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Unformatted text preview: Notes File Edit t Format View Window Help 97% Wed 1:29 AM QO 88 Aa Lo Qv Search iCloud Living In America Highways All iCloud 12/8/17 Documentary Pro... Notes Ch. 10 Notes Externalities sdfvbnm Econ Notes Ch.12 FE 11/1/2017 12/1/17 11/13/2017 Recently Deleted Notes Government action is sometimes necessary to improve upon market outcomes; government can improve upon this. On My Mac Sibelius Notes To the point: Notes 11/28/17 Pizza - Ctri+T o... Notes 1. Why do some markets fail to allocate resources efficiently? Google 2. How can government policies improve market allocation? You say i got homework 3. What kind of policies work best? Notes 11/22/17 How i got home... sdfvbnm Externalities: the uncompensated impact of one person's actions on the well-being of a bystander. Econ Notes 10 MT2 .Negative Externality- advise impact 11/5/17 10/25/2017 Notes Positive Externality- beneficial impact Econ Notes 9 MT2 Aluminum plants emits smoke which is a health risk. 11/5/17 A monopolist is a.... Notes -For each unit of aluminum produced, the social cost includes the private costs of the aluminum producers plus the costs to those bystanders- (The social cost curve is above the supply curve because it takes into account the external costs imposed on society by aluminum producers. The difference between the two curves: Econ Notes Ch. 7 MT2 the cost of pollution emitted) 11/5/17 Total Utility- The... Notes A Tax Can Internalize The Externality. Econ Notes 8 MT2 Internalizing the externality- altering incentive so that people take account of the external effects of their actions. 11/5/17 Sunk Cost Fallacy Notes Positive Externalities Brain Storming Intervi... . Education- a better worker, higher wages... and positive externalities... more informed voters; lower crime rates; uses of tech. 10/25/17 Due 2 weeks fro... Notes private market. The social value is greater than the public good. The social value curve lies above the demand curve. Thus the socially optimal quantity is greater than the quantity determined by the Audio Notes 10/17/17 Midterm Review A social optimum... to get there requires a subsidy. Notes Education is subsidized Writing For Media Ch.10 10/17/17 Writing Assignm... Externalities Notes 11/3/2017 Audio Notes Summary: Negative externalities lead markets to produce a larger quantity than is socially desirable. Positive externalities lead markets to produce a smaller c 10/5/17 Sample Rate: 44.... desirable. To remedy the problem, the government can internalize the externality by taxing goods that have negative externalities and subsidize goods that ho New Folder Notes Positive Externality: Technology Spillover. -Positive impact to other firms. Tech progress: key to rising living standards! 4 7 4 2 9 6 30 1 4 4 4 1 Q W P X 5 PS S Pr J AU...
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