glue factory and a steel mill emit smoke containing a chemical that is harmful if inhaled in large amounts. Describe three ways the town government might respond to this externality. What are the pros and cons of each solution

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What are commons and public goods? Provide any two examples of such goods.

Price per gallon Quantity demanded (gallons) Quantity supplied (gallons) 1 700 300 2 600 400 3 500 500 4 400 600 5 300 700 6 200 800 7 100 900 8 0 1000     The market equilibrium quantity in the market for automobile antifreeze is ______ . If the external costs per gallon of antifreeze is $2, the socially optimal quantity of antifreeze is _________ .

A positive externality arises when a third party, outside the market transaction, fails to allocate resources efficiently Pays less for the good or service benefits from a market transaction pays a pollution tax to balance social costs

Macmillan Learning Incorrect An externality is defined as: the effect of an activity undertaken outside a building rather than inside a building. an effect of market activity that impacts the opposite side of the market from the side whose decision caused the effect. a side effect of an activity that affects bystanders whose interests are not taken into account. the impact of an activity on buyers and sellers in the market where the activity takes place.

Please draw and upload an externality graph for the "Truck Tire" market in the US. Use the data provided to draw each axis, plot the points and create the following curves: 1) Demand, 2) Supply (private), and 3) Supply (social), Also mark equilibrium on both S (private)and S (social). After you draw the curve, explain it and describe how government can use it to regulate this tire market.        Price Quantity Demanded Quantity Supplied (Private) Quantity Supplied (Social)   $ 300 $10 million $ 35 million $ 30 million   $ 250 $15 million $30 million $25 million   $ 200 $20 million $25 million $20 million   $150 $25 million $20 million $15 million   $ 100 30 million 15 million 10 million

A market with positive externalities will tend to _____ compared to a market producing the socially optimal output. Select one: a. produce the optimal quantity. b. produce too few c. produce too many  d. randomly produce some quantity

Using the demand and supply diagram, and an example, describe and discuss positive externality in the production of a product/service.