34. John raises bees to polinate his orchard, a couple of bees which escaped end

Question

34. John raises bees to polinate his orchard, a couple of bees which escaped ended up polinating his neighbor's orchard so:

a. john's neighbor has recieved an external cost of john's bee keeping

b. john's neighbor has recieved an external benefit of john's bee keeping

c.john's neighbor has recieved an internal cost of john's bee keeping

d.none of the above

35. external costs are:

a. borne by individuals other than those who incurred them

b.borned by the public but incurred by the government

c.another term for implicit costs

d.borne by the government but incurred by the public

39. the optimal quantity of ail pollution is:

a. found by setting the quantity of air pollution equal to the quantity of water pollution

b.a meaningless concept since monetary values cannot be attached to problems associated with pollution

c.whatever amount of pollution is produced by the profit maximizing firm

d. found by equating the marginal benefits from further reductions in pollution and the marginal costs of further reductions in pollution

40. technological changes that makes it easier to produce in a "cleaner" fashion would cause:

a. the marginal cost curve of pollution abatement to shift left increasing the degree of air quality

b.the marginal benefit curve of pollution abatement to shift left increasing the degree of air quality

c.the marginal cost curve of pollution abatement to shift right increasing the degree of air quality

d.the marginal benefit curve of pollution to shit right increasing the degree of air quality

43. if pollution is bad, why do we still use pollution-causing resources such as coal and oil to generate electricity?

a. the transaction cost of pollution is too low

b.governements lack the political will to enforce the use of pollution free resources

c.pollution is only a private cost

d.the cost of using pollution free resources to generate power in many circumstances is much higher than generating the same power through conventional pollution causing means

Explanation / Answer

34. Option B is correct.

John's neighbour benefitted from the escaped bees as they polinated his orchard, which gave him positive externality.

35. Option A is correct.

External cost are those which are borne by the third party which is not involved in the transaction or activity.

39. Option D is correct.

Marginal cost of air pollution is different from its private cost. So the point where the MR = MC, optimal level of pollution would be attained.

40. Option C is correct.

With a technological progress, the marginal cost would reduce and the curve would shift to the right, increasing the degree of air quality.

43. Option D is correct.

The usage of non-conventional resources are much higher than the conventional ones, which led to production through conventional resources and generate pollution.

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