Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 14, Problem 9SQ
To determine
The after effect of environmental actions on soviet union.
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GOSI shopping complex has 100 stores all rented to communication shops and concerned about security. The table below shows the total costs of hiring security guards to ensure safety of customers and protect storeowners from being vandalized. The table also shows the marginal benefit to each one of the shops.
Number of
Total cost
Marginal benefit for each shop
Marginal benefit for all shops
1
300
10
2
600
4
3
900
2
4
1200
1
Explain why a security guard a public good for the shop owners at GOSI?
If each shop owners act individually why zero guards will be hired
Fill in the missing information in the last column in the table.
The satisfaction that an individual gain after consuming a cold Orange Juice on a hot day describes *
a.Public benefit
b.private benefit
c.external benefit
d.social benefit
If it costs Levy $1.50 to prepare a burrito, that would reflect it's:
a.social cost
b.external cost
c.private cost
d.Public cost
As a result of the COVID19 pandemic, the Government will be opening a pre-school in Back-A- Town area, and subsidizing the cost. The reason for this is because the government is of the opinion that pre-school education is: *
a.Underpriced
b.Overproduced
c.Under-produced
d.Over-produced
Full funding of tertiary level education is an example of a government: *
a.Tariff
b.Tax
c.Subsidy
d.Loan
Property rights problems and the tragedy of the commons are most prevalent for which resource examples?
a.
Minerals.
b.
Private Forests
c.
Free access public lands
d.
Pollution with well-functioning cap-and-trade
e.
Private land.
Chapter 14 Solutions
Micro Economics For Today
Ch. 14.2 - Prob. 1.1GECh. 14.2 - Prob. 1.2GECh. 14.2 - Prob. 1.3GECh. 14.2 - Prob. 2.1GECh. 14.2 - Prob. 2.2GECh. 14.2 - Prob. 2.3GECh. 14.2 - Prob. 2.4GECh. 14 - Prob. 1SQPCh. 14 - Prob. 2SQPCh. 14 - Prob. 3SQP
Ch. 14 - Prob. 4SQPCh. 14 - Prob. 5SQPCh. 14 - Prob. 6SQPCh. 14 - Prob. 7SQPCh. 14 - California once proposed legislation that would...Ch. 14 - Prob. 9SQPCh. 14 - Prob. 10SQPCh. 14 - Prob. 11SQPCh. 14 - Prob. 12SQPCh. 14 - Prob. 13SQPCh. 14 - Prob. 14SQPCh. 14 - Prob. 15SQPCh. 14 - Prob. 16SQPCh. 14 - Prob. 1SQCh. 14 - Prob. 2SQCh. 14 - Prob. 3SQCh. 14 - Prob. 4SQCh. 14 - The perfectly competitive profit-maximizing firm...Ch. 14 - Prob. 6SQCh. 14 - Prob. 7SQCh. 14 - Prob. 8SQCh. 14 - Prob. 9SQCh. 14 - Prob. 10SQCh. 14 - Prob. 11SQCh. 14 - Prob. 12SQCh. 14 - Prob. 13SQCh. 14 - Prob. 14SQCh. 14 - Prob. 15SQCh. 14 - Prob. 16SQCh. 14 - Prob. 17SQCh. 14 - Prob. 18SQCh. 14 - Prob. 19SQCh. 14 - Prob. 20SQ
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From an economic perspective, is it sound policy to pursue a goal of zero pollution? Why or why not?
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How can high-income countries benefit from covering much of the cost of reducing pollution created by low-income countries?
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Name 5 public goods and explain why they are public goods.
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The most efficient way to get firms to reduce pollution is to A set a uniform emissions standard and require all firms to meet the standards B make the worst polluters shut down and go out of businesses C make them pay for the social cost of production and let them decide how to respond to the higher costs D Provide firms and consumers with the information about the effects of their actions and encourage them to behave responsibly
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely
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What are public goods ? State few examples of public goods.
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Identify the characteristics of a public good.
a. Why do public goods exist?
b. What is the problem that comes about due to public goods?
c. Which of the following are public goods: parks, police services, welfare payments to the poor, production of energy, space exploration?
d. Briefly describe how the free rider problem can be overcome.
e. Briefly explain why markets often have a difficult time producing public goods.
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What type of market failure would you categorize marine pollution?
b. Base on the question above, discuss why the type of market failure occur.
c. Suggest two relevant Government policies that would yeild the efficient outcome and explain the process through which the implementation of the policies will lead to optimal out come.
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Give an example of a public good and how the free rider problem (causes air pollution) emanates from it. Explain.
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A large supermarket applied to build on land which was in an area of natural beauty. The local
government allowed the building, even though the natural beauty of the area would be lost,
because many jobs would be created and much needed income would be brought to the local
community.
Which economic ideas cannot be found in the above statement?
A external cost and private enterprise
B free market and the conservation of resources
C opportunity cost and improved standards of living
D public sector and external benefit
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1. Discuss how pollution violates the justice or fairness that characterizes a competitive free market.
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Economics
A fireworks competition is happening in Sydney this November. An entrance fee of $8.00 is required for spectators who want to have a great view of the competition. However, residences near the competition can also watch the firework displays even without paying for the $8.00 entrance fee.
1. Fireworks display is considered a common good.
2. Fireworks display is non-excludable and non-rivalrous.
3. Fireworks display is non-rivalrous but excludable.
Which of the above statements are true?
Only 1 is true.
Only 2 is true.
Only 3 is true.
Both 1 and 2 are true.
Both 1 and 3 are true.
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Marketable permits work best when..:
A. They are mandated by the federal government.
B. Four or five thousand parties are interested in trading.
C . A few dozen or a few hundred parties are highly interested in trading.
D. Five firms are polluting and are willing to trade pollution permits.
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