Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN: 9781305971493
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 11, Problem 6PA
Subpart (a):
To determine
Private firms.
Subpart (b):
To determine
Private firms.
Subpart (c):
To determine
Private firms.
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1. How can a government encourage investment in a specific technology via the tax laws ? ( for example , information technology , sustainability , or environmental protection )
-When should a private good be produced from an efficiency standpoint?
a-When the sum of all of society’s marginal benefit exceeds the marginal cost
b-When the marginal benefit from consumption exceeds the marginal cost
c-When the marginal cost exceeds the marginal benefit from consumption
d-When the marginal cost exceeds the sum of all of society’s marginal benefit
-Suppose the government provides some amount of a public good, but it results in a reduction of private market’s production of the good by the same amount as the government produced. In this case,
a-the warm glow effect caused an increase in the net amount of the public good.
b-private provision is fully crowded out.
c-private provision is partially crowded out.
d-private provision is not crowded out.
According to this article, relate to the case “Protecting Endangered Species with Private Property Rights” in Chapter 2, discuss the key economic concepts are addressed in both articles. Explain why the private ownership is essential to individuals, firms, and the market economy? Without the protection of private ownership, what might happen to the economy?
Chapter 11 Solutions
Principles of Microeconomics (MindTap Course List)
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