Which one of these elements of the total cost of a product are not generally taken into account, resulting in the externality: Cost to meet regulations, pay taxes, etc., per product Cost of Product (over its lifecycle) to the Cost to society that is not captured in the product price or government regulation
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- Compare and contrast the following concepts and indicate their implications: in the context of city formation, external economies of scale in production vs economies of scale in production cheggHow do the policy influencing drivers impact stakeholders' interests; particularly with regard to at-risk and vulnerable communities?Lecture: Externality - Pigou8. All-Leather is a tanning company located on Lake Michigan in Chicago. Its total cost functionis C(QA) = 125 + 8QA + 5QA2, where QA is leather production per week in thousands of pounds.a) If leather sells for $408 per thousand pounds, how much leather will All-Leather produce?How much profit does All-leather earn?Enjoy is a beverage company located on Lake Michigan near All-Leather in Chicago. Enjoy’sproduction of beverages is negatively affected by water pollution from All-Leather’s productionof leather. Enjoy’s total cost function to produce beverages isC(QE) = 10QE +3QE2 + 3QA2where QE is Enjoy’s weekly production of beverages, in thousandsof gallons and, as above, QA is All-Leather’s weekly production of leather.b) Is this an example of a pecuniary externality or a real externality? Explain.c) What is the extra cost to Enjoy from an additional thousand tons of leather production by AllLeather (i.e., the external marginal cost of an extra unit of QA…
- Define cost-benefit analysis (Select measurement and measure old cost/benefitelements upon evaluating public expenditures)When we talk about massive energy generation through more traditional methods, such as hydroelectric andthermoelectric plants, it is inevitable that we think about environmental aspects and the entire chain involved so that theenergy generated in a locality is taken to large consumer centers. Seeking to improve thisIn this context, microgrids emerged, which can act in isolation or connected to the Interconnected SystemNational. For consumers, the main advantages are medium-term savings and the issue ofenvironmental. For the distributor, the impacts of microgrids are:ALTERNATIVESa) Practically non-existent, as current equipment is energy efficient and connecteddigitally, improving the operation of the network as a whole.b) Technical and environmental, as the consumer stops buying energy from the distributor, and the generation andtransmission becomes obsolete, generating waste for the environment.c) Exclusively technical, as the consumer connects the phases and the neutral to the SIN…Discuss any two of the eight infrastructure investments prioritised bythe NDP in relation to the Sustainable Development Goals (Todaro &Smith, 2020:17). Answer the following Question:• Indicate to which degree each infrastructure investment alignswith one or more of the Sustainable Development Goals. Note: The chosen infrastrucutre investments are Transportation and sustainable cities and communities.
- Owning, operating, and maintaining an automobile carries with it private internal costs to the driver, as well as public external societal costs. List five internal and external costsShow all work. Draw graphs to explain your answers. The correct answers will include areas on the graph and dollar values. Suppose a chemical factory discharges waste products into a river resulting in significant damages to a local fishery. The marginal damage to the fishery (measured in terms of the value of lost fish stocks) is represented by the equation:MDC = 10E The chemical factory can reduce its effluent flows by treating its waste products. Its marginal abatement cost (MAC) function is given by the equation: MAC = 1,200 - 5E. What level of emissions will occur if the chemical factory is not regulated? What would the total abatement costs for the chemical factory be if emissions are controlled and reduced to zero? If no liability laws are in place, what damages will the chemical factory inflict on the fishery? (Hint: find TDC) If the government puts in place a liability law that requires the chemical factory to compensate the fishery for the damages it causes,…Identify the viewpoint (e.g., budget, governmentunit, citizen, business owner), and categorize thefollowing cash flows as a benefit, disbenefit, orcost:(a) $600,000 annual income to area businessesfrom tourism created by new freshwater reservoir/recreation area
- Please help.Answer only. Rate will be given I. Examples of implicit costs are a. Time b. Opportunity c. All of the above d. None of the above ii. The following are examples of externalities except a. Pandemic b. Low production c. Noise pollution from construction d. Air pollution from the factoryPart B C D 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…Market-based environmental policy instruments (e.g., carbon tax or tradeable permits) arecentral to national strategies aiming to mitigate environmental degradation. Choose carbon tax as your market-based environmental policy instrument.ii. Provide a formal (algebraic) evaluation of carbon tax's cost-effectiveness.