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1、第五章 外部性P1002. In the following figure, the number of parties that Cassanova gives per month is measured on the horizontal axis, and dollars are measured on the vertical. MCp is the marginal cost of providingparties and MBp is Cassanovas marginal benefit schedule from having parties. a. Graphically,
2、show how many parties Cassanovawill host.b. Suppose there is a fixed marginal external benefit, $b, per party to Cassanovas friends.Illustrate this on your graph.c. What is the socially (no pun intended) optimal level of parties? How could the SocialCommittee induce Cassanova to throw this number?d.
3、 On your graph, show the optimal subsidy per party and the total amount paid to Cassanova.Who gains and loses under this plan?答案：2.a. The number of parties per month that would be provided privately is P.b. See schedule MSBp.c. P*. Give a per-unit subsidy of $b per party.d. The total subsidy=abcd. “
4、Society” comes out ahead by ghc, assuming the subsidy can be raised without any efficiency costs. (Cassanovas friends gain gchd; Cassanova loses chd but gains abcd, which is a subsidy cost to government.)7. The Finger Lakes region of New York State attracts tourists who wish to sample its superbwine
5、s. In recent years, hog-raising farmssome with more than a thousand hogshave takenroot in the region. The smells emanating from the massive amounts of pig manure adverselyaffect the tourism. “Wine and swine, in other words, do not mix” Chen, 2001, p. L1.Imagine that the Little Pigs (LP) hog farm is
6、situated near the Tipsy vineyard. The followingtable shows, for each level of LPs output, the marginal cost of a hog, the marginal benefit toLP, and the marginal damage done to Tipsy: a. How many hogs does LP produce?b. What is the efficient number of hogs?c. The owner of LP gets tired of Tipsys com
7、plaints about her hog farm, and she buys outTipsy. After the merger, how many hogs does LP produce?d. How does the merger affect the sum of the profits earned by LP and Tipsy?答案：7. a. When the Little Pigs hog farm produces on its own, it sets marginal benefitequal to marginal cost. This occurs at 4
8、units.b. The efficient number of hogs sets marginal benefit equal to marginal social cost, which is the sum of MC and MD. At 2 units, MB=MSC=13.c. The merger internalizes the externality. The combined firm worries about the joint profit maximization problem, not the profit maximization problem at ei
9、ther firm alone. Thus, the LP farm produces 2 units, the socially efficient amount.d. Before the merger, the LP farm produced 4 units. By cutting back to 2 units, it loses marginal profit of $3. On the other hand, the Tipsy Vineyards profits increase by $20. Thus, profits increase by $17 altogether.
10、8. The private marginal benefit for commodity X is given by 10 _ X, where X is the number ofunits consumed. The private marginal cost of producing X is constant at $5. For each unit ofX produced, an external cost of $2 is imposed on members of society. In the absence of anygovernment intervention, h
11、ow much X is produced? What is the efficient level of productionof X? What is the gain to society involved in moving from the inefficient to the efficientlevel of production? Suggest a Pigouvian tax that would lead to the efficient level. Howmuch revenue would the tax raise?答案：8. Private Marginal Be
12、nefit = 10 - XPrivate Marginal Cost = $5External Cost = $2Without government intervention, PMB = PMC; X = 5 units.Social efficiency implies PMB = Social Marginal Costs = $5 + $2 = $7; X = 3 units.Gain to society is the area of the triangle whose base is the distance between the efficient and actual
13、output levels, and whose height is the difference between private and social marginal cost. Hence, the efficiency gain is (5 - 3)(7 - 5) = 2.A Pigouvian tax adds to the private marginal cost the amount of the external cost at the socially optimal level of production. Here a simple tax of $2 per unit
14、 will lead to efficient production. This tax would raise ($2) (3 units) = $6 in revenue.9. Suppose that two firms emit a certain pollutant. The marginal cost of reducing pollution foreach firm is as follows: MC1 _ 300e1 and MC2 _ 100e2, where e1 and e2 are the amounts (intons) of emissions reduced b
15、y the first and second firms, respectively. Assume that in theabsence of government intervention, Firm 1 generates 100 units of emissions and Firm 2generates 80 units of emissions.a. Suppose regulators decide to reduce total pollution by 40 units. In order to be cost effective, how much should each
16、firm cut its pollution?b. What emissions fee should be imposed to achieve the cost-effective outcome? How much would each firm pay in taxes?c. Suppose that instead of an emissions fee, the regulatory agency introduces a tradable permitsystem and issues 140 permits, each of which allows the emission of one ton of pollution. Firm 1 uses it political influence to convince the regulatory agency to issue 100 permits to itself and only 40 permits to Firm 2. How many
