the scrubber). What is the factory's willingness to pay to continue polluting without the scrubber? Why? 2. Now the farmer has a right to pollution abatement, creating a legal duty for the factory to install the scrubber (no additional crop damages will be paid if the factory fulfills the duty…
Kevin and Maria are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Alfalfa Barley (Bushels per acre) (Bushels per acre) Kevin 40 8 Maria 28 7
The maximum amount of steel or aluminum thatCanada and France can produce if they use all thefactors of production at their disposal with the bestthe technology available to them is shown (hypothetically) in Table 2.8.