Have a-d completed. Would appreciate experience Q&A for e-g.
1. Suppose that the private market for rubber tires is characterized by the following inverse supply and demand functions: D P 100 - 0.001Q S: P 100.001Q a. Setting supply equal to demand and creating two equations with two unknowns (P and Q), solve for the market clearing price and quantity (P* and Q*) and plot this market on the following graph. Also, calculate the Total Expenditure on rubber tires by society.
Rubber Tires $100 100 S0 Quantity in 1,000s Scenario: Rubber tires are an environmentally intensive good for many reasons. First, the cultivation of rubber plants and the harvesting of usable rubber has large resource (land, water, and labor) requirements. Second, the production of rubber into tires pollutes the air, nearby water (surface and/or ground), and surrounding ecosystems. And finally, the global demand for rubber tires (and rubber in general) is immense and growing Suppose that the EPA calculates that the Marginal External Cost (Damage) from rubber tire production is characterized by: MEC = $20.
This means that every additional tire that is produced creates $20 worth of damage outside of the market. c. In the graph above, plot the Social Supply function which considers the external cost of rubber tire production. Calculate the Dead Weight Loss and Total Damage caused by the externality.1 d. Locate the Socially Efficient Price and Quantity (Peff and Qeff). Calculate the Total Damage caused by the externality at the Social Equilibrium.
1 For Total Damage, iust consider that each tire produces damage egual to MEC. Price e. Now suppose that the EPA revises their MEC estimate to: MEC = 0.001Q. Find the socially efficient equilibrium. Plot this in the graph below. Rubber Tires $100 100 $0 Quantity in 1,000s f. Calculate and compare the Total Damage at both the Private Equilibrium and the Social Equilibrium g. Briefly comment on the two damage functions you used to analyze this economic scenario. Which one do you think is more realistic? Why? Price
Integrate the given vector valued functions with respect to parameter,t.Jul 23 2021
Which of the following is included in the set of situational factors for effective leadership identified in path-goal theory?[A]Organization structure[B]Formal authority ...Jan 02 2018
dạy +y=1 - cos(x) d.x2 y(0) = 0) = y(1/2) д? f(x, 2) +f(x, 2) = (х – 2) Әr2 y(0) = () = y(7/2) f(x,x) = - cos(2) sin(x) x z y(0) = 0 = y'(0)Solve the following diffe...May 09 2021
What is the insurance company’s net exposure in Swiss francs? What is the insurance company’s risk exposure to foreign exchange rate fluctuations? How can the insuran...Nov 25 2019
A 1000 kg machine is mounted on four identical springs of total spring constant K and negligible damping. The machine is subjected to a harmonic external force of amplitu...Jun 03 2020
I was just browsing through the internet and downloaded a program that was supposed to be like a photo/video editing thing but it wasn't anything. I then just tried unins...Mar 30 2020
Finding a Total DifferentialIn Exercises 37–40, find the total differential.Aug 07 2021
Some liquid acetaldehyde (C2H4O) is put into a 5L flask. All of the air is removed before the flask is sealed. The flask sits at room temperature (25°C), where the vapor ...Apr 07 2020
True or false? Inbreeding can increase the frequency of a harmful allele in a population's gene pool.Jun 05 2021
Assume the balance in Prepaid Insurance is $2,500 but it should be $1,500. The adjusting journal entry should include which of the following? a. Debit to Prepaid Insur...Aug 24 2020