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15. lelfare Analysis 13 (ID: 105. 07.3 lc nuns) If the government allowed a free market in organs for transplant there would be a. a decrease in the shortage of organs for transplant. Ob. a decrease in producer surplus. QC. an decrease in consumer surplus C)d. an increase in the waiting period for transplant organs. Save & Continue Continue without saving 19. Taxation - deadweight loss, calculation The equilibrium price in the competitive market for tablets is $100 and the quantity sold is 1000 units. The government decides to tax the buyers $10 per tablet. As a result quantity drops to 900. The tax revenue and deadweight less, respectively, are $9000 and $500 0 $9000 and $100 0 $1000 and $100 0 $5000 and $500 Save & Continue Continue without saving 27. Externality - conceptual example When you are talking to your friend in class during a lecturer you are producing a 0 Positive extemality by diverting your friend's attention from the lecturer. O Negative extemality by utilizing your mind instead of spacing out. Negative extemality by disturbing other in class who want to listen to the lecture. 0 Positive extemality by rescuing your bored friend. Save & Continue Continue without saving 28. Externality - conceptual example Jana maintains a beautiful garden in front of her house and everyone in the community enjoys its aesthetic beauty. This is an example of O negative externality since might be using too much water to maintain the garden. O positive externality since the social benefits of the garden exceeds its private benefit. O I don't have enough information to answer this question. O positive externality since she saves money by using the fruits and flowers she grows. Save & Continue Continue without saving29. Externality - private versus social cost/benefit If you pick up trash littered in Aldrich Park, it benefits not just you but provides benefits to all those who now enjoy a cleaner park. In this case, O The social value of picking trash is higher than the private value and therefore, you are unlikely to pick up the trash unless an incentive is provided. O The social value of picking up the trash is equal to the private value you (and most people) derive and therefore, trash will be picked up by everyone without any incentives. The social cost of not picking up the trash is higher than the private cost and therefore, you are likely to pick up the trash without any incentives. O The private value you derive from picking up the trash is equal to the private cost. Therefore, there are many people like you who will pick up the trash. Save & Continue Continue without saving31. Externalities - pollution, conceptual An enthusiastic environmentalist initiates a viral signature campaign demanding thatf in order to alleviate global warming, the United Nations Convention for Climate Change should adopt a goal of zero carbon emissions. Why would you, as would most economists, disagree with the adoption of such a zeroemissions goal? 0 There is no benefit to be gained by society from zero carbon emissions. 0 Firms making private decisions is the most efcient way to determine carbon emission levels. 0 The environment has degraded so much that no policy can stop the end of the world. The opportunity cost of zero carbon emissions is much higher than the benet to be gained from it. Save 8. Continue Continue without saving Attempts: Score: / 1 38. Types of Goods - understanding definitions Which of the following is true about different types of goods? O Common resources often face the problem of free-riding. O The consumption of public goods involves neither rivalry nor excludability. O Club goods are non-excludable and hence rivalrous in consumption. O One person's use of private goods never diminishes other person's use of that good. Save & Continue Continue without saving
