What happens in the market for a good that pollutes the air when it is manufactured if government decides to tax its production? Will this reduce the amount of air pollution?

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: Refer to the Figure. This graph represents the market for cigarettes. This market Price 34 32 30 28…

A: In a competitive market, the market forces of demand and supply of a good determine the equilibrium…

Q: what are some proms and cons of being an environmental economist?

A: Environmental economists supervise the economic analysis which is linked to environmental protection…

Q: With the help of appropriate diagrams, explain how a tax can be used to reduce the consumption of a…

A: Tax are contribution to goverment which are levied on individual as well as or a firm which are…

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: 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: A company decides to eliminate the pollution it was causing. The result was a “socially efficient…

A: Factors of production are the components used for the process of manufacturing the goods and…

Q: What makes water pollution relevant to the researchers?

A: Answer - Water Pollution - It is the contamination of water environment or water body due to direct…

Q: How the subsidies can solution the externalities problem

A: An externality is a cost or benefit of an economic activity experienced by an unrelated third party.…

Q: Why do economists care about positive externalities?

A: The externalities are the additional costs or benefits experienced by the person who is not a part…

Q: Would environmentalists favor command-and-control policies as a way to reduce pollution? Why or why…

A: The command-and-control regulation establishes particular pollution emission limitations and/or…

Q: Smokers impose negative externalities on non-smokers. Suppose the airspace in a restaurant is a…

A: If a manufacturing process has an adverse influence on unspecified third parties this is known as a…

Q: Assume there is a positive externality associated with having a tertiary education. Is the…

A: A positive externality means the due to the production of the product the society will get the…

Q: What is an externality?  How do they affect market efficiency?  If an externality is present,…

A: Externality is an economic concept that describes the costs or benefits that a third party bears…

Q: How externalities and their impact the economy? explain the negative and the positive externalities…

A: The market failure is the inefficiency caused in the market when the resources are not allocated…

Q: What causes market failure when there is marine pollution.

A: Market failure takes place when the allocation of services and items by a free market is…

Q: Was demand for its products more elastic or inelastic and why? Were consumers well informed of the…

A: ▪︎The law of demand states that as a good or service's price increases, demand for that good or…

Q: How is food justice related to environmental justice?

A: Food justice encompasses the pursuit of inclusive food systems that prioritize fairness, respect and…

Q: If allocating water through non-price means generally harms society, can you suggest why governments…

A: Governments often allocate water through non-price means for various reasons, even though it may not…

Q: What is the main rationale behind marketable pollution permits?

A: Emissions trading or cap and trade is a market-based approach that is used by government to control…

Q: what are the corrective taxes? why do economists prefer them to regulate as a way to protect the…

A: Corrective tax is the tax which is enacted for reducing the negative externality. The production of…

Q: In a country a government chooses to increase the tax on gas for $0.20 per gallon. Though the price…

A: In a country a government chooses to increase the tax on gas for $0.20 per gallon. Though the price…

Q: If all consumers became vegetarians, what impacts would this have on the meat industry and animal…

A: The equilibrium price and quantity in a market are determined by the forces of demand and supply.…

Q: What are pollution havens? How are they created or why do they exist? Why do economists think they…

A: According to the Pollution Haven Hypothesis, businesses will want to avoid the costs of strict…

Q: What assumptions do economists make? Why does each assumption matter in environmental economics?

A: Economics: It is related to the production, distribution, and consumption of goods and services.

Q: In what ways is pollution still a problem?

A: Environmental economics studies the distribution of the world's natural resources for efficient use…

Q: Let the supply and demand for widgets be given by the following schedule. Price:…

A: The equilibrium price and quantity in a market are determined by the forces of demand and supply.…

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. A company decides to eliminate the pollution it was causing. The result was a "socially efficient…

A: Factors of production are the components used for the process of manufacturing the goods and…

Q: Does an externality cause total surplus to increase or decrease?

A: Total surplus is the sum of the consumer's surplus and producer's surplus in the economy.…