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What is governments role in controlling externalities in the American economy?
An externality, in the field of economics, is a cost or benefit that affects something which had nothing to do with incurring that cost or benefit. For example, environmental disasters impact the economy greatly, and the government can undertake efforts to minimize and prevent their effects.
What is internalising externalities?
Externalities can be internalised by bringing the cost home to the producer or consumer so that they have to pay for clean-up.
Which is an acceptable market method of regulating negative externalities?
cost benefit analysis which is the procedure by which a government decides whether to go ahead with a project after factoring in all the costs and benefits, both private and external is a good method of regulating negative exsteralites
If you have total cost and total benefit how do you get marginal cost and marginal benefit?
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
What is internalising the externality?
Externalities can be internalised by bringing the cost home to the producer or consumer so that they have to pay for clean-up.
What is the governments role in controlling externalities in the American economy?
An externality, in the field of Economics, is a cost or benefit that affects something which had nothing to do with incurring that cost or benefit. For example, environmental disasters impact the economy greatly, and the government can undertake efforts to minimize and prevent their effects.
What is governments role in controlling externalities in the American economy?
An externality, in the field of economics, is a cost or benefit that affects something which had nothing to do with incurring that cost or benefit. For example, environmental disasters impact the economy greatly, and the government can undertake efforts to minimize and prevent their effects.
What is internalising externalities?
Externalities can be internalised by bringing the cost home to the producer or consumer so that they have to pay for clean-up.
What does the phrase internalizing an external cost mean?
forcing producers to factor into their production costs, the cost of the externalities created in the production of their outputs
Which is an acceptable market method of regulating negative externalities?
cost benefit analysis which is the procedure by which a government decides whether to go ahead with a project after factoring in all the costs and benefits, both private and external is a good method of regulating negative exsteralites
If you have total cost and total benefit how do you get marginal cost and marginal benefit?
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
What is internalising the externality?
Externalities can be internalised by bringing the cost home to the producer or consumer so that they have to pay for clean-up.
What would be the clean-up costs for an oil spill in water?
It would depend on the extent of the oil spill. If it is a major spill in the ocean then it would cost a bomb.
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
When will a cost benefit analysis be done?
when will a cost benefit analysis be done
What characterizes cost-benefit analysis?
Cost-benefit analysis is rational.
How much will it cost to fix the gulf oil spill?
to much
