Please answer the following questions. Be as complete and concise as possible. 1. Identify the following scenarios as ei

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Please Answer The Following Questions Be As Complete And Concise As Possible 1 Identify The Following Scenarios As Ei 1 (108.04 KiB) Viewed 12 times

Please Answer The Following Questions Be As Complete And Concise As Possible 1 Identify The Following Scenarios As Ei 2 (77.35 KiB) Viewed 12 times

Please answer the following questions. Be as complete and concise as possible. 1. Identify the following scenarios as either positive or negative externalities. a. You are a beekeeper. The neighboring farm uses a pesticide that harms your bees. b. You moved to the country for some peace and quiet. Your new neighbor is a hunter and does target practice all day long. c. The Excelsior scholarship allows more people to attend college, raising the community's standard of living. d. The car at the stop light next to you is blasting Country music. 2. African nations have struggled with poachers killing elephants for their valuable tusks for many years. One way of protecting the elephants is for the government to create a habitat for the elephants and fining anyone who enters the habitat or harms the elephants. Another alternative is to set up a national park with 10 designated villages outside the park which can be designated as official tourist centers. Here, the villages can offer tourists guided tours of the parks so they can see the elephants. What sort of incentives do the local villagers (who are often very poor) face in each of these plans? Which plan do you think will be more successful in sustaining the elephant population? 3. A city currently emits 16 million gallons (MG) of raw sewage into a lake that is beside the city. The following table shows the total costs (TC) in thousands of dollars of cleaning up the sewage to different levels, together with the total benefits (TB) of doing so. Benefits include environmental, recreational, health, and industrial benefits.

16 MG 12 MG 8 MG 4 MG 0 MG TC Current 50 150 500 1200 TB Current 800 1300 1850 2000 a. Using the information in the table, calculate the marginal costs and marginal benefits of reducing sewage emissions for this city b. Use the information you just calculated and conduct a marginal analysis to determine the optimal level of pollution for the city. Explain why the economically optimal level of pollution is greater than OMG.