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The market for a particular chemical, called Negext, isdescribed by the following equations.Demand is given by:QD = 100 -5PSupply is given by:QS = 5Pwhere Q is measured as units ofNegext and P is price in dollars per unit.a. Find the equilibrium price andquantity. Compute consumer surplus, producer surplus, and totalsurplus in the market equilibrium.b. For each unit of Negext produced,4 units of pollution are emitted, and each unit of pollutionimposes a cost on society of $1. Compute the total cost ofpollution when the market for Negext is in equilibrium. What istotal surplus from the market after taking into account the cost ofpollution?c. Would banning Negext increase ordecrease welfare? Why?
Suppose production of this good imposes external costs of $10 for each unit produced. Does this cause an over or an underallocation of resources to production of this good
Explain how the Environmental Protection Agencys policies impact business in the US.
Assume the Required Reserve Ratio is 10% and the balance sheet of the People's National Bank looks like the accompanying example:
Explain why is efficiency lost at the extremes as when substantially more of one good and very little of another is produced?
Consider a good being sold in both city A and city B. The correlation coefficient between the price of the good in city A and city B (using weekly data over the period 2007 to the present) is 0.92. We may conclude that city A and city B are in the..
Assume the construction of the $360M stadium is to be financed entirely with debt to be repaid over twenty years. The repayment burden is negilible in short run.
Find out the optional number of units to put in a package. How much should the firm charge for this package?
Over the last three years, as the result of decreasing prices for digital cameras, the price of developing traditional 35mm film has increased 5% yesrly. How would I go about graphing this impact on the market for 35mm cameras.
Explain what factors would increase the supply (shift the supply line to the right) of a manufactured product like white bread and what factors would cause a decrease in demand (shift of the demand curve to the left) for that same product.
The World Bank is currently advising newly industrialized countries on how to encourage growth. Using the Internet, library and/or other resources, research and briefly explain 2-3 methods currently being used to encourage economic growth for the ..
Use the following general linear supply function to answer the question, Where Qs is the quantity supplied of the good, P is the value of good, PI is the value of an input, and F is the number of companies manufacturing the good.
Consider a competitive market for which the quantities demanded and supplied (millions per year) at various prices are given as follows:
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