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ECON265-Microeconomics > Chapter 14 > Flashcards

Chapter 14 Flashcards

1
Q

Negative Externalities, 3 kinds?

A

One-To-One , One-To-Many, Many-To-Many

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2
Q

Coast Theory conditions

A

No/Low Transaction cost

Willingness to pay == Willingness to Accept

Two parties in negotiation

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3
Q

One-To-Many issues (does/doesn’t) Needs government Intervention

A

does

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4
Q

many-To-Many issues (does/doesn’t) Needs government Intervention

A

does

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5
Q

Bidirectional externality leads to?

A

Game theory

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6
Q

Multidirectional externality

A

Hurts everybody including yourself

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7
Q

Government Regulation tier list? ?>?>?

A

Tier list: emission trading > pollution tax > command and control

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8
Q

Command-and-control regulation

A

Uniform % of reduction
Not efficient
Not all firms are equality bad

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9
Q

Incentive-Based Regulation

A

Pollution Tax,Emission Trading

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10
Q

Abatement

A

Reduction of pollution

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11
Q

most efficient Abatement

A

Marginal benefit = marginal cost

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ECON265-Microeconomics (17 decks)

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