Reference no: EM131069589
In the 1970's a popular governmental policy designed to reduce the negative externalities associated with air pollution was regulation. Governmental policy eventually evolved to "cap-and-trade." Using the economic analysis discussed in class (including graphs) describe how regulation works, explain how cap-and-trade works, and discuss whether and how cap-and-trade policies improve (from an economic perspective) upon regulation.
Describe, in words (no graphs), the First Theorem of Welfare Economics.
Suppose that there is a negative externality in the market for trout in Colorado. Letting Q represent pounds of trout, explain (using graphs and words) why government intervention in the market for trout may be appropriate.
Suppose that all trout are found in one (big) lake and that someone purchases the lake. So, they own the lake. Might government intervention be appropriate in this case? Explain your answer.
Recent debate about reducing carbon emissions has focused on the relative benefits of (a) a carbon cap-and-trade (permit) system and (b) a carbon tax (i.e., a tax on emissions of carbon).
(A) Using what we have learned in class, explain the economic logic underlying (a) and that underlying (b).
(B) From an economic efficiency perspective, is either policy (a) or policy (b) preferred? Of course, explain your answer.
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Section test your ability to apply your knowledge
: The questions in this section test your knowledge and also your ability to apply your knowledge. Read each question carefully and select one correct answer.
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Which stds can be cured and which can only be treated
: Which STDs can be cured and which can only be treated? For STDs that can only be treated, would you always be contagious? What are the most effective methods to prevent their spread to yourself and your partner? What should you do if you are diagn..
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Prepare marketing strategy report
: This slide presentation follows on from the marketing strategy report our team completed three weeks ago. That report summarised industry research and proposed a segmentation framework
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Productivity of the population is an example
: Vaccinating people for measles, rubella, polio, and cholera to substantially increase net social benefits by improving the health and productivity of the population is an example of
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Economic efficiency perspective
: (A) Using what we have learned in class, explain the economic logic underlying (a) and that underlying (b). (B) From an economic efficiency perspective, is either policy (a) or policy (b) preferred? Of course, explain your answer.
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Law of diminishing returns
: "If it were not for the law of diminishing returns, a firm's average cost and average variable cost would not increase in the short run." Do you agree? Explain.
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Gradual opening of the crack during the loading phase
: Plastic deformation at crack tip; no change in crack configuration (i.e. crack opening and crack length); loading phase.
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Accelerate the recognition of income
: If Luis makes an election to accelerate the recognition of income but he leaves the company after three years, is he eligible for a refund of taxes paid?
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