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(a) Explain what negative externalities are, and why there may be a case for government intervention to address them. Describe some of the ways to correct the negative externalities and the pros and cons of each method. Provide real life examples.
(b) Choose a case study from your home country where an externality exists in a current market. Using the key characteristic of four market structures identify the type of market structure in your case study (ie. monopoly, oligopoly, perfect competition or monopolistic competition). Illustrate the situation with externalities in your case study and the resulting deadweight loss in a diagram and discuss ways that your government has addressed the presence of negative externalities in the market.
(c) Suggest other options for dealing with negative externalities in your case study. Outline the economic reasons for your suggested options.
Overall presentation of work, especially use of graphs, clear written expression.
Appropriate use of referencing.
Assuming there is no change in either demand or the firms' cost curves, explain what will happen in the long run to the price of fertilizer, marginal cost, average total cost, the quantity supplied by each firm, and the total quantity supplied to ..
Discuss if you agree or disagree with this statement and explain your position: Market equilibrium (price and quantity of equilibrium) is just a theoretical result.
identify at least five (5) fixed costs and five (5) variable costs OF the NFL (National Football League). If the business or economy slows down, discuss how the industry can control its costs based on the ten (10) costs you identified.
b. What is the Economic profit or loss you are making? c. What output level is the minimum point for Average Total Costs (ATC)? d. What output level, Q, and price/trip, P, will economic profits be zero? Note
The labour- force participation rate of married woman has more than doubled over the last 50 years. One economic influence on this rate was the increase in women's wages over the period. Another economic influence was the increase in men's wages
Find out the total revenue (TR) and total profits in terms of Q. At what level of output (Q) are total profits maximized? What price will be charged? What are total profits at this output level?
Which of the following is not one of the explicit functions of the Federal Reserve granted by Congress.
Identify who has the absolute advantage in painting rooms? Who has the absolute advantage in installing windows? Briefly explain how you derived your answer.
what are the cost and consequences of providing the subidies?
What is the machine's payback period? Compute net present value of machine if the cost of capital is 12%. Find out the expected internal rate of return for this machine?
Distinguish between explicit and implicit costs, giving examples of each. What are some explicit and implicit costs of attending college 2. Distinguish between accounting profit, economic profit, and normal profit. Does accounting profit or econom..
The south african government is not providing enough welfare to the poor
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