Foundations of Economics, Student Value Edition (8th Edition)
8th Edition
ISBN: 9780134489230
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 10, Problem 3IAPA
To determine
To explain:
The effect of a Tacoma charge on the use of plastic bags and change in
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Figure: Three Firms That Pollute
Reference: Ref 16-3 Figure: Three Firms that Pollute
(Figure: Three Firms that Pollute) Use Figure: Three Firms That Pollute. In the figure, at what tax rate would firm C produce positive amount of pollution?
Select one:
a. $400
b. $500
c. $700
d. $200
7. Failing to correct negative externalities will create a deadweight loss. Graph it!
8. Explain how the government can discourage negative externalities. Graph it!
Explanation it correctly
In Figure 1.6, the total deadweight loss is represented by the area…
Chapter 10 Solutions
Foundations of Economics, Student Value Edition (8th Edition)
Ch. 10 - Prob. 1SPPACh. 10 - Prob. 2SPPACh. 10 - Prob. 3SPPACh. 10 - Prob. 4SPPACh. 10 - Prob. 5SPPACh. 10 - Prob. 6SPPACh. 10 - Prob. 7SPPACh. 10 - Prob. 8SPPACh. 10 - Prob. 9SPPACh. 10 - Prob. 10SPPA
Ch. 10 - Prob. 1IAPACh. 10 - Prob. 2IAPACh. 10 - Prob. 3IAPACh. 10 - Use the following information to work Problems 3...Ch. 10 - Prob. 5IAPACh. 10 - Prob. 6IAPACh. 10 - Prob. 7IAPACh. 10 - Prob. 8IAPACh. 10 - Prob. 9IAPACh. 10 - Prob. 1MCQCh. 10 - Prob. 2MCQCh. 10 - Prob. 3MCQCh. 10 - Prob. 4MCQCh. 10 - Prob. 5MCQCh. 10 - Prob. 6MCQ
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- Four films called Elm, Maple, Oak, and (Shelly, produce wooden chairs. However, they also produce a great deal of garbage (a mixture of glue, varnish, sandpaper, and wood scraps). The first row of Table 12.6 shows the total amount of garbage (in tons) that each film currently produces. The other rows of the table show the cost of reducing garbage produced by the first five tons, the second five tons, and so on. First, calculate the cost of requiring each firm to reduce the weight of its garbage by one-fourth. Now, imagine that the government issues marketable permits for the current level of garbage, but the permits will shrink the weight of allowable garbage for each film by one-fourth. What will be the result of this alternative approach to reducing pollution?arrow_forward1. regulations to limit air pollution (a) identify the market failurearrow_forwardWrite 2 wayseach to influence the demand and supply side of water management. Do you agree with the following? Why? (a)24*7 water supply is the best option for Indian cities. (b)Water should be priced at the market rate.arrow_forward
- Review and discuss the quoted example in the book• Discuss the nature of regulation and corrective tax that was imposed to rectify the act of polluting environment by the firmsarrow_forward1. Choose one of the approaches listed below for protecting elephants from poachers in African countries. A. The government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. B. The government sets up national parks and designates ten villages around the park's edges as official tourist centers that become places where tourists can stay and bases for guided tours inside the national park. 2. Depending on the approach you have chosen (A or B), explain how the incentives will affect the local villagers, who are often very poor. 3. Which approach (A or B) seems more likely to help the elephant population?4. Discuss the practice of poaching elephants and the need for environmental protection? 5. Explain how the practice of poaching elephants is a negative externality?arrow_forwardMost countries today have subsidised the provision of education. Consider an imaginary country, Gondolin. Gondolin pays a subsidy of $10 000 per year to each student enrolled in tertiary education ADDITIONAL INFORMATION Depict, with the help of a figure, the initial market for tertiary education in Gondolin, assume that: 1) education was left to the competitive free market; 2) the marginal private benefit is equal to the marginal social benefit; 3) the marginal private cost is equal to the marginal social cost. Now describe, using the help of the figure, the effect of the government subsidy on the price and quantity traded of tertiary education, where the X axis of the figure should be the quantity of students enrolled in tertiary education. You do not need to use actual numbers – focus on the direction of change in price and quantity traded caused by the subsidy. (b) Identify the area of the figure you drew in (a) that depicts the total size of the subsidy paid by the government to…arrow_forward
- The rows in Table 12.7 show three market-oriented tools for reducing pollution. The columns of the table show three complaints about command-and-control regulation. Fill in the table by stating briefly how each market-oriented tool addresses each of the three concerns.arrow_forwardClassify the following pollution-control policies as command-and-control or market incentive based. A state emissions tax on the quantity of carbon emitted by each firm. The federal government requires domestic auto companies to improve car emissions by 2020. The EPA sets national standards for water quality. A city sells permits to films that allow them to emit a specified quantity of pollution. The federal government pays fishermen to preserve salmon.arrow_forward
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