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- Price $18 $14 $12 $40 50 $55 70 Se social Dinternal Quantity How much is the deadweight loss caused by this externality? SinternalWhat is targedy of commons?warten population manghe ecosystem's Carrying capacity? 6. We have the following data for Demand Price and Costs for our product. Quantity Demand Price Costs 300 100 $21.63 $35.35 $5040.00 $2347.67 500 $17.25 $7481.67 1000 $12.70 $12469.67 1500 $10.26 $16196.00 We have reason to believe that the Demand Price is a power (exponential) function of some kind. Our Cost function is close to linear, but we expect, from some market analysis, that it is in fact quadratic. Approximate this data with a Demand Price function and a Cost function. Explain how confident you are; that is, how much error do you think is reasonable in this type of scenario? 区
- The table below shows the demand for pollution permits to emit hydrocarbons in a particular industrial park. Each permit allows the owner to release one tonne of pollutants into the atmosphere. Price perPollution Permit Quantity of Permits $4,500 75 4,000 150 3,500 225 3,000 300 2,500 375 2,000 450 1,500 525 a. If no fee for a pollution permit were charged, how many tonnes of pollutants would be discharged into the atmosphere, assuming a straight-line demand curve? Quantity: tonnesb. Suppose government were to set a fee of $3,500 per pollution permit. How many tonnes of pollutants would now be dumped? What is the total revenue received by government? Quantity: tonnes Total revenue: $ c. Suppose that a new technology allows for a significant reduction in hydrocarbons at a relatively low cost so that the demand for pollution permits in the industrial park drops by 150 tonnes. Assuming that government holds the permit fee at $3,500, how many tonnes of…The use of gasoline creates a negative externality through air pollution. What is the size of the deadweight loss (DWL) caused by the externality? Select ALL letters that are part of the DWL Priake 200 OACommun U ASTRAL15963907 Su Home | Shöreline C E D Multiple Choice O Quantity Refer to the provided supply and demand graph for a product. In the graph, line S is the current supply of this product, while line St is the optimal supply from the society's perspective. One solution to this externality problem is to give consumers a subsidy of the amount FG per unit. tax producers by the amount DE per unit. give producers a subsidy of the amount AB per unit tax consumers by the amount EF per unit Seved Save
- The use of gasoline creates a negative externality through air pollution. What is the size of the deadweight loss (DWL) caused by the externality? Select ALL letters that are part of the DWL Priate 700 OA OHper unit $P $24 $22 $20 $17 $13 0 Area "abd" Area "efad" Area "efbc" e b O Area "abcd" O Area "abc" C d a 50 70 Use the graph above (note: the graph may be different than the previous question). If the market is producing at 50 units, what area corresponds to the deadweight loss in the market? social MC Private MC private MB # of units O There is no deadweight loss when producing at that quantity.what is the consequences of companies that pollute and the externalitiesthey create both private, public and social.....Please explain this
- Price A D either C or D B O с A B Din internal When a negative externality exists and the government does not intervene, which point best identifies the market equilibrium? Ssocial Sinternal D social QuantityFigure 10-1 Social Cost Supply 3.00 2.80 2.07 1.50 Demand 24 30 38 50 QUANTITY (Units oftobacco) Refer to Figure 10-1. This graph represents the tobacco industry. The industry creates O a. positive externalities. O b.no equilibrium isthe market. OC. negative externalities. O'd.no externalities. PRICE (Dollars per unit)This graph represents the tobacco industry. IPrice 16 14 Social Cost 12 10 Private Cost 8 6 4 Demand 200 500 650 Quantity a) Without any government intervention, what is the market determined price and quantity? b) What is the price of the externality? c) What is the socially optimal price and quantity? d) What should the government do (impose a tax or provide a subsidy) to internalize this externality? What is the amount of the the corrective tax/subsidy needed to be to move the outcome from the market equilibrium to the socially-optimal outcome?