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[answered] 1. What is consumer surplus? 2. What is producer surplus? H


1. What is consumer surplus?

2. What is producer surplus? How does producer surplus relate to profitswhen firms 1) produce multiple units and 2) have both variable and fixedcosts?

?4. Why do damages from pollution create a market failure only in the casewhere the damages are suffered by those not involved in a transaction

5. In our public goods experiment, what tension existed between individualincentives and group incentives

6. What is the relationship between the public goods experiment and thecommon pool resource experiment?

7. Demonstrate the concept of sustainability using production possibilityfrontiers and community indifference curves.

8. What is the relationship between environmental economics, natural resourceeconomics, and ecological economics?

9. What is meant by the "assimilative capacity" of the environment?1

10. How do we derive the aggregate marginal damages curve? Give an example

.11. What is the relationship between efficiency and equity?

12. What do we mean when we say there is a threshold in marginal damages?

13. When is it reasonable to assume that marginal abatement costs are zerofor the first unit of abatement? Under what market structure would itnot be reasonable to make this assumption? Under this market structurecould it be conceivable that the optimal level of emissions is what the firmwould choose in the absence of regulation?

14. What fundamental difficulties are there in determining the dose-responserelationship between pollution and human health?



What is consumer surplus?

 

Is the difference between the total amount that consumers are willing and able to pay for a good or

 

service and the total amount that they actually do pay. What is...

 


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