Nursing Guys

April 10, 2021

Private Solutions to Externality Problems

PRIVATE SOLUTIONS TO EXTERNALITY PROBLEMS In certain situations the private sector can resolve externalities. Solving problems requires time and effort. Transaction costs: all of the costs […]
April 10, 2021

The Socially Optimal Amount of Farmland

THE SOCIALLY OPTIMAL AMOUNT OF FARMLAND       Marginal social cost, marginal social benefit Quantity of preserved farmland QOPT 0 10,000   Marginal social cost […]
April 10, 2021

Economic Growth and Greenhouse Gases

ECONOMIC GROWTH AND GREENHOUSE GASES IN SIX COUNTRIES Canada and the U.S. pollute more absolutely… bot not compared to their GDP   Back to Table of […]
April 10, 2021

Why a market economy produces too much pollution

WHY A MARKET ECONOMY PRODUCES TOO MUCH POLLUTION         QMKT QH QOPT 0 $400 300 200 100 O         Marginal […]
April 10, 2021

Policies for Pollution Discussion

POLICIES FOR POLLUTION   Environmental standards: rules that protect the environment by specifying actions by producers and consumers.   If the market won’t solve its own […]
April 10, 2021

External Benefits and Efficiency

EXTERNAL BENEFITS AND EFFICIENCY Sometimes a market includes benefits that bystanders receive. External benefit: a benefit received by people other than the consumers or producers trading […]
April 10, 2021

Emission Taxes solving Externality Problems

EMISSIONS TAXES CAN SOLVE EXTERNALITY PROBLEMS       QMKT QH QOPT 0 $400 300 200 100 O             Marginal social […]
April 10, 2021

The socially Optimal Quantity of Pollution

THE SOCIALLY OPTIMAL QUANTITY OF POLLUTION       Marginal social cost, marginal social benefit Quantity of pollution emissions (tons) QOPT 0 $200   Marginal social […]
April 10, 2021

How to measure the marginal social cost of Pollution

SO HOW DO YOU MEASURE THE MARGINAL SOCIAL COST OF POLLUTION? It’s the sum of the willingness to pay among all members of society to avoid […]
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