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explain using the diagram why a negative externality leads to a market failur. how can the Government fix the problem created by a negative externality?
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- part D E urgnty needThe satisfaction that an individual gain after consuming a cold Orange Juice on a hot day describes * a.Public benefit b.private benefit c.external benefit d.social benefit If it costs Levy $1.50 to prepare a burrito, that would reflect it's: a.social cost b.external cost c.private cost d.Public cost As a result of the COVID19 pandemic, the Government will be opening a pre-school in Back-A- Town area, and subsidizing the cost. The reason for this is because the government is of the opinion that pre-school education is: * a.Underpriced b.Overproduced c.Under-produced d.Over-produced Full funding of tertiary level education is an example of a government: * a.Tariff b.Tax c.Subsidy d.LoanSuppose Troutsville (population of 4) wants to put on a firework display. Leslie would get $40 worth of benefit, Mark would get $30 worth of benefit, Maggie would get $20 worth, and Erika would get $10 worth. What is the socially efficient amount to spend on the display? a. $25, the average of their benefitsb. $10, the minimum of their benefitsc. $40, the max of their benefitsd. impossible to telle. $100, the sum of their benefits
- It’s Friday night. You already have a ticket to aconcert, which cost you $30. A friend invites youto go out for a game of paintball instead. Admission would cost you $25, and you think you’d get$25 worth of enjoyment out of it. Your concertticket is nonrefundable. What is your opportunitycost (in dollars) of playing paintball?Wireless, high-speed Internet is provided for free inthe airport of the city of Communityville.a. At first, only a few people use the service.What type of a good is this and why?b. Eventually, as more people find out aboutthe service and start using it, the speed of theconnection begins to fall. Now what type of agood is the wireless Internet service?c. What problem might result and why? What is onepossible way to correct this problem?Match the good with it's best characterization. A. Open-access resource B. Private good C. Public good D. Club good select A B C D 1. Poke bowl select A B C D 2. Clean air select A B C D 3. Blue fin tuna select A B C D 4. Private beach select A B C D 5. Over-crowded public beach select A B C D 6. Uncrowded public beach select A B C D 7. Open-source software (like Python, R, or Linux) select A B C D 8. Commercial software (like Microsoft Word) select A B C D 9. Organic, free-range chicken
- dont use chatgpt i will 5 upvot How does pollution violate consumers’ negative right? A. They are paying for the product with their health. B. They are paying for something they did not want. C. They are paying for more than the amount they ultimately receive. D. They are paying more than others for the same product.Economics 103-2 -3 -4 -5Your Name:__________________________________________Professor FriedmanYour TA:____________________________________________Spring 2016Your Section Time and Day:_____________________________Date Tuesday February 16 (UMass Monday)Please write neatly!Class 8, Quiz 6: To be done at home and handed in to TA sectionNote that you may work with one other person from your TA section.Externalities and Coase’s theoremYou have an insane roommate who plays “Let it Go†(from Frozen) on repeat on her phone allthe time and thinks that everyone should put on pink tutus and sing very loudly and dance to it.You share your apartment with him and with three others. Three of you suffer $25 of braindamage every night from the Frozen experience; one person suffers only $5; and the insane onegets $90 of pleasure.1. Should he stop? What is the efficient outcome of the Frozen dispute?2. Would it matter who owns the stereo and holds the…the addition to a company's plant is for the purpose of producing a new product is an example of Select one: a. oppurtunity cost b. sunk cost c. cannibalization d. externality
