Private, social and external costs and benefits, Microeconomics

Assignment Help:

Question:

(a) Using an example, differentiate between private, social and external costs and benefits.

(b) With the use of a diagram, describe the difference between profit maximizing level of output and socially desirable level of output in the
presence of negative externality.

(c) Describe and determine the methods that the public and private sectors attempt to deal with negative externalities.

(d) Using appropriate examples, differentiate between merit and public goods.


Related Discussions:- Private, social and external costs and benefits

Microeconomics, When the price of candy bars increased from $.45 to $.55 th...

When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand

Need anser, Consider what would happen if a taxes of 10000$ was imposed on ...

Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the

Cost push inflation, what are the solutions to cost push inflation

what are the solutions to cost push inflation

Micro, a. Suppose the demand for saline solution is perfectly inelastic for...

a. Suppose the demand for saline solution is perfectly inelastic for contact lens wearers. If the government imposes a tax on saline solution, what occurs? Be sure to tell what hap

Marginal utility and indifference curve, Marginal Utility and Indifference ...

Marginal Utility and Indifference Curve - If the consumption of a product moves along an indifference curve, additional utility derived from the increase in consumption of sing

Marris model, what is the assumption of the model ?

what is the assumption of the model ?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd