MicroeconomicECONOMICSOFTHEENVIRONMENT文件材料.ppt

17;Negative Externality: Pollution;Negative Externality: Pollution;Negative Externality: Pollution;Negative Externality: Pollution;Negative Externality: Pollution;External Cost and Output Figure 17.1 illustrates the MC curve, the MSC curve, and marginal external cost as the vertical distance between the MC and MSC curves.;At the market equilibrium, MSB is less than MSC, so the market produces an inefficient quantity of the good. At the efficient quantity of the good, MSC = MSB. With no regulation, the market produces too much of the good and creates a deadweight loss.;Negative Externality: Pollution;Figure 17.3 illustrates how the establishment of property rights achieves an efficient outcome. The producer of the good bears all the costs. The market outcome is efficient because at the quantity of the good produced MSC equals MSB.;Negative Externality: Pollution;Negative Externality: Pollution;Negative Externalities: Pollution;Negative Externalities: Pollution;Figure 17.4 shows how a pollution tax equal to the marginal external cost can achieve an efficient outcome. At the quantity of the good produced MSC = MSB. The government collect a tax revenue.;Negative Externality: Pollution;Negative Externality: Pollution;The Tragedy of the Commons;The Tragedy of the Commons;The Tragedy of the Commons;The Tragedy of the Commons;The Tragedy of the Commons;The Tragedy of the Commons;The Tragedy of the Commons;The Tragedy of the Commons;The Tragedy of the Commons;The Tragedy of the Commons;18;You know that wage rates vary a lot: A server at McDonald’s earns $8 an hour. Demetrio Luna who cleans the windows of Houston’s high-rise buildings makes $12 an hour. Richard Seymour, who plays for the New England Patriots, collects a cool $25 million a year. What determines the wages that people earn? The price of oil became a big issue in 2008 as new record highs were set. What determines the prices of the natural resources that we use to produce goods and services? ;The Anatomy of Fac