TAILIEUCHUNG - Microeconomics and foundations (Seventh edition): Part 2

(BQ) Continued part 1, the document Microeconomics and foundations (Seventh edition): Part 2 has contents: Public goods and common resources, markets with private information, consumer choice and demand, consumer choice and demand, monopolistic competition,. and other contents. Invite you to refer. | How can we limit climate change Externalities When you have completed your study of this chapter you will be able to 1 Explain why negative externalities lead to inefficient overproduction and how property rights pollution charges and taxes can achieve a more efficient outcome. 2 Explain why positive externalities lead to inefficient underproduction and how public provision subsidies and vouchers can achieve a more efficient outcome. MyEconLab Big Picture 241 242 Part 4 MARKET FAILURE AND PUBLIC POLICY MyEconLab Snapshot Externality A cost or a benefit that arises from production and that falls on someone other than the producer or a cost or benefit that arises from consumption and that falls on someone other than the consumer. Negative externality A production or consumption activity that creates an external cost. Positive externality A production or consumption activity that creates an external benefit. EXTERNALITIES IN OUR DAILY LIVES An externality is a cost or a benefit that arises from production and that falls on someone other than the producer or a cost or a benefit that arises from consumption and that falls on someone other than the consumer. Before we embark on the two main tasks of this chapter we re going to review the range of externalities classify them and give some everyday examples. First an externality can arise from either a production activity or a consumption activity. Second it can be either a negative externality which imposes an external cost or a positive externality which provides an external benefit. So there are four types of externalities Negative production externalities Positive production externalities Negative consumption externalities Positive consumption externalities Negative Production Externalities Burning coal to generate electricity emits carbon dioxide that warms the planet and other chemicals that pollute the atmosphere. Logging and the clearing of forests destroy the habitat of wildlife and also .

• Kinh tế học
• Foundations of microeconomics
• Monopolistic competition
• Consumer choice
• Common resources
• Markets with private information
• The economic problem
• Getting started
• Global markets
• Global economies
• Fairness of markets
• Government actions in markets
• Global markets in action
• Demand and supply
• Public goods
• Consumer choice and demand
• Perfect competition
• Economic inequality
• Efficiency and fairness
• Government actions
• Private information
• Social structure
• The mass media
• Understanding sociology
• Sociological research
• Social interaction
• Dividend policy
• Working capital management
• International aspects
• Financial management
• Introducing economics
• Government intervention
• Background to demand
• Profit maximising under perfect competition
• Product differentiation
• Factor markets
• Market structure
• Financial cryptography
• Data security
• Financial data security
• Deterring online advertising fraud
• Privacy preserving information markets
• Data hemorrhages
• Private intersection of certified sets