User Account

All Pages

Graph the dynamically efficient market

Assignment Help Business Economics
Reference no: EM13123594

1. Know how to do the static/dynamic efficiency problem.

Suppose the marginal benefit and marginal cost of extracting a nonrenewable resource is given by MB = 60 -0.5Q, MC = 10.

1) Graph the dynamically efficient market for two periods on one graph.

2) Graph the dynamically efficient market for each period on it's own graph. Suppose the government sets a price control equal to 20.

3) Illustrate the deadweight loss that results from the price control in each period. Why is this a deadweight loss? (Hint: Now that you know the dynamically efficient quantity and price for each period, graph each period on it's own graph. Impose the price control. Find the quantity that occurs in the 1stperiod with the given price control. How much is left over for the 2ndperiod? Find the deadweight loss in each period.)

2. Cap, Tax, or Neither? Please answer the each question around 5 sentences. And reference the attached articles.

  • Do you support an emissions cap, emissions tax, or neither? Be sure to support your argument with economic reasoning. 
  • If you don't support an emissions cap or tax, do you have a different potential solution or idea for decreasing emissions?  What is it?

Reference no: EM13123594

Questions Cloud

Confidence interval for population using historical data : Historical data suggests a standard deviation in the first sample of 10 and a standard deviation in the second sample of 16. Find a 95% confidence interval for the population difference.
Analyticity and differentiability : Assume that f(z) is analytic at the origin and f(0) = first derivative of f at 0 = 0. Prove that f(z) can be written in the form f(z) = [z^2]g(z), where g(z) is analytic at z = 0.
Graphing a linear equation : Graph the linear equation for the indicated values of the independent variable.Show this on a Graph as well as the formula
Amount of overhead cost : The amount of overhead cost that the company applied to work in process for October was:
Graph the dynamically efficient market : Graph the dynamically efficient market for two periods on one graph and graph the dynamically efficient market for each period on it's own graph. Suppose the government sets a price control equal to 20.
Suppose v and w are two normed spaces : Suppose (V, | * |) is a normed space. If x, y E V and r is a positive real number, show that the open r-balls Br(x) and Br(x + y) in V are homeomorphic.
Find sample to be accurate within ten peaches per tree : Find the 98% confidence interval for the mean number of peaches per tree. How many trees does she need to sample to be accurate within 10 peaches per tree?
Determine population for production line to be tested : Ninety of these flashlights are selected at random from the production line to be tested, and 15 are found to be defective. The population is?
Graphing binomials from trinomials : Using graphing to check your answers is helpful. When you factor a trinomial into two binomials, each binomial represents a linear relationship. If you plot the two binomials (which are just lines) on a graph

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd