Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below. The public's willingness to pay for the 4th acre of parkland is Price (S) 12 12 10 CO 8 2 6 Price ($) 12 12 10 8 2 Price (S) 12 10 2 8 6 0 2 4 6 8 10 Citizen X's Demand 0 2 4 6 8 10 Citizen Y's Demand 0 2 4 6 8 10 Citizen Z's Demand $14 $26 $8 520

How market equilibrium is found with Pollution Abatement Subsidy? Also draw graph and interpret it.

The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. Price ($) 275 250 225 200 175 150 125 100 75 50 25 0 DMBMB sed 10 20 30 40 50 60 70 80 90 100110120 Irrigation (acres) Tools (2) MCpvt MC social

1. Solve for the graph and aggregate demand of the city’s 30 residents as functions of the number of trees. Label intercepts slopes and intersection of two sections. 2. Assume that the city can obtain each tree at a constant marginal cost of 200. Solve the socially efficient numbers of trees for the city to purchase.

You are asked to estimate the demand curve for Lake Mead recreational area by Las Vegas residents. a. Show on a graph what this demand curve would look like. Make sure to label properly your graph. Explain your graph. b. A new Clark County program improves the quality of Lake Mead beaches. Show on your graph how this affects the demand curve. Explain. Highlight the area representing the benefits of the program to Las Vegas residents. Explain. What is a potential limitation of this approach? Explain. c. d.

1.Explain specifictly how to overcome and solve the major problem of Mcdonal's company from polluting the water? 2. Explain specifictly how to stop the staff from throwing unethically waste inside the water? 3. Explain what the company will do if the staff still throwing unethically waste in the water?

What is Mauricio's budget for monkeys and unicycles?

what will happen in the marketfor tomatoes if a new study is released that shows tomatoes contain antioxidants that may prevent cancer

Q4. (a) If you are a firm owner who is operating in the perfect competitive market, you areproducing socially efficient outcome. Does it imply that your profits are zero? If you become amonopolist then why do you deviate from the socially efficient outcome? b) In Delhi, as the winter season is approaching, how will it affect the demand function and themarket equilibrium of sweater market? Now after that if the price of wool increases how will themarket equilibrium be affected?

cap-and-trade and windfall profitsA city called Seoul is suffering from high concentrations of mercury in the air, caused by burningcoal in power plants. There are two of these plants close to the city. The city’s mayor wants touse cap-and-trade to reduce emissions to a reportedly “safe” level of 60 tons. The two firms havethe following marginal benefits of emissions: MB1 = 100 – 2e1, MB2 = 25 – 0.5e2.a. How much mercury will each firm emit? What allowance price will prevail in themarket?Firm 2 hires a smart lobbyist who convinces the government that its profits are relatively low andthat it therefore deserves a generous allowance allocation. The government agrees and allocatesa1 = 20 allowances to firm 1 (for free) and a2 = 40 allowances to firm 2 (for free).b. What are the firms’ profits? Do any of the firms earn windfall profits? [Hint: compareprofits with and without regulation.] Windfall profits have been sharply criticized by consumer advocacy groups and politicians.c. What can…