I need an economic expert only to solve multi choice quizes

Quiz Note: It is recommended that you save your response as you complete each question. Question 1 (1 point)

Assume that the demand curve for an environmental good is fully coincidental with the marginal social benefit function and can be described as MSB = MPB = 12-3q, where q refers to the quantity of the good. Assume that the marginal private cost function can be described by MPC = q, and that marginal social costs are always triple the marginal private cost. Determine an equation for Marginal Social Cost (MSC).

Question 1 options: MSC= 3+q

MSC= 3q

MSC = 3(12-3q)

MSC = MPC +3q

Save Question 2 (1 point)

This is a continuation of Question 1.

Assume that the demand curve for an environmental good is fully coincidental with the marginal social benefit function and can be described as MSB = MPB = 12-3q, where q refers to the quantity of the good. Assume that the marginal private cost function can be described by MPC = q, and that marginal social costs are always triple the marginal private cost.

Using the information given find out the market equilibrium level of quantity.

Question 2 options: q=2

q=3

q=0

q cannot be determined

Save Question 3 (1 point)

This is also a continuation of Q1 and Q2.

Assume that the demand curve for an environmental good is fully coincidental with the marginal social benefit function and can be described as MSB = MPB = 12-3q, where q refers to the quantity of the good. Assume that the marginal private cost function can be described by MPC = q, and that marginal social costs are always triple the marginal private cost.

Calculate the socially optimal level of output.

Question 3 options: q = 1

q=3

q=0.5

q=2

Save Question 4 (1 point)

This is a continuation of Q1, 2 or 3. Fee free to use the correct answers from the previous three questions to solve this one.

Assume that the demand curve for an environmental good is fully coincidental with the marginal social benefit function and can be described as MSB = MPB = 12-3q, where q refers to the quantity of the good. Assume that the marginal private cost function can be described by MPC = q, and that marginal social costs are always triple the marginal private cost.

Calculate the total efficiency loss or deadweight loss at the market equilibrium

Question 4 options: $2

$3

There is no deadweight loss

$4

Save Question 5 (1 point)

Suppose the state is trying to decide how many miles of a very scenic river it should preserve. There are 200 people in the community, each of whom has an identical demand function given by P=10-0.5q, where q is the number of miles preserved and P is the per mile price he or she is willing to pay for q miles of preserved river. (Hint: treat this river as a public good. )

If the marginal cost of preservation is $750 per mile, how many miles would be preserved in an efficient allocation?

Question 5 options: 8

5

10.6

12.5

Save Question 6 (1 point)

A market failure can be resolved in the following ways

Question 6 options: Pigouvian taxes or private bargaining

there is no solution for market failures

increasing the equilibrium price

decreasing the equilibrium price

Save Question 7 (1 point)

Which one of the following is one of the most important assumptions underlying the Coasian bargaining solution to market failure?

Question 7 options: The victim must be given the property rights

The parties involved must be present in the same geographical location

The government should play an active role in the negotiation process

Transaction costs must be zero or negligible

Save Question 8 (1 point)

The Perrier and Vittel case study shows

Question 8 options: how imposing Pigouvian taxes can solve the externality problem

that a public good, such as, clean water, can only be provided by the government

a successful application of Coasian bargaining

transaction costs are too high for private bargaining to take place

Save Question 9 (1 point)

Which of the following are found to be true in the context of eco- certification of Ecuadorian bananas (in reference to the article on Eco-certification of Ecuadorian bananas? (There are more than one correct answers to this question)

Question 9 options: In many cases, the certified farms were not conforming to the Ecuadorian environmental laws

Certified farms significantly outperform the non-certified farms

Non-certified farms significantly outperform the certified farms

In many cases, the non-certified farms were not conforming to the Ecuadorian environmental laws

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Question 10 (1 point)

A good with a negative externality will be _____ by an unregulated market. Public goods are typically ______ due to there being a __________

Question 10 options: undersupplied; oversupplied; negative externality

oversupplied; undersupplied; free rider problem

oversupplied; oversupplied; free rider problem

oversupplied; undersupplied; negative externality

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