How we may reduce the amount of food waste

Reference no: EM132200284

Question: Common Goods, Public Goods.

Can you explain why waste removal service and a clean environment are common goods?

The problem is there is no market for food scraps. That is why we say markets do not solve the problem. Maybe the situation will change in the future, and food scraps will have market value.

Let's take Midwest Organics Recycling. The company is accepting organic wastes and converting it into compost. However, they do not buy waste, consumers subscribe to their service and pay a monthly fee. This program makes their service a common good, not a private good. We know that private markets allocate private goods efficiently.

Can you use your knowledge about common goods, public goods, and private goods and make recommendations how we may reduce the amount of food waste and make waste removal service (or waste management) more efficient?

Reference no: EM132200284

Questions Cloud

What is the threshold number of people in the cooperative : Consider an application of the Prisoner's Dilemma to cooperatives. Suppose that a development institution establishes an agricultural cooperative.

Evaluating capital investment proposals : Provide most critical & difficult step in evaluating capital investment proposals and what are the steps are involved in performing this evaluation.

Provide the total expenses : Metropolitan Hospital reported net income of $7.2 million on total revenues of $60 million. Depreciation expense totaled $4 million.

Provide the clinic''s projected p-l statement : Provide the clinic's projected P&L statement. Provide number of visits is required to break even

How we may reduce the amount of food waste : Can you use your knowledge about common goods, public goods, and private goods and make recommendations how we may reduce the amount of food waste.

What is the price of stock today : The required rate of return on this stock is 10.5% per year. What is the price of this stock today?

What are the players payoffs to playing the game : Consider the simple poker game we discussed in class and the strategy profile: Player I: folds if holding a black card; folds if holding a red.

Write the iterative version of this function : Write a function that will take an integer n as an input and return the n-th numbe rin the Fibonacci sequence using recursion.

What is the current price of the stock : A company's stock you are looking at just paid out a $2.00 dividend and that company is expecting to grow at 5% over the foreseeable future and the minimum

User Account

All Pages