The figure below shows the MWTP ($ per year) to lower indoor carbon monoxide of 3 students living in the same house. The socially-efficient level of carbon monoxide concentration is ppm.
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- How can high-income countries benefit from covering much of the cost of reducing pollution created by low-income countries?A city currently emits 15 million gallons (MG) of raw sewage into a lake that is beside the city. Table 12.13 shows the total costs (TC) in thousands of dollars of cleaning up the sewage to different levels, together with the total benefits (TB) of doing so. Benefits include environmental, recreational, health, and industrial benefits. Using the information in Table 12.13 calculate the marginal costs and marginal benefits of reducing sewage emissions for this City. What is the optimal level of sewage for this city? How can you tell?Is zero pollution an optimal goal? Way or why not?
- 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?Assume that the marginal private costs of a film producing fuel-efficient can; is greater than the marginal social costs. Assume that the marginal private benefits of a firm producing fuel efficient cars are the same as the marginal social benefits. Discuss one wags.r that the government cans fly to increase production and sales of fuel efficient cars to the socially desirable amount. Hint: the government is flying to affect production through costs, net benefits.Econ Return to Activity Score Mentor Mega Beans Market Booming Berries Booming Berries Materials Mark, if the external marginal cost from Booming Berries is $20 per thousand pounds, what is the socially efficient price per pound? 130 Booming Berrles 120 Clare 110 100 $70 90 80 70 Mark 60 That is correct! 50 40 30 Econ 20 Mentor 10 Mark, if the external marginal cost from Booming Berries is $20 per thousand pounds, what is the socially efficient quantity (in thousands)? 10 20 30 40 50 60 70 80 90 100 110 120 Quantity (in thousands) Clare Enter a response then click Submit below (in thousands) Submit MacBook Air F12 FI1 F9 F10 F8 F7 F6 888 F4 F5 F3 F2 esc F1 * & 24 % 8 @ # 7 3 4 2 T E Q tab Price (per pound)
- Crop loss per additional steer Number in herd Annual crop loss (Steers) (Tons) (Tons) 1 1 3 2 3 4 10 4 The cost of crop damage is $1/ton. The cattle rancher is able to sell the meat from each steer for $3.5. What is the socially efficient number of steers? [Select) If the rancher is liable for crop damages, will the rancher raise the efficient number of steers? [ Select ] If there are no transaction costs, and the rancher is not liable for crop damages, will they raise the efficient number of steers? [Select) The point of Coase's analysis here is that if the pricing system functions without transaction costs, I Select)uestion 25/28 > NEXT A BOOKMARK Public Goods are used by all members of society, but sometimes they are overused and lead to things like air pollution, overcrowded schools, and congested roads. These things are known as Negative Externalities B Positiv Externalities Free Riders DConsequences DELL 女 esc -> ! #3 $4 & 1 4. 6. 7 W e r t y f h k a S n X C O O O OHow can we measure production related benefits of reducing pollution or environmental improvement?
- Why is the presentaion of corparate results increasingly accompanied by the presentation of a socially responsible bussines report. Provide 3 reasonsHectares of Park 1 2 3 Figure 4.7 Willingness to pay for a Public Park 5 Consumer Group 1 Refer to Figure 4.7. As MWTP increases; increases declines; declines declines; increases the table does yield enough information MWTP $6 $4 $2 $0 $0 total willingness to pay. Consumer Group 2 MWTP $6 $5 $4 $3 $234. what are some proms and cons of being an environmental economist?
