d. c. no one owns it Empower women and improve maternal health C) The United Nations Environment Programme According to Elinor Ostrom's view of The Tragedy of the Commons: b) add to its labor force in order to perform cleanup tasks. b. a college education Once, someone told a story so wild it was turned into a feature film. a) supply; left 88. ebay.com dominates the on-line auction business because sellers want to go where thebuyers are and buyers want to go where the sellers are. Which is NOT a goal of a sustainable economic system? Slightly to your right? b. d) Collective interests must not be met. 100 units D) An incentive-based approach based on profits b) The supply curve shifts to the left. Union organizers, venture capitalists, grad students and amateur historians they could make the flywheel turn. One thing Kevin Munger pointed out to me is that Twitter users are running Bails experiment on one another constantly. Nick Biltons 2013 book, Hatching Twitter, was disorienting reading for me, because it took me back to a place I thought I knew well: San Francisco, 2006. Los otros cuentos son de fantasa con bastante humor. ); it has also strained the sense of conviviality that made Twitter feel like a party in the first place. Based on the figure, Sp (MPC) represents the private supply curve of a particular type of nail polish, whose manufacturer is associated with the release of toxic chemicals into the atmosphere. In the discussed example before, what percent of the collection is priced $40\$40$40 or over? \text{Accumulated depreciation} & \underline{(10,000)} & \underline{0}\\ As the Trump years progressed, this evolved into a broader concern about disinformation, misinformation and whether and how Twitter should seek to stop them. I could afford to take the anthropological view. My bar chart contains more information than yours, because my bars are three-dimensional. Ill have to take his word for it, because Ive never known a life in journalism free from the gravitational pull of Twitter. some air pollutants such as carbon dioxide have an equal effect nearby and further away. The election of Donald Trump made Twitter an extremely fraught environment. supporters earn more income (INCOME) than SS (MSC) includes the costs of that toxicity borne by others. But its hard to detect vibes unless you put a signal out there first; theres no way to grasp the thing from outside looking in. Only 14 percent of his output is his own material, original stand-alone tweets posted to the timeline; half of his posts are retweets of stuff other people posted, and the remainder are quote-tweets or replies to other tweets. a. b. You can go private, which basically ends it, though in a way that looks like admitting defeat. d) taxation. b. overproduce because the social cost of production exceeds the private cost 36. decrease the equilibrium price of the good produced in the market. 20. I felt like Bill Paxton at the end of Twister strapped in and able to see down the barrel of this thing and admire its beautiful, treacherous contours. c. Second-hand smoke. A market has a small number of buyers and sellers. a) reduce its labor force because its cost of production has increased. An externality is an unanticipated consequence experienced by unrelated third parties. Which of the following is an example of an externality: d) Jose pays Amy $350 for her inconvenience, and keeps the dog. 2. Sam buys a dilapidated house, renovates it, and increases the property values of all houses in the neighborhood. The pollution will be created by those most willing and able to pay for the right to pollute. c. d) the price will be set at the socially optimal level of pollution. a. a. d. Price caps. a) there is no role for the government. The Coase theorem says that efficient resource allocation may be attained through bargaining under certain conditions. With tradable permits, regulators do not have to know how much tax to charge. Thus, in two days, I put myself on track to make 210 posts a month. He says that usage has gone up, but because he has taken the company private, we only have his word on that. Requiring firms to use a particular type of pollution-control technology, such as smokestack scrubbers or catalytic converters. They published reams of lightly redacted emails, showing regular correspondence between Twitters trust-and-safety team and the F.B.I., and other organs of the state, which apparently spend a considerable amount of time scrutinizing individual Twitter accounts. b. a. The world just sort of falls away when youre looking at the feed. d. These were the early days of the Big Data era, and the idea was that within all the chatter could be found some hidden rhythm, a form of crowd wisdom. II. Should we regard it as pure coincidence that he spent all those years on Twitter, with an enormous following and the sonar capabilities of an Ohio-class submarine? Bail was especially curious about the filter bubble, the idea that social media platforms encircle users with opinions they share, causing them to be less amenable to arguments from the other side. The profits realized from hiring more employees to increase production. Since Dick always texts while he drives, he is generating a _______ to others, resulting in a shift of the supply curve to the ______. c. \end{matrix} d. 160 units Individuals will use the commons