ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 17, Problem 2.5P
(a)
To determine
The marginal external cost of production
(b)
To determine
If there is no regulation on externality, calculate the level produced.
(c)
To determine
The level that should be produced to achieve economic efficiency.
(d)
To determine
The net gain dollar value to the society.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
1. Supports the analysis with visual aids such as charts, graphs, or tables when applicable on global economic issue of world hunger and poverty at Nigeria country.
20
The effectiveness and efficiency of the private sector are improved through active collaboration and co-production between public sector organizations and individuals as well as public organizations.
Select one:
a. False
b. True
14 please quickly thanks !
Under-allocation of resources occurs at the output where:
A. Marginal benefit is greater than marginal cost.
B. Marginal cost is greater than average total cost
C. Marginal revenue equals to marginal cost.
D. Social cost is below private cost.
Knowledge Booster
Similar questions
- 1. Explain three factors that have constrained the growth of the agriculture sector in recent times. 2. Assess three strategies used by the government to deal with the constrains of the agriculture sector...arrow_forwardTable 10-1 Quantity (Units) Private Value (Dollars) Private Cost (Dollars) External Cost (Dollars) 1 28 16 4 2 26 18 4 3 24 20 4 4 22 22 4 5 20 24 4 6 18 26 4 7 16 28 4 Refer to Table 10-1. What is the equilibrium quantity of output in the market? Group of answer choices 3 units 2 units 5 units 4 unitsarrow_forward5 measures taken by the government of Cameroon to ensure the sustainability of minerals and energy resources in Cameroonarrow_forward
- 1. Government spending is used for the nation's defense, infrastructure, health, and _________ benefits. a. Education b. Welfare c. Safety d. Well-beingarrow_forward1. A tax imposed for the general purposes of the government to raise revenue for the local area needs. A. National B. Municipal C. Community D. Localarrow_forward5-1. You currently have an old hardwood cabinet that you want to sell. You can either pick a price and try to sell it at a yard sale or auction it off on eBay. Which method do you think will yield a higher producer surplus? Why?arrow_forward
- PQ 19 The "debt service ratio" for a country is the ration of the country's ______ to _____ a. total external debt / fross domestic product b. annual interest payment on external debt / exports of services c. annual interest payments on external debt and scdeuled annual external debt repayments / export earnings d. annual interest payment on external debt /exports of earningsarrow_forward22. What public correction would be needed to eliminate the dry loss caused by steel production? A. Subsidies to steel buyers. B. The levying of a tax on steel producers. C. Subsidies to steel producers. D. The levying of a tax on steel buyers.arrow_forward1. What characteristic of public goods makes it very difficult for private firms to provide (or provide the correct amount of) the public good? What "problem" does this characteristic lead to that generally results in the need for the government to provide the public good? Explain this "problem." 2. List 5 distinct examples of public goods.arrow_forward
- 5.21 explainarrow_forwardThe U.S. subsidizes domestic farmers to ensure that they remain profitable and continue to produce agricultural products. Explain the main argument for ensuring domestic production of agriculture products (even though domestic-produced agriculture costs buyers more than foreign-produced agriculture) and not needing to rely 100% on foreign-produced agriculture. Who are the "winners" of the farming subsidies? How do they benefit? Who are the "losers" of the farming subsidies? What does it cost them?arrow_forwardQuestion 23 Why might a tax be inefficient? a It distorts behavior, causing the marginal costs to be higher than the marginal benefits b The average cost of the tax is too high. c The tax is politically infeasible. d The tax does not collect enough revenue.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of MicroeconomicsEconomicsISBN:9781305156050Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou...EconomicsISBN:9781285165875Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Microeconomics (MindTap Course List)EconomicsISBN:9781305971493Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou...
Economics
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:Cengage Learning