Negative externality of a bear obtaining human food.

Question

Want to see the full answer?

Answer 1

Question

Chapter 5, Problem 5.1.7PA

To determine

Negative externality of a bear obtaining human food.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Three roommates, Alan, Billy and Casey, are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch. Table below indicates their willingness to pay for each movie: 1st movie 2nd movie 3rd movie 4th movie 5th movie Alan $20 $10 $0 $0 $0 Billy $30 $20 $10 $0 $0 Casey $50 $40 $30 $20 $10 Explain why some people believe that the showing of a movie within the dorm room is a public good.

From the book: Omnivore's Dilemma, chapters 9-12 for a discussion board A) In an economic transaction between a producer and a consumer, an externalized cost or (negative) externality is a cost to someone who is not involved in the transaction. For example, the consumer doesn't pay for it, and the producer doesn't pay for it. Joel Salatin alludes to this concept when he talks about food that is not “honest.” List three externalized costs associated with food production (and consumption), and try to identify the third part(ies) likely to pay for each. Which cost on your list concerns you the most?

The graph above shows the market for paper. The marginal social cost is higher than the marginal private cost A)since the marginal social cost includes all the costs of production, including the value of the externality B)since the marginal private cost includes all the costs of production, including the value of the externality C)because there is no externality in this market D)because for each level of production the social cost is less than the private cost