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Two firms are ordered by the federal government to reduce their pollution levels. Firm A’s marginal costs associated with pollution reduction is MC = 150 + 3Q. Firm B’s marginal costs associated with pollution reduction is MC = 9Q. The marginal benefit of pollution reduction is MB = 270.
a. What is the socially optimal level of each firm’s pollution reduction?
b. Compare the social efficiency of three possible outcomes: (1) require both firms to reduce pollution by the same amount; (2) charge a common tax per unit of pollution; (3) require both firms to reduce pollution by the same amount, but allow pollution permits to be bought and sold.
Explain why marginal cost curves slope downward as firms increase their output from "0”; but, eventually, as output continues to expand, marginal cost curves slope upward and ultimately become vertical.
Suppose that there is a? temporary, but significant increase in oil prices in an economy with an? upward-sloping SRAS curve. As a policy response to this? short-lived but sudden increase in oil? prices, a central bank
Mr. Diamond expects to invest $1000 per year for each of the next 20 years in an investment plan that pays 10% per year, compounded annually. At the end of the 20th year, he expects to withdraw the balance in his investment plan and deposit it in a s..
Tyrion, who likes beer and wine, lives in Westeros, where people buy things with Silver Stags (SS). The price of wine is 5SS per flagon and the price of beer is 2.5SS per jug. Tyrion’s daily income is 50SS.
Holdt Inc. produces and sells a single product. The selling price of the product is $110.00 per unit and its variable cost is $70 per unit. The fixed expense is $160,000 per month. The break-even sales (units) are:
In the international marketplace, countries are categorized based on their stages of development. A marketer needs to be clear on these categories in order to determine the potential demand for its products/services.
Gross Domestic Product involves a calculation of the total value of the goods and services generated within an economy in a stated or identified time period. The main difference between real GDP and nominal GDP is that nominal GDP does not consider h..
If gold was made "legal tender" in those states, how effective do you think gold would be as (1) a medium of exchange (2) a standard of value and (3) a store of value in those states? Explain your reasoning.
when given 5 costs also quantities over 5 months also asked for the arc cost elasticity of demand.
Given the utility function U(F,C) = √(FC), and this budget constraint: 100,000 = 4F+40C, Suppose that a person is consuming more F and less C than the utility maximizing bundle. Would the marginal rate of substitution of F for C be greater or less th..
Periodic outlays for inventory control software at Baron Chemicals are expected to be $280,000 immediately, $280,000 in 1 year, and $200,000 in 2 years. What is the present worth of the costs at an interest rate of 3.92% per year, compounded continuo..
If ABC adds an assembly line for the product and XYZ does not follow with a competitive product.
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