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Question: The demand (MB) for a good is given by P= 20-Q. The private marginal cost is given by PMC= 6+Q, and the marginal damage function is given by MD = 2+Q.
Note: the optimal tax is the difference in price between the private marginal cost and the social marginal cost at the socially optimal quantity, NOT at the private optimal quantity.
Find the social marginal cost curve.
Find the optimal tax rate that can induce producers to reduce output to social optimal level.
Calculate the gain (damage avoided), loss (loss of producer + consumer surplus caused by less output) and net gain (avoided DWL caused by pollution) of the tax.
Orange juice and apple juice are known to be perfect substitutes. Draw the appropriate price-consumption curve (for a variable price of orange juice) and income-consumption curve.
What are the main ideas of the Theory of moral development? How is the therapy/theory used in counseling? What target population is the theory/therapy designed or used with currently.
A grocery store in a small town has a supply curve for oranges that is given by the equation P =1/10Q + 1. Plot the supply and demand curves on a scale diagram
Suppose the sum of consumption, investment, and government spending is $620 billion, where investment includes involuntary inventory accumulation of $2 billion in addition to expenditure on plant and equipment, and government spending includes $5 bil..
A competitive firm has the following quadratic total cost function: TC = 5Q2- 25Q + 300- Determine the firm's break-even points if the market price is P = $80.
How best to serve the diverse wants and needs of passengers. Explain your assessment of the most profitable strategy.
Grade-school education is said to yield a beneficial externality because all of us benefit from interacting with people who know basic reading and writing.
1. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the all in a given period of time. Based on this definition, indicate which of the following transactions will be i..
The weight of Labrador Retrievers is normally distributed with Mean 73 lbs and Standard Deviation 12 lbs. Shade in and calculate the probability that a randomly selected dog weighs less than 75 lbs.
Explain how Alka-Seltzer Plus has been quality and price-positioned in existing market. Would you advise Bayer to use skimming or penetration pricing strategy?
The Fed wants to increase the money supply (which is currently 4,000) by 200. The money multiplier is 3. For each 1 percentage point the discount rate falls, banks borrow an additional 20.
on sunday august 19 the detroit tigers and the new york yankees played baseball at yankee stadium. both teams were in
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