Yes, people who do not smoke cigars are bothered by the odor of the cigar, but the reality is that the cigar companies do not have to pay the cost of dirtying the air of the people who don 't smoke. Therefore the people who do not smoke incur the cost in the form of respiratory illnesses. For instance, if private constructing is impossible, then the externality or the consequence will be more cigars to be produced and consumed; because the cigar company owners and managers are not required to take account of the external cost that the odor of cigar smoke is imposing on other individuals. Therefore, the market price of cigars will stay low for the public because the buyers will be able to buy more.
a. Use a diagram of the market for the pesticide to illustrate the implications of a failure of orange producers’ costs to reflect the social costs of groundwater contamination.
b. Use your diagram from part (a) to explain a government policy that might be effective in achieving the amount of orange production that fully reflects all social costs.
The pesticide market diagram from part (a), illustrates that the government can implement an effluent fee or pollution tax to the orange growers; the third-parties have created an externality arises because the application of pesticides on orange trees is causing harmful contamination of groundwater. The annual application of the pesticide for the orange growers is essential to the production of oranges but not to society. For this reason, the effluent fee policy is effective in achieving the amount of orange production because it will charge the polluter for the right to discharge the contamination...
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... reason for this is because public schools provide educational services at a price below the market as long as they receive the subsidy funds from taxpayers. If private schools admit the students at a below–market net tuition, it will cause a lack of improvement in students performances because private schools will only provide educational services according to the amount of government subsidy funds for those services. Whereas, if the government simply provided students with grants to cover the current market tuition at a private school because private will not be restricted by the government subsidy and will provide more educational services to the student. For instance, it matters when schools receive payments from consumers because parents who are unhappy with the quality of services provided; have the choice of transferring their children to a different school.
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