Specialized electronic batteries, such as those for laptops, are hard to dispose of safely, yielding excess pollution when one gets thrown away. Suppose that producing these batteries creates a social cost of $150 per unit. Please shift the appropriate curve(s) to reflect this social cost. 1000 900 800 Private Cost Which of the following is the label of the curve that shifted? Supply private 700 600 ST 500 400 300 200 100 0 0 Demand 1000 2000 3000 4000 5000 6000 7000 8000 Quantity of Laptops Supply social Demand private Demand social

Consider the following table, describing each person's willingness to pay for different levels (units) mosquito control. Mosquito control is a public good for this society. Demand for Mosquito Control Person A Level WTP($) Person B Person C WTP($) WTP($) 10 25 16 15 20 20 14 12 30 15 12 8. 40 10 10 6. 50 5 8 3 The marginal cost of producing one unit of mosquito control is $35 and constant. Assuming there is no Free-Rider issue, the private level of mosquito control supplied would be units. The optimal level of mosquito control however, would be units.

Chapter 10 The first government employee suggests reducing pollution through regulation. To meet the pollution goal, the government requires each firm reduce its pollution by 2 units. Complete the following table with the total cost to each firm of reducing its pollution by 2 units. Firm Total Cost of Eliminating Two Units of Pollution (Dollars) Firm A Firm B Firm C ☐☐ Method 2: Tradable Permits Meanwhile, the other employee proposes using a different strategy to achieve the government's goal of reducing pollution in the area from 1 6 units. This employee suggests that the government issue two pollution permits to each firm. For each permit a firm has in its possession, i 1 unit of pollution. Firms are free to trade pollution permits with one another (that is, buy and sell them) as long as both firms can agree on For example, if firm A agrees to sell a permit to firm B at an agreed-upon price, then firm B would end up with three permits and would nee reduce its pollution by only 1 unit…

Air horns impose many external costs on society: the risk of being deafened, the annoyance of being awakened in the middle of the night, and so on. Therefore, the market equilibrium quantity of air horns is not equal to the socially optimal quantity. The following graph shows the demand for air horns (their private value), the supply of air horns (the private cost of producing them), and the social cost of air horns, including both the private cost and external costs. Use the black point (plus symbol) to indicate the market equilibrium quantity. Next, use the purple point (diamond symbol) to indicate the socially optimal quantity.

I Price and cost (thousands of dollars per student) 20 16 12 8 0 200 A) 0 students; 400 students B) 600 students; 600 students C) 400 students; 600 students D) 600 students; 400 students E) 400 students; 400 students S = MC MSB MB 400 600 800 1,000 Quantity (students per year) 35) 35) The figure above shows the market for private elementary school education in Chicago. There is no external cost of private elementary education. If the government does not intervene in this market, the equilibrium number of students being privately educated is and the efficient quantity is

it View History s for Business - Goog X s.uts.edu.au/courses/25533/quizzes/59436/take Price of high emissions vehicles Article Link: https://bit.ly/3fbNtrF The following graph represents the market for high-emissions cars. Answer this question assuming that the externality is not internalised. O P1 O P2 O P3 PH P3 P₂ O P4 P₁ Bookmarks Profiles Tab Window Help 0 Question 8 1 Price of high emissions vehicles Quiz: Microeconomics News A X + d₁ What is the private value of the last unit traded (or the willingness to pay of the marginal buyer) in the market? Q₂ Q3 JAN Q4 S Social Value Quantity of high emissions vehicles Article Link: https://bit.ly/3fbNtrF The following graph represents the market for high-emissions cars. Answer this question assuming that the externality is not internalised. 2 pts S

Complete the following Exercises. Use complete sentences. Consider two firms who each release 10 units of pollution initially, for a total of 20 units. Their supply curves for abatement are given below. These supply curves measure the marginal cost of abatement, or the cost of cleaning up each unit of pollution. For example, it costs firm 1 $40 to clean up (or abate) the 1st unit, $80 to clean up the 2nd unit, and so forth. Supply of Abatement UnitFirm 1Firm 2 1$ 40$ 36 2$80$56 3$120$76 4$160$96 5$200$116 6$240$136 7$280$156 8$320$176 9$360$196 10$400      $216 A.) Assume that the damages from the pollution are an external cost from the standpoint of the two firms. How many units will each abate? Why?Why are their marginal costs of abatement (supply curves) rising as they eliminate more pollution (i.e., as they get closer to zero units of pollution)? Now assume the Environmental Protection Agency has determined that the desired…