Whenever we think of a resource, say forest, the value that immediately comes to our mind is the utility that we drive directly from the resource, such as timber. However as environmental scientist, we know that a forest has other values other than direct use value of economic value of a resource. Enumerate the types of economic values and discuss the various uses or utility of a protected coral reef area like the Tubbataha reef or protected forest like Mt. Makiling or Mt. Apo (Discuss only one).

Q: Provide three examples of public goods. Explain how each is nonrival and non-excludable.

A: Non-excludable: - it is a condition where a person cannot stop another person from using a good or…

Q: Is the following good a private good, a public good, a common resource, or a club good? Explain why…

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Q: Which one of the following is a definition of a merit good? A) Services which can only be provided…

A: Part A Merit goods are those goods that are underconsumption, which means that the customer is not…

Q: What is the “common pool problem” otherwise known as the “tragedy of the commons,” and how does it…

A: Common-pool resource: The common pool resources are those resources that are commonly used by…

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: Whenever we think of a resource, say forest, the value that immediately comes to our mind is the…

A: The markets are the place where the buyers, and the sellers of goods and services tend to meet and…

Q: Suppose MAC = 40 - 2E and MD = 2E. Draw a graph to show and calculate the following: a) What is the…

A: Marginal external damage (e) is the additional costs associated with the production of the good but…

Q: Consider the definition of open-access resources introduced this week, is a public park an…

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A: MTC (maarginal total cost)=MUC(marginal user/private cost) +MEC(Marginal Environmental cost)…

Q: Say that Laura (L), Maureen (M), and Carrie (C) are three individuals who are contemplating the…

A: A private good is a good that is rival and excludable. A private good can be provided by private…

Q: Because public goods are jointly consumed, which of the following is obtained by summing the private…

A: The public good refers to the good which satisfies two conditions: Non rival in consumption and non…

Q: Explain why the private ownership is essential to individuals, firms, and the market economy?…

A: Private goods are those goods whose consumption by one person affects the availability of another…

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Q: When should a private good be produced from an efficiency standpoint?  A.When the marginal cost…

A: Private good are those goods which are excludable and rivalrous .  Example ; food and clothing.…

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: What do you understand by externalities? Why do they have to be addressed for sustaining economic…

A: A cost or benefit accumulated or obtained by a production company that is not paid for by that…

Q: Time remaining: 00 :07 :32 Economics The figure below shows the production of microchips for…

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Q: A television broadcast of the World Series: O A. A common resource B. A private good C. A…

A: Disclaimer: Since you have asked multipart questions, we will solve the first three questions for…

Q: Econ 2200W                         Homework #1 (Ch 5 & 6)…

A:

Q: Below, you will define the terms common resource and Tragedy of the Commons. You will also determine…

A: A common resource is a good that is rival and is not excludable. For example energy is a common…

Q: Table 11-1 Consider the town of Springfield with only three residents, Sophia, Amber, and Cedric.…

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Q: The following graph (see link below) represents the market for high-emission cars. Answer the…

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

Q: Which categories of goods are rival in consumption?a. private goods and club goodsb. private goods…

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Q: The capacity of the earth’s atmosphere in absorbing carbon emission without a serious climate effect…

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Q: Examine the view that the best allocation of resources, from society’s point of view, occurs where…

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Q: What are the two essential characteristics of public goods? Choose the two characteristics that…

A: The answers are -  C. Public goods can be used by more and more people at no additional opportunity…

Q: Robert and Bruce have identical marginal private cost curves and demand curves and use the same…

A: 1) If the Robert and Bruce are not contribute to maintain the land. The marginal private cost of and…

Q: Which of the following goods could best be classified as a private good. a) An electrical grid b) A…

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Q: The following graph represents the market for high-emissions cars. Answer this question assuming…

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Q: The following table shows the marginal benefits of a pure public good that can be enjoyed by four…

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Q: 17-1 Describe the common-pool problem and summarize ways to address it

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Q: What are public goods?  Describe its two characteristics and give an example of a public good.  Why…

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Q: We recognize four types of goods, namely; private goods, public goods, club goods, and shared…

A: The goods can be classified into public goods, club goods, and common goods based on excludability…

Q: he last unit produced and traded (or the private cost to the marginal seller) in the market? 3.…

A: A negative externality is a cost which is being suffered by a third party due to a consequence of an…

Q: What is an "open access resource"? Why do open access resources often exhibit what is known as the…

A: open access asset:-  Open access asset is a decent or administration over which no property…

Q: Suppose households do not care much for better environmental quality. Use the demand & supply model…

A: To internalize the negative externalities of pollution, if the government imposes a tax then it…

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Q: Analyzing the prior graph which type of externality is this? Which line is the private and which is…

A: The figure relates to external benefit/positive externalities, external benefit when production…

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: Discuss whether or not a beach is a public good

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Q: What is an ecological footprint? Describe how natural capital is similar to a bank account.

A: NOTE: We'll answer the first question since the exact one wasn't specified. Please submit a new…