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- Completed 17 out of 20 estion 14 of 20 > A network externality is an external cost or benefit generated from the O virtuous cycle. O production of a network good. consumption of a network good. O network effect. LAPTOP LOGIN cen PASSWORD: Browarg USERNAME: student1. Refer to the table below. Emissions (tons/month) 10 6. Marginal Abatement Cost 15 30 7 50 70 100 120 150 3 185 230 290 1 01 a) The firm faces an emissions charge of $100 per ton/month. If the fim chooses to emit 0 tons/month what is the firm's total cost? b) The firm faces an emissions charge of $100 per ton/month. At what level of emissions does the firm minimize total abatement cost? c) The firm faces an emissions charge of $100 per ton/month. What is the firm's total cost with optimal choice? d) If the firm faced an emissions charge of $150 per ton/month, at what level of emissions does the firm minimize total abatement cost? e) If a regulatory agency simply mandated that the firm could emit a maximum of 5 tons/month and there were no emission charges, what would be the firm's total cost? f) If the firm faced an abatement subsidy of $100 per ton/month, what level of emissions would a firm choose? g) If the firm faced an abatement subsidy of$100 per ton/month, what would be the…COURSE: MICROECONOMICS - TAX REGULATIONS The local diesel market is represented by Q = (912 - P)/12.5 and Q = (P - 315)/11where P is in dollars (USD) per liter of fuel and Q shows liters of fuel (in millions). Currently a tax of USD 130 per liter of diesel is charged.It is requested:(a) Calculate the amount (Q) that is transacted after the tax has been applied. Already solve few hours agob) Show in detail the calculations of a). Is there any difference between the price observed by suppliers and demanders? If so, what is the price observed by the producer and what is the price observed by the consumer? how much is the government's revenue? If there is an efficiency loss, how much is it? Already solve few hours agoc) At present, there are arguments in favor of increasing the tax on diesel and others in favor of decreasing it (at least temporarily). Mention at least ONE argument in favor of increasing this tax and ANOTHER argument in favor of decreasing it. And finally, conclude in…
- COURSE: MICROECONOMICS - TAX REGULATIONS The local diesel market is represented by Q = (912 - P)/12.5 and Q = (P - 315)/11where P is in dollars (USD) per liter of fuel and Q shows liters of fuel (in millions). Currently a tax of USD 130 per liter of diesel is charged.It is requested:(a) Calculate the amount (Q) that is transacted after the tax has been applied.b) Show in detail the calculations of a). Is there any difference between the price observed by suppliers and demanders? If so, what is the price observed by the producer and what is the price observed by the consumer? how much is the government's revenue? If there is an efficiency loss, how much is it? GRAPHc) At present, there are arguments in favor of increasing the tax on diesel and others in favor of decreasing it (at least temporarily). Mention at least ONE argument in favor of increasing this tax and ANOTHER argument in favor of decreasing it. And finally, conclude in favor of which argument you are in favor of.ADVANCED ANALYSIS Apply the formula for the area of a triangle (Area 2 x Base x Height) to answer the following questions. i (a) (b) Efficiency loss from underproduction Efficiency loss from overproduction a $85 $85 $59 $55 $45 $45 $35 $31 g D $5 $5 C 15 20 20 27 Quantity (bags) Quantity (bags) Price (per bag) Price (per bag)Computer models of global climate changecaused by increasing carbon dioxide in the atmosphere predictnot only higher overall temperatures, but also more intense andfrequent heat waves. During the devastating European heatwave in the summer of 2003, between 35,000 and 52,000“excess deaths” occurred. Before taking specific actions toreduce carbon dioxide emissions, economists and politicians tryto estimate the costs. Should excess deaths be included as acost of inaction? If so, what value should we place on a life?
- A customer has purchased one pack of 100 pairs of disposable face masks. The price of the second pack is $45, and the burer estitnated its net benefit from buying this second pack to exceed $50 What should the buyer do? Select one O a The buyer should not buy the second pack as buying the second packiwitl increase total benetts by less than total costs b. The buyer should not buy the second pack as buying the second pack will increase total benefits by more than total costs OC The buyer should buy the second pack because the marginal beneft of the second packit so igh that ts marginat cost does not mater umy more d. The buyer should buy the second pack because the marginal benefit of the second pack exceeds the marginal cost0.90 0.85 0.80 0.75 0.70 0.65 0.60 0.55 0.50 0.45 0.40 50 100 150 200 250 300 What kind of externality is in the market above? O a. negative production externality O b. positive consumption externality O c. negative consumption externality O d. positive production externality Demand 350 Supply MSB 400Firm 11 2 Initial Pollution Level 3 100 200 $20 $40 Above is tabulated the pollution level in tons for three different manufacturing firms, as well as their cost per ton of reducing pollution. The government has decided to limit total pollution to 300 tons, and distribute to each firm 100 permits, each allowing the firm to emit 1 ton of the pollutant. By how much would the total cost of the pollution reduction initiative be reduced if the firms are allowed to trade their permits, as opposed to not letting them trade them? Cost of Reducing Pollution by 1 Unit $10 300
- 0 Figure 4 PRICE (Dollars per unit) 9.00 8.40 6.21 4.50 Social Cost Supply 48 60 76 100 QUANTITY (Units of tobacco) O $6.21 and 76 units, respectively. O $9.00 and 60 units, respectively. O $8.40 and 48 units, respectively. O $4.50 and 100 units, respectively. Demand Refer to Figure 4. This graph represents the tobacco industry. The socially optimal price and quantity are500 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 PriceDefine (a) externalities and (b) sunk costs, andthen give examples of each that might be involvedin a proposal by an energy company to build anew coal-fired electric power generating unit. Howwould these factors be worked into the analysis?