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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Identify whether the market supply curve will shift right or left or will stay the same for the following:

a. Films in an industry are required to pay a fine for their carbon dioxide emissions.

b. Companies are sued for polluting the water in a river.

C. Power plants in a specific city are not required to address the impact of their air quality emissions.

d. Companies that use fracking to remove oil and gas from rock are required to clean up the damage.

a)

To determine

The market supply curve will shift right or left or will stay same in case the firms had to pay a fine for their carbon dioxide emissions.

Explanation

If the good is a necessary item and firm pays extra fine from their pocket, it would lead to no change in supply, but in a perfect competition market the firm al...

b)

To determine

The market supply curve will shift right or left or will stay same in case for polluting the water of river a company is sued.

c)

To determine

The market supply curve will shift right or left or will stay same when in a specific city the power plants are not required to address the effect of their air quality emissions.

d)

To determine

The market supply curve will shift right or left or will stay same in case the companies are required to clean up the damage caused by companies by using fracking to remove oil and gas from rock.

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