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What exactly is a Pigovian tax? Give some instances of how the Pigovian tax can be used to tackle environmental issues.
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- Draw a standard supply and demand diagram for televisions, and indicate the equilibrium price and output. a. Assuming that the production of televisions generates external costs, illustrate the effect of the producers being forced to pay a tax equal to the external costs generated, and indicate the equilibrium output. b. If instead of generating external costs, television production generates external benefits, illustrate the effect of the producers being given a subsidy equal to the external benefits generated, and indicate the equilibrium output.Give some instances of environmental issues that the Pigovian tax can be used to resolve.What happens in the market for a good that pollutes the air when it is manufactured if government decides to tax its production? Will this reduce the amount of air pollution?
- The use of gasoline creates a negative externality through air pollution. What is the size of the deadweight loss (DWL) caused by the externality? Select ALL letters that are part of the DWL Priake 200 OAThe use of gasoline creates a negative externality through air pollution. What is the size of the deadweight loss (DWL) caused by the externality? Select ALL letters that are part of the DWL Priate 700 OA OHProvide examples of environmental problems that can be solved with the Pigovian tax.
- How the subsidies can solution the externalities problemWhat happens in the market for a good that pollutes the air when it is manufactured if government decides to tax consumers when the product is purchased? Will this reduce the amount of air pollution?How can external effects change supply and demand in electricity generation (Please provide a drawing)
- Draw a graph of water pollution as a negative externality and explain itSome economists argue that early child care generates an external benefit to society. Consider the following supply-and-demand graph for early childhood education. A. How does the market equilibrium differ from what is best for society? B. If the government was going to provide a per-unit subsidy in this market in order to achieve the socially optimal outcome, how large of a subsidy would the government ne to provide? C. How much in total would the government need to spend in this market each month to achieve a socially optimal outcome? Price ($ per month) Supply $1,300 $1,200 $1,000 $900 Marginal social benefit Marginal private benefit (demand) 23 26 Quantity (millions per month)Externalities Do you think that there would be external effects assocociated with water from a uranium mine leaking into Kakadu National Park? If so, what would be the nature of the external effects? Can you think of policies that might deal with each external effect (that is, improve social wellbeing)?
