If production of an item results in negative external costs

Assignment Help Business Economics
Reference no: EM13801006

If production of an item results in negative external costs, then the market price is below the socially referred price that reflects the external costs the market price is above the socially preferred price that reflects the external costs market forces will always correct the problem the market quantity is too low from society's point of view

Reference no: EM13801006

Questions Cloud

Compensation plans usually include a variety of benefits : Compensation plans usually include a variety of benefits. Name the three benefits that would be most important to you as part of your personal compensation package.
What is nationalcritical infrastructure : What is your position title. What are your job responsibilities. If you are an owner or operator, define your business and its involvement in protecting critical infrastructure.
Society is likely to over-allocate resources to produce good : Society is likely to over-allocate resources to produce goods that
Under allocation of resources to specific economic activity : Which of the following leads to an under allocation of resources to a specific economic activity?
If production of an item results in negative external costs : If production of an item results in negative external costs, then the market price is below the socially referred price that reflects the external costs the market price is above the socially preferred price that reflects the external costs market fo..
Estimate the height of the clif in meters : Much as you did with the guy, estimate the height of the clif in meters. Write just the answer below and possibly an estimate of uncertainty
Focus on the work breakdown structure : Pay specific attention to the Work Breakdown Structure and Gantt chart from your Resources - Begin to conceptualize which project planning tools you would use for your scenario.
Real GDP can be greater than or less than potential GDP : In the short-run, real GDP can be greater than or less than potential GDP because in the short run the
Abroad are recorded in the capital and financial account : Payments for imports and receipts from exports are recorded in the current account. Foreign investment in the United States and U.S. investment abroad are recorded in the capital and financial account. A change in U.S. official reserves is recorded i..

Reviews

Write a Review

Business Economics Questions & Answers

  How many times more productive was a per-hour lawyer

Times more productive than a minimum wage worker. How many times more productive was a $160-per-hour lawyer compared to a worker earning minimum wage?

  Find cournot-nash equilibrium output-profit of each firm

Consider a Cournot duopoly with the inverse demand p = 130 ? Q. Both firms have constant marginal and average cost MC = AC = 10. Find the Cournot-Nash equilibrium output and profit of each firm. Calculate the consumer surplus and DWL.

  Graph the old equilibrium price and quantity

During the last year, the demand for books has been falling. At the same time, some industry observers expected that several smaller book manufacturers might exit the market due to the strong competition imposed by Kindle. Use a demand and supply gra..

  First mover will not install a capacity

Elucidate why the first mover will not install a capacity less than 6 or greater than 12.

  Who should specialize in gathering nuts

Suppose that in an hour Chip can gather 8 pounds of fruit or 4 pounds of nuts. In an hour, Monk can gather 9 pounds of fruit or 3 pounds of nuts. Who should specialize in gathering nuts? Monk or Chip? both? or neither?

  Compute nominal gdp and real gdp also the gdp deflator

Compute nominal GDP, real GDP also the GDP deflator for each year, using 20010 as the base year.

  How absolute and comparative advantages were used

Explain how absolute and comparative advantages were used in your simulation.

  Shift of the supply curve for hot dogs check all that apply

Which of the following would cause a shift of the supply curve for hot dogs check all that apply?

  Judged in terms of the mechanisms used to allocate resources

Judged in terms of the mechanisms used to allocate resources, the former USSR was

  Q1 assume that a leader country has real gdp per capita of

q1. assume that a leader country has real gdp per capita of 40000 whereas a follower country has a real gdp per capita

  General model for predicting long-run market share

A company is trying to predict the long-run market share of a new men's deodorant. Based on initial marketing studies, they believe that 35% of new purchasers in the market will ultimately try this brand. Calculate the long-run market share that the ..

  Direct competition with the oligopoly

Assume that a very competitive start-up enters the market in direct competition with the oligopoly you described in the e-Activity.

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