Which answer below best fits this statement: A situation where you earn money is a ___________.

An activity that is done for enjoyment in addition to one’s work is known as __________________________.

Business that is conducted electronically on the internet is known as an  ________________.

This is a file upload question. Please hand-write your solution in a piece of paper, take a picture and upload your file (or send me through Canvas Inbox or at haruko.muratainouye@chaffey.edu). Typed answers will not be accepted!   The table below shows possible combinations of economic output and reduction of pollution, depending on what kinds of environmental regulations you choose. Possible combinations of economic output and environmental quality Combinations Economic Output Pollution Reduction A 800 10% B 600 40% C 400 40% D 400 60% E 400 70% F 100 90% Based on the data above, answer the following:  Draw the Production Possibilities Frontier (PPF) with environmental quality on the horizontal axis, measured by the percentage reduction of pollution, and with the quantity of economic output on the vertical axis. Which combinations (points) shows productive efficiency? Justify your answer! Which combinations (points) shows productive inefficiency? Justify your answer! Between points C and E, which one is better? Justify your answer! Between points C and D, which one is worse? Justify your answer!

This is a file upload question. Please hand-write your solution in a piece of paper, take a picture and upload your file (or send me through Canvas Inbox or at haruko.muratainouye@chaffey.edu). Typed answers will not be accepted!   Consider the market of sweaters in Neverland. The domestic market demand (Qd) and market supply (Qs) curves are given by the following equations, where P is the price and Q is the quantity: 

This is a file upload question. Please hand-write your solution in a piece of paper, take a picture and upload your file (or send me through Canvas Inbox or at haruko.muratainouye@chaffey.edu). Typed answers will not be accepted!   This is an optional question. Answer correctly and earn up to 4 points to be added to your Final Exam score (if your score is lower than 100)! The table below shows the supply and demand conditions for a textile factory, which waste water add many pollutants to a nearby river.   Demand and supply schedule for a textile factory Price Qd QS 200 10,000 4,000 300 9,000 6,000 400 8,000 8,000 500 7,000 9,000 600 6,000 9,500 700 5,000 9,800 800 4,000 9,900 Based on the table below, what is the equilibrium price (P*) and equilibrium quantity (Q*)? Suppose that new environmental laws are passed and all textile producers must reduce the number of pollutants found in  their waste water. In order to do so, they must add one more water cleaning step in their production process before disposing the water in the nearby river. Given these conditions, which curve will shift? The supply or the demand curve? To which side this curve will shift? To the right or to the left? Justify your answer! Based on your answer on part (b) complete the table below with the new values for Qd or Qs that will vary by 2,000 units (for instance, if you answered that demand shifted right, your new Qd will increase by 2,000 for each price level). What is the new equilibrium price (P*) and the new equilibrium quantity (Q*)? Is the new P* and Q* higher or lower compared to part (a)? Justify your answer! Demand and supply schedule for a textile factory Price Qd QS New Qd  OR New Qs   200 10,000 4,000 300 9,000 6,000 400 8,000 8,000 500 7,000 9,000 600 6,000 9,500 700 5,000 9,800 800 4,000 9,900

The figure below illustrates positive externalities of education. Based on the figure, match the right with the left side correctly: Note that:  MPB: marginal private benefits MSB: marginal social benefits MC: marginal costs

This is a file upload question. You have to hand-write your solution in a piece of paper, take a picture and upload your file (or send me through Canvas Inbox or at haruko.muratainouye@chaffey.edu). Typed answers will not be accepted!   Cooler Green Inc. is developing technology to make AC systems that use less electricity. If successful, the technology will significantly reduce the amount of energy that is wasted due to product inefficiencies. If the firm sells only in response to the market price, the quantity shown in the third column of the table below is supplied. If the firm were also to receive the broader social benefits of the new technology, the willingness to supply is shown in the fourth column. Supply and demand schedule for AC system Price Quantity Demanded Quantity Supplied (private) Quantity Supplied (with social benefits) $150 800 500 710 160 740 540 740 170 680 580 770 180 620 620 800 190 560 660 830 200 500 700 860 According to the table, answer the following: If the firm were to receive a price based only on private benefits, what would be the equilibrium price and quantity? Justify your answer! If the firm were to receive a price based on both private and social benefits, what would be the equilibrium price and quantity? Is this price and quantity higher or lower when compared to part (a)? Why that’s the case? Justify your answer!

 What structure is labeled “8”? 

The positioning of this cat (lying down on it’s belly with its back facing up) is referred to as .