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Now consider the marginal benefit of emissions associated with methane emissions from natural gas production: MBE = 200 - 8E
(a) Graph MBE and label intercepts. What is the unregulated level of emissions?
(b) Suppose the marginal cost of methane emission is MCE = 20 + 1E. Add this function to the graph and label deadweight loss associated with unregulated emissions.
(c) What is the efficient level of methane emissions?
(d) What is the efficient Pigouvian tax to correct this externality?
(e) If the government sets a cap at E∗ what will the equilibrium price of permits be?
(f) Suppose an individual firm as the marginal benefit function MBEi = 200 - 20Ei . How much will this firm choose to emit under either policy?
The primary difference(s) between the standard deviation and the coefficient of variation as measures of risk are: the coefficient of variation is easier to compute
Why should this policy be undertaken under conditions where economy is at some GDP level less than full employment level? You may use a long run aggregate supply curve to bolster your argument here.
Given the production function Y = A and fixed values for the saving rate and depreciation, if productivity is growing at an average rate of three percent, and the labor input grows at two percent, there is a unique growth rate of capital that is su..
To reduce the costs of revolving insurance disputes, insurers have required that the customers use arbitration. Arbitrators are required to be knowledgeable about medicine and insurance contracts. Why might you participate that the arbitration mechan..
Suppose that the natural rate of unemployment in a particular year is 4 percent and the actual rate of unemployment is 11 percent. Use Okun’s law to determine the size of the GDP gap in percentage-point terms. If the potential GDP is $500 billion in ..
Now suppose that w > 0. What additional types of strategic effects have been introduced into the game? In a reaction function diagram show the different strategic effects of advertising and describe the final equilibrium.
The questions on this homework deal with an economy called Economica. Calculate the money supply (M1) using the "simplified definition method." Assume the information given here is the only relevant information. Carefully follow all numeric instructi..
In 2002, the price index is _____. ( round your answer to two decimal places).
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Which of the following items are not considered resource costs even though they are counted as income paid to persons?
Suppose that we have a standard real intertemporal model with investment. The country experiences a natural disaster and the current capital stock K is greatly reduced. In other words, suppose that the representative firm begins the current period wi..
Consider how to explain the meaning of nominal interest rate and real interest rate. How are they related?
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