¿De qué color es la casa donde vive el presidente de los Estados Unidos?

Your scratch paper is due now. Take pictures of your work or scan your scratch paper using your printer (this is the best format to use if you have this option on your printer).   Send your scratch paper to fagine@crc.losrios.edu   This work will allow your Professor to evaluate your understanding of the material we have covered over the semester.   It will take me about a week to grade the long problems. As soon as I have graded the final exams I will post the scores in Canvas.    Enjoy your break and I hope to see you in another Econ course next semester.   Best Wishes,Dr. Fagin

Shifting the supply and demand curves: Each diagram shows a shift of a demand curve and a supply curve. The arrows indicate the direction of the shift of the curve.   Figure 3.6   Which panel of Figure 3.6 represents the changes in the market for new cars when the government mandates new equipment (catalytic converters) be installed in every new car to reduce emissions and consumers incomes increase?

Based on the graph below what price and quantity correctly describes the social equilibrium if there are negative externalities associated with the production of this product. There are two MC curves (one for the MC from the private firms perspective and one for the MC from societies perspective)– You will have to decide which MC curve goes with each case before you will be able to answer this question.         

This question is a required question for the Final exam.   Long Problem #1. Four firms currently operate in a small town. They emit a total of 16 tons of pollution collectively. The city population has voted on a recent ballot to reduce emission coming from the four firms to 8 tons (a reduction of 8 tons).   Emissions Reductions Total Cost for Emission Reductions in $’s In Tons Firm A Firm B Firm C Firm D 1 15 18 9 12 2 30 42 21 45 3 54 69 36 90 4 90 105 57 180   Using the Table above answer the following questions.   Show all your calculations to get full credit and be sure to provide an explanation.   (a) The city has ordered the four firms to reduce emissions by 2 units each. How much will this cost? Show how you calculated the total cost.    (b) After finding out how much it would cost to have each firm reduce emissions by two units it has been suggested that there may be a cheaper way to reduce emissions by 8 tons. How much would this cost—this is the least cost solution. The lowest cost to achieve the goal? Show how you calculated the lowest cost.    (c) An economist who lives in this small town has suggested to avoid all the hassle of deciding which firms should reduce emissions the city should just impose a charge (tax) of $23.00 for each ton of pollution emitted. Do you agree or disagree with the economists’ decision? Clearly explain why you disagree or agree with the economists recommendation. If you agree, why will this tax ($15.00) work? If you disagree, suggest a tax that will work.   (d) A recent broadcast of an early morning talk show had a guest who uses both an electric car and an electric train to get to work in Los Angeles. He stated that because of this his travel to and from work is non-polluting. Explain why you agree or disagree with this statement. 

Which is not correct?

The use of housing prices to estimate the value of environmental attributes such as air quality is most commonly associated with the ______?

What is the marginal social benefit (in dollars) of the second fireworks display in Table 13.3?

Calculate the Present Value (PV) of a future payment of $60.50 that is paid two years in the future. The discount rate is 10 percent each year.

What is the marginal social cost (in dollars) of the second fireworks display in Table 13.3?