The table below represents the combinations of beet and corn produced on å tract of lahd ogiven size and fertilityCorn (bushels) Beef (kg)1000080009006000120040001400200014751500Which of the following combination represents unattainable production levels with the currenttract of land?Select one:O a. 8000 bushels of corn and 500 kg of beefO b. 6000 bushels of corn and 1300 kg of beefO c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg ofbeefd. 200 bushels of corn and 1475 kg of beefe. 8000 bushels of corn and 1200 kg of beef

The production possibility curve shows the various combination of the output with the given…

The table below represents the combinations of beet and corn produced on à tract of land given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 0. 1500 Which of the following combination represents unattainable production levels with the curren tract of land? Select one: a. 8000 bushels of corn and 500 kg of beef O b. 6000 bushels of corn and 1300 kg of beef C. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef d. 200 bushels of corn and 1475 kg of beef e. 8000 bushels of corn and 1200 kg of beef

The table below represents the combinations of beet and corn produced on à tract of land given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 0. 1500 Which of the following combination represents unattainable production levels with the curren tract of land? Select one: a. 8000 bushels of corn and 500 kg of beef O b. 6000 bushels of corn and 1300 kg of beef C. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef d. 200 bushels of corn and 1475 kg of beef e. 8000 bushels of corn and 1200 kg of beef

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 13SCQ: A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals...

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A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwoods forest and grow com, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table 12.11 shows possible combinations of economic output and environmental protection. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between T and R, decide which one is better. Why? In the choice between T and S, can you say which one is better, and why? If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice Q or S? Why?
What is an externality?
The chapter defines private enterprise as a characteristic of market-oriented economies. What would public enterprise be? Hint: It is a characteristic of command economies.
In what ways (it) company investments in research and development create positive externalities?
What does a point inside the production possibility frontier represent?
In the tradeoff between economic output and environmental protection, what do the combinations on the protection possibility curve represent?
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.
Suppose you have inherited a few acres of landfrom a relative and you are considering what to dowith your inheritance. A farmer with land next toyours offers to buy your acres so he can expand hisgrazing area. How will you decide whether to sellyour land to the farmer? What factors should youconsider?
Two important industries on the island of Bermuda are fishing and tourism.According to data from the Food and Agriculture Organization of the United Nationsand the Bermuda Department of Statistics, in 2009 the 306 registered fishermen inBermuda caught 387 metric tons of marine fish. And the 2,719 people employed byhotels produced 554,400 hotel stays (measured by the number of visitor arrivals).Suppose that this production point is efficient in production. Assume also that theopportunity cost of 1 additional metric ton of fish is 2,000 hotel stays and that thisopportunity cost is constant (the opportunity cost does not change).a. If all 306 registered fishermen were to be employed by hotels (in addition to the2,719 people already working in hotels), how many hotel stays could Bermudaproduce?
Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?
Part D E F needed b) Ana also reads that climate change is caused by carbon emissions from air travel. Two airlines run flights between two cities, Air A and Air B. The government has said that the airlines can produce 100 units of carbon emissions between them, under a carbon permit scheme, and should decide how to split the 100 units between them. Air A and Air B have the same operating costs and the same costs of reducing the amount of carbon that they produce per flight.Say Air A has been operating on the route for over 50 years and the government decides to give all the permits to Air A (based on its long use of the route). Air A offers a proportion R of the 100 units of permits to Air B and Air B can accept the offer or reject it and not fly on the route.• How will the other parameters of the model as discussed in this module affect the value of R* at which Air B accepts the offer?• Say that the government gives the permits to Air A for 5 years, and will gives them to Air B for…
Suppose a Farmer has a fixed resource of 80 acres planted in corn. If the farmer does not cultivate the cornfield (clear the weeds) at all, the yeild will be 40 bushels per acre. If he cultivates the land onece, putput may rise to 50 bushels per acre. A second cultivation may increase output to 57 bushels per acres, a third to 61, and a fourth to 63. What will succeeding cultiation do?