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- What is the principal question Coase posits when it comes to negative externalities? Who should be allowed to inflict harm on whom? Who is morally correct in any given argument about harm? How large is the harm caused?tidterm Exam #2 Alternative Back to Assignment Attempts 3. Keep the Highest 3/4 S. Externalities - Definition and examples An externality arises when a firm or person engages in an activity that affects the wellbeing of a third party, yet neither pays nor receives any compensation for that effect. If the Impact on the third party is adverse, it is called a extemality. The following graph shows the demand and supply curves for a good with this type of externality. The dashed drop lines on the graph reflect the market equilibrium price and quantity for this good. Adjust one or both of the curves to reflect the presence of the externality. af the social cost of producing the good is not egual to the private cost, then you should drag the supply curve to reflecet the social costs of producing the good; simiarly, f the social value of producing the pood is not equal to the private value, then you should drag the demand curve to reflect the social value of consuming the good. Supply Demand…What does Coase mean by "the reciprocal nature" of the problem of negative externalities? the avoidance of harm done by one party causes harm to that party all people hurt all other people people take turns hurting each other
- Define externalities. Also give an example of a negative externalityV1. what are the limitations of PESTEL framework analysis?Identify whether the following schenarios describe positive or negative externalites or neither. A. Negative Externalities B. Neither C. Positive Externalities 1. New city developments and roads bring traffic and pollution to your neighborhood v 2. Your friend earns a college degree, starts a new business and create jobs in your town 3. A hail storm damages your roof RAZER F10
- 1-) Can an activity generate both positive and negative externalities at the same time? Give anexample from your life and explain your answer.Externalities are a form of market failure. Identify two externalities related to Covid-19, one positive and one negative. Graph and explain how each externality affects the optimal amount of the good that is generating the externality.Explain how the effects of externalities can be remedied
- Problems and Applications Consider two types of cars: gasoline-powered cars and electric cars. Because conventional gasoline-powered cars burn fuel during their operation, people who drive gasoline-powered cars impose a externality on the society. A policy implication of this result is a those who drive gasoline-powered cars. Because electric cars help reduce greenhouse gas emissions, people who drive electric cars impose a externality on the society. A policy implication of this result is a those who drive electric cars.Give an example of a negative externality and anexample of a positive externalityExplain the difference between positive and negative externalities along with an example.