The following graph presents the marginal cost and marginal benefit information for tons of steel produced. If the external costs re ignored the market equilibrium quantity will be and the market equilibrium price will be a b Question 21 C d Price per Ton 500- 400- 300- 600- 200- 500; 225 600; 210 700; 195 800; 220 100 0- 0 elected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. 200 400 Steel Production 600 800 Tons of Steel Social Marginal Cost Private Marginal Cost Private Marginal Benefit 1000 1200 1400 1600

0.9 Price 0.8 0.7 0.6 oo 0.5 0.4 öö 0.3 0.2- 0.1 0 0 1000 2000 3000 4000 5000 6000 7000 8000 Quantity What's the marginal value at a quantity of 4,000? Answer here 000 ← PREVIOUS O Submission arget due: 3/1/23 25% Status: Completed, Below passing score APR 13 F7 átv F8 DD F9

1. Suppose that a polluting activity has marginal damage and marginal abatement costs given by MD=2E and MAC = 210 - 3E, respectively. Suppose that the polluter(s) are held liable for damages. (a) What level of emissions will be chosen by polluters. (b) Compute the amount of damages (compensation) that will be paid by polluters and the total of all costs paid by polluters. (c) Compute the social gains from instituting legal liability, relative to the no-abatement outcome.

when left the treat environment as if it has no value the polluters in region release collective 500 tons of pollutant per year. The damages from this pollutant are MD=10e while aggregate abatement cost is MAC=10+5a. Calculate; A)efficient aggregate levels of abatement and emissions B)use calculations to show that a one ton increase or decrease in emissions would not be efficient

500 450 The graph on the right may help in answering question 25 400 350 300 250 200 150 100 50 O 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 Quantity Demand MC Exter nality MC private MC Social A competitive tire manufacturing industry spews emissions into the air at47 per tire a marginal cost of 1.5-q, where q is the quantity of tires produced per month (in thousands). The industry marginal cost, excluding the cost of emissions (private marginal cost), is 4 + 4•q, expressed in $ per tire. The inverse demand curve for tires is p = 480 - 3-q, also expressed in $ per tire. In order to achieve the socially efficient level of tire production, which takes into account the optimal level of air pollution, the government levies a tax on the industry. What is the efficient pollution tax? $84 per tire $101 per tire $152 per tire Price

$ MAC 69 0 K A. The total benefit of that decision is represented by area(s) B. The total cost of that decision is represented by area(s) M Suppose that emissions were to decrease from the unregulated level to the optimal level. C. The net benefit of that decision is represented by area(s) MD ◆ e ◆

What is the importance of the enforcement private property rights as it relates to the mitigation of market failure & supporting conservation ?

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What is the meaning of the term ‘the tragedy of the commons’? Discuss examples of ‘tragedy of the commons’ type ecological problems in relation to your own living or working environment, or in relation to the impact of business in general. (300 words please) Please show evidence, and Intext citations * Quality written pleass!*

Price and cost (dollars per ton of steel) 250+ 200 150 100 50 2 MSC S = MC D=MSB 10 4 6 8 Quantity (tons of steel per week) 29) The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. There is a marginal external of A) cost; $100 B) benefit; $100 D) cost; $200 per ton. C) benefit; $200