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: 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 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: Which of the following is referred to as a negative externality of smoking cigarettes?  A. the…

A: When the production or consumption of a certain good or service has an impact on a third party who…

Q: The use of gasoline creates a negative externality through air polution. What is the size of the…

A: Deadweight loss is the welfare loss i.e. the loss of the society as a whole. In the case of negative…

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: 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: Compared to a good with no externalities, a good with a negative externality will appear to have…

A: When the consequence of producing or consuming goods and services has the effect of imposing costs…

Q: song. The digital music file is an artificially scarce good. Suppose the producer charges $2.50 per…

A: Deadweight loss is an economic term that refers to the loss of economic efficiency that occurs when…

Q: olicymakers are provided data about the private and social benefits of a good being sold in the…

A: Private benefit is the benefit obtained from the consumption or production of a good by an…

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: 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: corrective (or Pigovian) tax causes deadweight loss, in the presence of a negative externality.…

A: Pigouvian Tax is imposed on market transactions, which creates negative externalities for…

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: 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: Why is something like clean air so difficult for the market to regulate effectively? Explain your…

A: Clean air will fall under the category of public good which is non-excludable and non-rival, which…

Q: Draw a supply curve and describe the external factors that determine supply.

A: supply is defined as the quantity of goods that the producers decide to sell in the market at any…

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: Use the following supply and demand graph to answer the question below. 14 Multiple Choice Quantity…

A: Socially optimal demand and supply refer to the equilibrium point in a market where the quantity of…

Q: Use the graph attached  What is the dead weight loss that results from this externality. a) QE -…

A: Deadweight loss from externality = (1/2) x (MSC - MPC) x (Market output - Efficient output)

Q: How might price controls on gasoline lead to human fatalities in an area where there is an oncoming…

A: Price control in an area leads to a problem such as shortage, rationing, deterioration of product…

Q: The use of gasoline creates a negative externality through air pollution. What is the size of the…

A: Market inefficiency, which arises when supply and demand are out of balance, results in a deadweight…

Q: ive some instances of environmental issues that the Pigovian tax can be used to resolve.

A: The Pigovian tax, also known as a corrective or environmental tax, is a market-based economic…

Q: The graph shows the marginal private benefit from a veterinary degree and the marginal cost of…

A: Marginal social benefit is the adjustment of benefits related with the utilization of an extra unit…

Q: Explain why there are no markets for public goods briefly.

A: Public goods are those goods that are provided by the government and those goods are non-excludable…

Q: There is a negative externality from Lyft rides (TRAFFIC) of $0.60 per mile. If the city still…

A: Deadweight loss is the loss that is generated when an economy operates at any point other than the…