Which of the following is true if more people choose to be free-riders? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a more of the public good will be available for paying riders. b the public good may never be provided. public goods will quickly be privatized. d public domain technologies become more difficult to obtain. The following figure shows the social costs, private costs and demand curve associated with a product. Which of the following statements is correct? Social Cost Private Cost Cemand Q1 O Quantity P2 P1 Po - - - - - - Demand - Q1 Quantity Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a To get firms to consider the external costs, the government should impose a tax of P2 - P1. b To get firms to consider the external costs, the government should impose a subsidy of P2 - P1. C To get firms to consider the external costs, the government should impose a tax of P2 - PO. d To get firms to consider the external costs, the government should impose a subsidy of P2 - PO.Which of the one can be a possible solution to avoid tragedy of the commons? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Taxthe owners of the resource. b Prevent anyone from using the resource. Reduce the marginal social benefit of the resource. d Establish private ownership of the resource. The following table shows the demand and supply schedule with or without public costs for a firm. What is the equilibrium price and quantity when only private costs are taken into account? supplied Supplied without | with public public costs Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Price=$55,Quantity=30 b Price=$40, Quantity =55 Price=3$30, Quantity=20 d Price =530, Quantity =80 The following table shows the demand and supply schedule with or without public costs for a firm. What is the equilibrium price and quantity when both private and public costs are taken into account? supplied Supplied without | with public public costs Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Price=$55,Quantity =30 b Price=$40,Quantity = 55 Price=$30,Quantity=20 d Price=$30,Quantity=80 \fThe following table shows the current level of toxic waste dumped by two firms and the marginal cost of cleaning up additional 10 lbs increments of waste. Suppose the government has imposed a pollution tax of $7 per 10 lbs of waste. Calculate the reduction in total pollution and the total cost to the firms of doing so? Firm A Firm B Current waste (Ibs) 60 80 Cost of reducing by 1st 10 lbs $5 $2 Cost of reducing by 2nd 10 lbs $10 $4 Cost of reducing by 3rd 10 1bs $15 $6 Cost of reducing by 4th 10 lbs $20 $8 Cost of reducing by 5th 10 lbs $25 $10 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 40 lbs, $28 b 40 lbs, $17 40 lbs, $22Cost of reducing by | 2nd 10 lbs $10 Cost of reducing by Cost of reducing by Cost of reducing by 5th 10 Ibs $25 select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. $4 a 40lbs, $28 b 40 lbs, $17 40lbs,$22 d 60lbs,$30