Get college assignment help at uniessay writers Hi I have a assignment question, that I would like some help in. I tried tackling the problem but I have no chapter in my textbook with reference to this question, while my prof just touched on the basics of this topic. Here is the question below. (I have also attached part 1 of the assignment) 1. Recall the model of pollution abatements. Suppose there are two firms producing steel and pollution on one-to-one basis. Let Q1 denote Firm 1’s pollution level and Q2 Firm 2’s pollution level. The marginal damages from pollution externality (MD = MEC) is given by MD = Q = Q1 Q2. Firms can abate pollution by taking abatement actions. Assume that each abatement action reduces the same amount of pollution. Marginal abatement cost (MAC) is given by MAC1 = 120 – 2Q1 and MAC2 = 120 – Q2. a. Note that without any environmental policy, each firm would choose its pollution at a level where its marginal abatement cost is zero. Calculate such pollution levels, Q1E and Q2E.(Q1 in notation of E, etc) b. Let us denote each firm’s abatement action by X1 and X2. Rewrite the above problem in terms of abatement action. (Hint: use Q1 = Q1E – X1 and Q2 = Q2E – X2 to express MD and both MAC in terms of X1 and X2.) c. Identify the socially efficient level of pollution abatement level for each firm. d. Calculate the efficient pollution tax that induces the socially efficient level of total pollution Q*. e. Show that the pollution quota of Q*/2 for each firm is inefficient. f. Show that the tradable pollution quota (or permits) is efficient. Describe the nature of pollution permit trade
Submit a 250- to 300-word response addressing the following points: o Explain how the strength of the economy as a whole could affect the marginal benefits and the marginal costs associated with a decision to purchase a home. o How does the removal of the tax deduction on mortgage interest affect the housing market? o How do other changes in government spending and taxes affect your decision?
(b) (15 points) The sequential lending strategy, which Grameen Bank adopted, is considered to have an advantage over the simultaneous lending strategy, in which all group members are given loans at the same time. Compare and contrast two strategies and explain the disadvantage of the simultaneous lending strategy. Be mindful of the group lending scheme which Grameen Bank adopts. (150 words)
Please ignore any grammer mistake, this is a draft, but please assist with validating my answer and add any additional info. Thanks in advance. 5. You have been asked to produce a forecast for your company’s new product (bottled water). List and briefly discuss 4 factors you would consider before giving the forecast. Pg 143 a. A forecast must be consistent with other parts of the business. For instance, a sales forecast of 10% growth must ensure there are sufficient manufacturing facilities and labor force to produce this increase. Is there anything that could prevent you from realizing the revenues and net profit you project? Product lines and storage. For example if the company is sharing the product line of its cola bottling line with its water product. What is the cost and time of retooling the same product line when the company switches products. How much does changing filters and purging the liquid lines cost. Also how much does the extra storage for the bottle water cost. b. A forecast should be based on knowledge of the relevant past. Where are potential customers located? Is the marketer who is carrying our water do they have health conscience customers, how did other similar companies do when entering water or health conscience drinks in their product line into the same or similar market. Does another marketer have a more water friendlier customer base then our current marketer? Can Global Foods enter into another product trade alliance to meet the more health conscience market without violating existing contracts. c. A forecast must consider the economic and political environment as well as any potential changes. How do you know they need or want your product or service? In current news, will the universal health care allow any credits or deductions for a healthier life style. Is the general population becoming health conscience. Does the economy allow for surplus income to pay for bottle water compared to free tap water? d. A forecast must be timely. Who, exactly, are the potential customers? Who will pay or afford bottle water. Can we retool or create a product line for bottled water in time for the summer weight loss efforts. Can we take advantage of an opportunity to capture some residual profit in conjunction with a health organization campaign or a competitor bottle water campaign.
13. In designing its marketing channel, Chairs for Every Occasion has moved from a make-and-sell view of its business, which focused on productive inputs and factory capacity as a starting point for marketing planning, to a sense-and respond view, which begins instead with the needs of target customers. With this new view, Chairs for Every be Occasion is developing its ________. A) supply chain B) wholesaler chain C) demand chain D) logistics E) vertical marketing system
You are the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees. The Consumer Affairs Subcommittee is interested in your testimony about the pricing practices of your company because a recent news magazine reported that your markups are 250 percent. The Environmental Subcommittee is interested in exploring ways to reduce the pollution associated with your paper mill. in particular, you know that one senator on the Environmental Subcommittee will ask you to justify why the firm should not be charged a per-unit tax on the firm’s output to compensate for the pollution it discharges into a major river. Devise a game plan for responding to the question that will be raised in the joint session of the subcommittees.
Enrodes is a monopoly provider of residential electricity in a region of northern Michigan. Total demand by its 2 million households is Q^d = 1,000 – P, and Enrodes can produce electricity at a constant marginal cost of $2 per megawatt hour. Consumers in this region of Michigan have recently complained that Enrodes is charging too much for its services. In fact, a few consumers are so upset that they’re trying to form a coalition to lobby the local government to regulate the price Enrodes charges. If all the consumers of this region joined the coalition against Enrodes, how much would each consumer be willing to spend to lobby the local government to regulate Enrodes’s price? Do you think the consumers will be successful in their efforts? Explain.
