Does the following activity or event create an extemality? If it does, is it an external benefit or external cost and does it arise from production or consumption? An increase in the number of people who are studying for graduate degrees creates Airplanes taking off from LaGuardia Airport during the US. Open tennis tournament nearby create, A sunset over the Pacific Ocean creates OA an external cost arising from production; no externality OB. an external benefit arising from consumption; an external benefit arising from consumption OC. an external cost arising from consumption; no externality OD. an external benefit arising from production; an external benefit arising from consumption A person who wears strong perfume to class creates OA. an external benefit arising from production: an external cost arising from production OB. an external cost arising from consumption an external benefit arising from consumption an external cost arising from production: an external benefit arising from production OC. OD. an external benefit arising from consumption: an external cost arising from consumption

Does the following activity or event create an extemality? If it does, is it an external benefit or external cost and does it arise from production or consumption? An increase in the number of people who are studying for graduate degrees creates Airplanes taking off from LaGuardia Airport during the US. Open tennis tournament nearby create, A sunset over the Pacific Ocean creates OA an external cost arising from production; no externality OB. an external benefit arising from consumption; an external benefit arising from consumption OC. an external cost arising from consumption; no externality OD. an external benefit arising from production; an external benefit arising from consumption A person who wears strong perfume to class creates OA. an external benefit arising from production: an external cost arising from production OB. an external cost arising from consumption an external benefit arising from consumption an external cost arising from production: an external benefit arising from production OC. OD. an external benefit arising from consumption: an external cost arising from consumption

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 10SCQ: Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table 12.8 shows the...

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Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table 12.8 shows the total costs of cleaning up the sewage to different levels, together with the total benefits of doing so. (Benefits include environmental, recreational, health, and industrial benefits.) Using the information in Table 12.8, calculate the marginal costs and marginal benefits of reducing sewage emissions for this city. See Production, Costs and Industry Structure if you need a refresher on how to calculate marginal costs. What is the optimal level of sewage for this city? Why not just pass a law that films can emit zero sewage? After all, the total benefits of zero emissions exceed the total costs.
A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwoods forest and grow com, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table 12.11 shows possible combinations of economic output and environmental protection. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between T and R, decide which one is better. Why? In the choice between T and S, can you say which one is better, and why? If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice Q or S? Why?
Which of these activities will most likely impose an external cost? A. An athlete works out at a gym. B. A postal worker smokes a cigarette in a crowded break room. C. A young father pushes his baby in a stroller. D. A construction worker eats a hotdog during her lunch break.
ASAP plz Why don't people/stores make different decisions? Cost is a factor: a case of foam take-out containers costs $25, compared with $58 for paper and recyclable-plastics. How does this affect the firm's profit? Are consumers willing to pay more? Negative externality Consider the demand and supply given above. Suppose there is an external cost given by MEC=5Q. Find social equilibrium price and quantity. Draw a graph and label both private and social equilibrium.
Which of the following statements about external costs is TRUE? A Economics uses the term "external cost" to describe a spillover effect from market activity that is too small to matter to society. B C D Economics ignores the environmental impact of market activities by calling such impact an "external cost.” Economics does not provide guidance for environmental policy since its treats any environmental cost as an "external cost". None of the above statements are true.
Consider the network effects of delivery service by drones in Rwanda. Identify the best example of a positive external benefit generated as new customers use the drone delivery service. As demand increases for delivery service by drones, a.a wider variety of products may be delivered by drone. b.highways may be built to service remote locations. c.social networks may also grow in popularity in Rwanda. d.goods may be damaged during delivery.
Refer to Figure. The graph represents a market in which 24 22 22 Price 18 16 81 Social cost (private cost and external cost) Supply (private cost) Demand (private valne) 120 160 Quantity a. Othere is no externality. b. Othere is a positive externality. c. Othere is a negative externality. d. The answer cannot be determined from inspection of the graph.
Which of the following is an example of an externality? (x) cigarette smoke that permeates an entire restaurant (y) a flu shot that prevents a student from transmitting the virus to her roommate (z) a beautiful flower garden outside of the local post office Select one or more: a. (x), (y) and (z) b. (x) and (y) only c. (x) and (z) only d. (y) and (z) only e. (y) only
Consider the decision to adopt a dog. Describe aprivate cost, a private benefit, an external cost, andan external benefit that result from your decisionto adopt a dog.
Examples of external scale economies include A. Hollywood filmmaking B. All of the other alternatives c. Silicon Valley OD. Automobile manufacturing
The “tragedy of the commons” is most likely to occur with which one of the following goods? Question 12Select one: a. A national forest b. A mineral ore deposit c. A public highway d. A city park e. A groundwater aquifer
Fish that swim in international waters are a common good that are freely available toanyone who wants to catch them, but this leads to the problem of over-fishing. At theheart of this problem lies an externality. Using appropriate diagrams andaccompanying discussion, show both how and why this over-fishing takes place. Inyour explanation, identify the source of the externality.