Was demand for its products more elastic or inelastic and why? Were consumers well informed of the negative externalities?

Q: e the nature of t

A: An externality is a cost or benefit being caused by a producer which is not either financially…

Q: a) Would you expect a black market in wristwatches to arise because of this price floor? Who would…

A: PRICE FLOOR -It occurs when the price charged exceeds or falls below the equilibrium due to demand…

Q: The optimal level of output can be achieved by levying a tax on a company producing a negative…

A: Negative externality occurs when production and consumption resulted into a negative effect on the…

Q: The following graph provides a stylised representation of the effects of the policy proposed by the…

A: The market equilibrium occurs at the intersection point of initial supply (S1) and demand curve (D).…

Q: What is an example of a market that govenrments should not tax for economic reasons?

A: Taxes are the economic instruments given at the hands of the government. Taxes work as revenue for…

Q: What are the effects of government intervention in the market?

A: Government intervention in the market is very necessary as it leads to efficiency in the market…

Q: Describe one way the government might impact the Dairy products industry with price controls,…

A: Price control - This can be implemented in different ways such as price floors or ceilings which…

Q: Efficiency in the presence of externalities

A: Efficiency cannot be achieved in the presence of externalities. Because in externalities someone is…

Q: What are Externalities? What some strategies the Government may use to address both positive and…

A: An externality refers to the unintended cost or benefit of an economic activity on a third party…

Q: How market equilibrium is found with Pollution Abatement Subsidy?

A: The equilibrium in market is determined where the social marginal cost is equal to the social…

Q: O wipe and clean your hands, which prevents the spread of germs to others. If the government e to…

A: A subsidy can be described as support given by the government of the country or can be provided by…

Q: What difficulties occur when government attempts to use Pigouvian Taxes/Subsidies to address…

A: Pigouvian taxes are theoretically the taxes to be imposed on economic activities resulting in…

Q: Choose correct option.  Q)The adoption of Qwerty keyboard over Dvorak is a result of , a) History…

A: The QWERTY was created to resolve the problem of the type-bar getting intertwined due to hitting two…

Q: How would the owner respond to the negative externality caused by smokers?

A: Extranlity is defined as an external effect on others when one consumes or produces something.

Q: What impact would child immuniation intervention have on demand and consumer behavior in the long…

A: The use of vaccines in preventing childhood from infectious diseases, known as child immunization…

Q: S. Externalities - Definition and examples An externality arises when a firm or person engages in an…

A: The externality arises when any other third party is affected because of the production of the goods…

Q: Which school subjects would have have use for when being a environmental economist?

A: The environmental economics would be the field of social science which would result in the…

Q: Discuss negative externality its causes and possible solutions

A: Negative Externalities refers to the cost of consuming a good borne by the third party who is not…

Q: TRUE OR FALSE *if the coefficient of elasticity is greater that zero and less than one, then the…

A: Elasticity is defined as a measure to determine how sensitive an economic factor is to another…

Q: Early studies in the 1960s found that students who ate a hot breakfast before they came to class…

A: A) positive position exists if the gathering and utilization of a good or administration benefit an…

Q: How has elasticity affected decision making in natural resources management

A: Decision-making in the context of price elasticity  Businesses and the government both use the…

Q: A pharmaceutical company develops a vaccine against malaria, a disease that kills large numbers of…

A: In a given scenario, a firm is producing the vaccine for malaria and its activity is affecting the…

Q: Can you think of a reason why making cars safer would create negative externalities?

A: Negative externalities happen when production and consumption place external costs on non-market…

Q: (1) Explain the Determinants of Demand and Supply integrating outside source examples.

A: Demand is the total demand of goods and services demanded by the people in the economy. Demand curve…

Q: A Las Vegas supermarket bakery must decide how many wedding cakes to prepare for the upcoming…

A: a. According to the given information: The calculation of number of spares to order:

Q: Which of the following is likely to generate a negative externality? O Planting a tree O Working for…

A: Negative externality: A cost incurred by a third party as a result of an economic transaction that…

Q: Give an example of a negative externality that you have witnessed or are personally aware of. Who is…

A: One day, one of my neighbors was smoking in a public park with kids around. His smoking was…

Q: Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that…

A: External costs and benefits or externalities  are the harmful/ beneficial side effects arise out of…

Q: Quantity efer to the provided supply and demand graph for a product. In the graph, line One solution…

A: Negative externality is an imperfect market situation where the socially desirable cost, price and…

Q: Wally's World of Widgets hires you as their full-time economist. After studying their business, you…

A: Alfred Marshall is well-known for the work, "Principles of Economics." Marshall pioneered the…

Q: When a negative externality exists and the government does not intervene, which point best…

A: When economic operations have unforeseen and frequently detrimental side effects on those not…

Q: How dose oil prices affect the demand of Marine shipping companies

A: Assuming that oil is an input used in shipping services because ships run on oil. Then here shipping…

Q: Why does the US government feel that the use of illicit drugs such as cocaine and opium (morphine)…

A: The government uses fiscal policy to increase employment and investment by increasing the aggregate…

Q: Explain, with an aid of an example, the pecuniary externalities

A: (Q) Explain, with an aid of an example, the pecuniary externalities.

Q: Identify whether the following schenarios describe positive or negative externalites or neither. A.…

A: Externality can be of 2 types: positive externality and negative externality depending upon their…

Q: It is the custom for paper mills located alongside the Layzee River to discharge waste products into…

A: Answer: Correct option: (B) the supply of the output from the hydroelectric power plants increase…

Q: Which of the following creates a negative externality? a. Texting while driving. b. New safety…

A: Externality refers to the cost or benefit that impact a third party that is not directly involve in…

Q: Why do firms pollute

A: The firms pollution would result in the reflection of the adverse effect on the society. The…

Q: draw a graph of a product without any externality

A: An adverse effect or result of a certain economic operation or transaction that has an impact on…

Q: business of transactions that result in positive externalities

A: I'll explain the question to my best understanding. If there is any confusion, kindly ask in follow…

Q: Identify a negative externality

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: Price Ssocial Sinternal в $7.00 $6.00 $5.00 $4.00 D Dinternal 3,000 3,500 Quantity In the market…

A: Negative externality occurs when the actions of producers create external costs for society.