China’s entry into the World Trade Organization (WTO) is likely to create more competition between local and foreign firms, as well as provide China greater access to the market for exports. This is particularly true in the market for rubber since China is the world’s second largest consumer of rubber. According to the WTO, China plans to eliminate its import quota on rubber over the next five years. What impact is the import quota reduction likely to have on the price of rubber and the quantity of rubber exchanged in China? What implication will the elimination of the quota on rubber have on China’s social welfare?
4. The craft unions (electricians, carpenters) possess considerable power to raise wages than do industrial unions (automotive workers, steel workers, etc. How would you explain this in terms of demand elasticity?) A union can increase prices because there will be only a small decrease in demand and total revenue will increase. When price elasticity of demand is unit elastic, changing the price will not change total revenue, since price and quantity will generally change in lock step with each other. Unions can set standards or rules in which unions can enforce to its members. Craft unions are usually self employed and serve a specific geographic region. Industrial unions coordinate between a large industry, price elasticity could impact price differently, if demand elasticity is too great people will not buy cars and industries may not be to afford the overhead.
What do you think are the changing aspects of the economics of the following industries: Telecommunications Retail merchandising Higher Education Airlines
Get college assignment help at uniessay writers Canada’s forestry industry (composed mainly of those involved in the lumber industry) directly employs about 370,000 workers and indirectly employs an additional 510,000 people in support services. Forestry products account for nearly 3 percent of Canada’s GDP and 14.1 percent of its exports. Lobbyists for the U.S. International Trade Commission and the U.S. Department of Commerce alleging that the Canadian government provided a subsidy to its lumber producers and caused harm to U.S. lumber and timber producers. As a result of these concerns, one U.S. lobbyist proposed the imposition of a 15 percent excise tariff on all Canadian forestry products. Determine the likely impact of the proposed 15 percent excise tariff on the equilibrium price and quantity of lumber exchanged in the U.S. Would domestic consumers and producers benefit from the proposed tariff? Explain.
A manufacturer of electronics roducts is considering entering the telephone equipment business. It estimates that if it were to begin making wireless telephones, its short-run cost functions would be as shown below: (a) Plot the average cost, average variable cost and marginal cost on a graph. (b) Suppose the average wholesale price of a wireless phone is currently $50. Should the company enter the market? What would be the company’s profit or loss if it were to enter the market? (c) Suppose the firm does enter the market and that, over time, increasing competition causes the price of telephones to fall to $35. Under these circumstances, what would be the firms optimal output, price and profit (or loss)?
Explain how a firm’s production function is related to its marginal product of labor, how a firm’s marginal product of labor is related to the value of its marginal product and how a firm’s value of marginal product is related to its demand for labor.
What are the differences between productive and allocative efficiency? What conditions must be present for productive and allocative efficiency to be achieved in the ‘real’ world? How does industry entry and exit promote efficiency?
Which of the following statements is true of a monopolist?
What is a negative aspect of taking a lobbying cause public?
Please do number 5 ( the first 5 not the last 5 )
GreatReception, Inc., is a single-price monopolist in the market for cell phones. Assume that there is no fixed cost, and both marginal cost and average total cost are constant. Use the calculator below to answer the following questions. Tool tip: Use your mouse to drag the quantity line (the dashed drop line with the red arrows) left and right. The values in the boxes will change accordingly. To change the value in the Quantity box on the right side of the calculator, click in the box and then type. The graph and any related values will change accordingly. Note that once you leave the page or click Submit Answer, this calculator will refresh to its initial values. 5.2. What is GreatReception’s profit when producing at the profit-maximizing output? A. $4,900 B. $4,200 C. $9,800 D. $9,100
The Point Elasticity formula for finding Price Elasticity of Demand is ((Q2-Q1)/Q1) / ((P2-P1)/P1). The convention is to express Price Elasticity as an absolute value (always positive!), thus we evaluate whether the measure is > 1 (elastic); = 1 (unitary elasticity); or <1 (inelastic). It is not expressed as a percentage or dollar value. It measures consumers' sensitivity to price changes by calculating the ratio of the change in quantity demanded that occurs in response to a change in price. Using the Point Elasticity formula, please calculate the Price Elasticity of Demand (Ed) given the following demand schedule: Quantity Demanded Price 20 $5.00 15 $6.00 How do we interpret the elasticity measure in this example? Is the Price Elasticity of Demand elastic, inelastic or unitary elasticity?
3. Simultaneous Equations. Gates Equipment, Inc., manufactures a wide range of parts for the agricultural equipment industry. The company is currently evaluating the merits of building a new plant in order to fulfill a new contract with a large export concern. The alternative to expansion is to use additional overtime, reduce other production, or a combination of both. The company will add new capacity only if the regional economy appears to be expanding. Forecasting the general economic activity of the United States is therefore an important input to the decision making process. The firm has collected data and estimated the following relations for the U. S. economy: Last year’s total profits (all corporations): Pt-1 = $1,400 billion This year’s government expenditures: G = $2,800 billion Annual consumption expenditures: C = $800 billion 0.8Y u Annual investment expenditures: I = $950 billion 0.75Pt-1 Annual tax receipts: T = 0.25 GDP National income Y = GDP – T Gross domestic product GDP = C I G Forecast each of the above variables through the simultaneous relations expressed in the multiple equation system. Assume that all random disturbances average out to zero.
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