Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 11, Problem 3IAPA
To determine
To explain:
The outcome of the election.
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Please indicate which of the following is or is not a public good:
1. A public swimming pool at the local recreation center.
2. TikTok videos.
3. Any good that has positive externalities.
4. The children's play area at your local mall.
1. Choose one of the approaches listed below for protecting elephants from poachers in African countries. A. The government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. B. The government sets up national parks and designates ten villages around the park's edges as official tourist centers that become places where tourists can stay and bases for guided tours inside the national park.
2. Depending on the approach you have chosen (A or B), explain how the incentives will affect the local villagers, who are often very poor. 3. Which approach (A or B) seems more likely to help the elephant population?4. Discuss the practice of poaching elephants and the need for environmental protection? 5. Explain how the practice of poaching elephants is a negative externality?
Give typing answer with explanation and conclusion
Which of the following policies could help the government achieve the efficient outcome?
Check all that apply.
Implement tradable pollution permits
Offer a subsidy equal to the price at the efficient outcome
Offer a subsidy to consumers equal to the vertical distance between the marginal private benefit curve and the marginal social benefit curve
Offer a subsidy to producers equal to the vertical distance between the marginal private benefit curve and marginal social benefit curve
Introduce emission taxes
Chapter 11 Solutions
Foundations of Economics (8th Edition)
Ch. 11 - Prob. 1SPPACh. 11 - Prob. 2SPPACh. 11 - Prob. 3SPPACh. 11 - Prob. 4SPPACh. 11 - Prob. 5SPPACh. 11 - Prob. 6SPPACh. 11 - Prob. 7SPPACh. 11 - Prob. 8SPPACh. 11 - Prob. 9SPPACh. 11 - Prob. 10SPPA
Ch. 11 - Prob. 1IAPACh. 11 - Prob. 2IAPACh. 11 - Prob. 3IAPACh. 11 - Prob. 4IAPACh. 11 - Prob. 5IAPACh. 11 - Prob. 6IAPACh. 11 - Prob. 7IAPACh. 11 - Prob. 8IAPACh. 11 - Prob. 9IAPACh. 11 - Prob. 1MCQCh. 11 - Prob. 2MCQCh. 11 - Prob. 3MCQCh. 11 - Prob. 4MCQCh. 11 - A renewable common resource is used sustainably if...Ch. 11 - Prob. 6MCQCh. 11 - Prob. 7MCQCh. 11 - When ITQs are assigned, the market price of an ITQ...
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- The residents of Orléans, Ontario enjoy seeing fireworks over Petrie Island on Canada Day. Each of the community's 1000 residents places a $5 value on the experience. a. What are the defining characteristics of a public good? b. If the cost of putting on a fireworks display is $1000. Would it be socially optimal to have a Canada Day fireworks display in Orléans? c. Would the private market result in a fireworks display? d. Could governments provide a solution to achieving the efficient level of production?arrow_forwardAn externality is Select one: a. the uncompensated impact of one person's actions on the well-being of a bystander. b. a market equilibrium tax. c. the costs that parties incur in the process of agreeing and following through on a bargain. d. the proposition that private parties can bargain without cost over the allocation of resources.arrow_forwardAn externality is Select one: a. a market equilibrium tax. b. the costs that parties incur in the process of agreeing and following through on a bargain. c. the uncompensated impact of one person's actions on the well-being of a bystander. d. the proposition that private parties can bargain without cost over the allocation of resources. Checkarrow_forward
- Externalities and Public Goods: End of Chapter Problems 7. "Internalizing" a negative externality refers to the incorporation of the full social cost of negative spillovers into the price of a product. a. Internalizing a negative externality leads to a in price and a in output and employment. b. The globalization of production has made implementation of policies that foster internalization of negative externa because it allows companies to shop for more favorable legal environments if cleanup costs are significant. it enables governments to more easily establish rules and regulations on a global scale.arrow_forwardThe south African government develops targets that pertain to healthcare and education. Which of the following statements explains why government provides these two goods? A. The benefit to society of healthcare and education is extremely low. B. The benefits that society receives from health care and education exceed those that accrue to an individual user. C . The government spends money on health care and education because they are public goods D. Health care and education only produce negative externalities.arrow_forwardHow do taxes, pollution charges, and cap-and-trade work to reduce emissions? Taxes and pollution charges _______.arrow_forward
- Define pollution charge and will our economy be able to control pollution? Share your thoughts in a paragraph.arrow_forwardExplain one negative externality and one positive externality that is currently happening in your country. What is your country's government doing to fix the issues of the negative externality?arrow_forwardDefine and give an example of a public good. Can the private market provide this good on its own? Explain.arrow_forward
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