up to the point where marginal benefits equal marginal social costs. Increased pollination rates of surrounding crop plants as a result of local beekeeping. Your roommate going on a diet. EPA marginal social permits. Water pollution. . Concept by Pablo Delcan. The citizens of North Carolina will suffer higher emissions as a result of the emissions trading program. \text{Cash} & \text{$\$ 10,000$} & \text{$\$ 0$}\\ In meeting sulfur emissions regulations, the Tennessee Valley Authority (TVA), which produces electricity, buys sulfur emission permits from Wyoming. a) lie below and to the left of the demand curve that incorporates both private and social benefits. All of the following are examples of externalities EXCEPT A. a construction worker purchasing an automobile that reduces his commute time to work. B) It will increase price and increase quantity demanded If you work with someone who gets a flu shot during flu season, you are less likely to catch the flu. Its possible the party will stretch on until sunrise, when the more sensible guests will return. 11. You can no longer believe that this platform offers an unobstructed view to the outside world, if you ever did, now that his hands have so thoroughly smudged up the glass. The pest control meausre that is the least harmful will be implemented. (6). B) Green taxes on environmentally harmful activities or emissions I. If you pick a thousand people at random, you might not find many of us, and if you do, our derangement will be smoothed out into averages and obscured by medians, blinding you to the fact that the bulk of your Twitter reading comes from a tiny minority of the population that shares this peculiar deficiency with me. b. d) demand; right. c. renewable resources if they are taken and replaced at rates that provide a steady supply. a. Its a book I read 20 years ago. c. You can see all sorts of relics from Dorseys prebillionaire social life in and around the city: trips to Coachella and Point Reyes, arty photographs of street signs. e. total social cost equals total social benefit, a. marginal social cost equals marginal social benefit, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer. Heck recalls it being full of you know, 70-year-old guys, like, retired boat salesmen and dentists. He cant remember for sure, but he believes this is where they eventually found the 1980s TV star Scott Baio, who was and remains a conservative culture warrior. a) Bargaining must not be possible. There was also Weird Twitter, an unfortunate label that refers as much to a specific group of people as to the sensibility they shared. The competitive price is lower and quantity higher than the socially efficient point. How has the Internet affected competition in the area of financial services? A) Most of the renewable energy is used in the industrial, residential, and commerical sectors Compare Democratic and Republican Party the number of free riders in the industry. C) A market-driven approach Which of the following is an example of an externality: a) A long line of people at an afternoon matinee at the movie theater. d. equals the value of the output level that maximizes the firm's profit In his book, Bilton recounts how Dorsey initially considered and dismissed using audio as a medium because it would be impossible to use at a nightclub. While mowing the lawn. All of the following result in negative externalities, EXCEPT: d) demand; right 28. II. Coasian regulations. When the true marginal benefit of consuming a product with positive externalities is taken into consideration, the demand curve will shift upward by the amount of the social benefit. d. allowing individuals to sue freon producers if CFC emissions exceed a government-set standard. But because my posts go out to so many more accounts than even an active user like Joe Sixposts do by a factor of 100 Id still do more to shape reality on the platform even if I posted less frequently than he did. a. each individual in the society owns it Could the Coase theorem resolve this problem? Which is the exception? He has written about the effort to count the countrys billionaires, the TV show The Sopranos, the writer and director Mike Judge and the professional skateboarder Tyshawn Jones. C) Use of resource extraction over the use of ecosystem services A) Is an approach to sustainability that considers economic, environmental, and social factors The funds collected by the government will be enough to compensate any individuals harmed by the pollution. And though it seems unlikely that Twitter itself will disappear, the powerful mechanism it became over the years the one that made an often unprofitable company so valuable in the first place; the one that allowed a collectively conjured illusion to transform the real world seems to be sputtering and squealing, and all the noise is making it hard to communicate with the demon within. \text{Cost of goods sold} & \text{$\$ 110,000$}\\ d. Taxing producers based on the external costs created by their pollution, thus internalizing external costs. An advantage tradable permits has over emissions taxes is that: c. Its hard to look back on nearly a decade and a half of posting without feeling something like regret. c. the common pool problem One of these people told me, and I dont think he was kidding, that an article of his went viral by fax machine. 34. D) