Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The demand curve for chocolate can be represented by P = 1,500-10Q, where P is the price per ton (in U.S. dollars), and Q is expressed in tons per year. The private marginal cost of production in the chocolate industry is given by 20Q. But chocolate production causes a nauseating odor to sweep over the city in the vicinity of chocolate factories, so the social marginal cost of production, taking the odor into account, is 30Q. a. (5 points) Assuming that the market for chocolate is competitive, what will be the outcome (and in particular, the quantity of chocolate produced), in the absence of any taxes or subsidies (or Coasean-style negotiations)? Please include a graph. b. (7 points) Regulators have decided to set up a cap-and-trade system for chocolate production. How many permits should they issue (that is, how much chocolate should they allow to be produced) to maximize social surplus? How much do you think a permit (to produce one ton of chocolate per year) will trade for, with the fixed supply (at the social optimum) of permits and many firms competing to buy them? c. (8 points) This odor problem and the subsequent reduction of the odor via a cap-and-trade system takes place in Grimyville. People were always free to move into or out of Grimyville. Following the reduction of the odor via the cap-and-trade system, who are the likely "winners" and "losers" from the cap-and-trade policy reform, in the resulting long-run competitive equilibrium? Please explain your answer.
A movement downward and to the right along a demand curve is called a(n)
Apply the steps of the decision-making process to your situation as you decide what to do after graduation.
At the end of the one-year contract, what will his "friend" offer John as the price for an extension of the deal?
Any time he would decide to switch to some other computer system he could cancel the software lease and sell the computer for $500.
Explain Tay-Sachs disease. Imagine you are a genetic counselor working with a couple who have just had a child who is suffering from Tay-Sachs disease.
An economic consultant comes to Syracuse Mayor Stephanie Miner with an idea. He wants to create neighborhood volunteer groups to provide the basic services for parks in the city (clean up trash, mow the grass, etc.) instead of city personnel. Discuss..
Gains from trade will result if a country specializes.
Which of the following is NOT an example or consequence of a market externality?
Parsons-Ashworth Bread Company hire you as their economist.Your first task is to estimate the price elasticity of demand for different bread products.
If your cost of producing bran muffins is C(Q) = 2.0Q, determine the optimal number of bran muffins to sell in a single package and the optimal package price.
Discuss the CNSS (also known as the McCumber Cube) security model. Note that if you extrapolate the three dimensions of each axis, you end up with a 3 × 3 × 3 c
Real GDP is: A.the base year market value of all final goods and services produced domestically during a given period.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd