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Question: Consider the following data on the social costs and benefits associated with a policy to reduce water pollution (% reduction) by regulatory means: % reduction Social Costs (in millions) Social Benefits (in millions) 0 (status quo) 0 0 10 10 80 20 22 150 30 40 200 40 70 240 50 105 280 60 150 320 70 210 350 80 280 375 90 350 385 100 420 390 A. What level reduction (%) is most optimal based on the welfare (allocative efficiency) criterion? B. Current budgetary constraints limit the amount available to spend on the water pollution reduction policy to $250 million. What is the argument against using that amount to "buy" the maximum amount of pollution reduction possible (around 70-80%) based on available cost estimates? C. If budgetary resources are available to fund maximum (100%) pollution reduction, why would such a policy still not be optimal according to the welfare (efficiency) criterion?
Is this measure stabilizing or destabilizing. Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession. What effects would this philosophy have on the size of the federal deficit.
Could the firms profit by entering into an industry-wide agreement concerning the extent of advertising? Explain.
Discuss the criticisms of human capital theory put forward by proponents of screen- ing theory. Discuss the most common indicators of educational performance and their strengths and weaknesses.
When the price of corn was "low," consumers in the United States spent a total of $3 billion annually on its consumption. When the price halved, consumer expenditures actually decreased to $1 billion annually.
what is the law of diminishing marginal productivity? give an example from your workplace of the law of diminishing
What is a discouraged worker? Are they included in the basic unemployment rate? Are they included in any measure of unemployment? How has the number of discouraged workers changed since 2008? How does the exclusion of the discouraged worker affect..
Sketch the ppf ’s for both countries.d. Assuming no trading between the two, if both countrieswanted to have equal numbers of feet of timber and basketsof fruit, how would they allocate workers to the two sectors?
Suppose it costs each person $20 a day to fish and that fish sell for $10 each at the market. At the social optimum, how much would it hurt all the other fishermen (combined) if one more person started fishing?
What is the major steps are involved in PPP transaction? How do in development phase and realization phase? What PPPs do in post-financial close stages?
If the college put a price ceiling on meals at $4 a meal, what is the quantity bought, the shortage of meals, and the maximum price that someone is willing.
Two factories together have marginal abatement cost equal to MACT = 750 - 6eT, where e1 + e2 = eT. The undesirable pollutant imposes a cost on the residents of society and this is given by the marginal damage cost MD= 4eT.
Describe the harvest strategy of a business plan investors can use to monitor progress.
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