+1-415-670-9189
info@expertsmind.com
Impact of external costs on resource allocation
Course:- Microeconomics
Length: Word Count: 198
Reference No.:- EM1329




Assignment Help
Assignment Help >> Microeconomics

(a)         Explain the impact of external costs and external benefits on resource allocation;

(b)         Why are public goods not produced in sufficient quantities by private markets?

(c)         Which of the following are examples of public goods (or services)? Delete the incorrect option

Explain your choice.

   (i)       The Judicial system       ............................................... Yes/No

   (ii)      Pencils       ................................................................ Yes/No

   (iii)     The quarantine service    .............................................. Yes/No

   (iv)  The Great Wall of China................................................... Yes/No

   (v)      Contact lenses       ......................................................Yes/No

Summary:

The question is about externalities affecting resource allocation, public goods and their implication on the profit of a firm have been answered. 

 

 




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Microeconomics) Materials
Find the firm's optimal quantity, price, and profit (1) by using the profit and marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and M
Who has a comparitive advantage in jigsaw puzzles? If Tom and Tessa specialize in producing the good in which they enjoy a comparative advantage, what are the quantities of
Won 100 million dollars in a lottery that pays installments of 20 million dollars a year for five years or a lump sum of less than 100 million dollars. If I take the installme
Differentiate between financial and cost accounting as well as its opportunities and applications - Discuss and explain how cost management information is developed and used w
In the classical model with fixed income a decrease in the real interest rate could be the result of a(n): If currency held by the public equals $100 billion, reserves held by
When we look at the issue of the ability of markets to function (hopefully well) what are some of the issues that factor into the fluctuation of markets, both on a domestic
Explain how parties to a sales contract might prevent subsequent email communications from waiving the contract's explicit requirements. Include at least one real world exam
What mobile computing devices do you use now? Does your business require you to change formats? Be creative in your thinking of how m-commerce can be the difference maker in