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1. The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons. The current emissions tax (price) for pollution is $40/ton. Regulators are curious if a 10% decrease in the pollution tax will lead to a disproportionate percentage increase in emissions. You calculate the elasticity of pollution demand and conclude (choose one):
a. Demand is elastic. A reduction in the tax will lead to a disproportionately large increase in emissions.
b. Demand is elastic. A reduction in the tax will lead to a smaller than proportional increase in emissions.
c. Demand is inelastic. A reduction in the tax will lead to a disproportionately large increase in emissions.
d. Demand is inelastic. A reduction in the tax will lead to a smaller than proportional increase in emissions.
assume you are selling a product and when your price is decreased by 29% your quantity demanded increases by 55%. What is your price elasticity of demand?
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Supply and demand for a given type of MP3 player are given by the following equations: P=980-1.5Qd P=20+0.9Qs
how to control principal agent
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Determine the Cost Efficient Levels of Emissions Reduction Two firms produce a pollutant called Q. The total cost of reducing emissions of Q are as follows for Firm 1 and Fir
1. How does the marginal social benefit curve of a common resource compare to the marginal social benefit curve of positive externality from a mixed good? Highlight the difference
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