Pearson eText Microeconomics -- Access Card
2nd Edition
ISBN: 9780136849513
Author: Acemoglu, Daron, Laibson, David, List, John
Publisher: PEARSON
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Question
Chapter 9, Problem 2Q
To determine
Identify the whether the following statements are the examples of externality or not:
(a) If person A did not sleep well because of loud music played by neighbor.
(b) If person R woke up late for interview because the alarm did not go off
(c) If person J fell sick due to allergy from flowers in the garden
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Use a supply and demand graph to show a good which
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Chapter 9 Solutions
Pearson eText Microeconomics -- Access Card
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- Which of the following generate the type of externality previously described? Check all that apply. The city where you live has granted a permit to put a movie theater in your neighborhood, causing traffic jams at night and on weekends. A microbiology lab has published its breakthrough in swine flu research. Your roommate, Lucia, has bought a puppy that barks all day while you are trying to study economics. Eric has planted several trees in his backyard that increase the beauty of the neighborhood, especially during the fall foliage season.arrow_forwardHistorically, Vaccinations have prevented the spread of certain diseases such as chicken pox or megningtis. What type of externality takes place with the consumption of such vaccines. Explain with words and a graph.arrow_forwardWhat are externalities?arrow_forward
- How do negative externalities cause market failure?arrow_forwardGive an example of a negative externality that you have witnessed or are personally aware of. Who is affected by this? What can be done to improve the situation?arrow_forwardThe following diagram shows the market for medical checkup. What are the equilibrium price and quantity of medical checkup? Which kind of externality problems exists in the market for medical checkup? How does this externality problem affect the efficiency of the market? Explain in detail. How can the government solve this externality problem? Explain in detail.arrow_forward
- Which of the following is an example of negative externalities for Ari? Group of answer choices Ari’s neighbor plants a tree that provide shade for Ari’s house in the hot summers. Ari’s bought a car that keeps breaking down and is very costly to own. A power company builds a dam downstream from Ari’s property which causes Ari’s property to flood in case of heavy rain.arrow_forwardAn example of an externality is:a) the irritation you feel when you drive past a gas station offering a 20% discount on gas, having just filled your tank for full price at a station 100 meters up to the roadb) the penalty paid by a coal mining company after it is caught illegally dumping toxic waste into a riverc) the injury suffered by a cyclist who, in your delirious rage over missing the bargain at the gas station, you inadvertently force off the road as you drive past the gas stationd) the price paid by an electricity company for an emission certificate on the European Trading Scheme, allowing it to emit a specified level of CO2arrow_forwardGive an example for positive and negative externalities you create. Then write down possible solutions (could be private or public sector solution) for these positive and negative externalities.arrow_forward
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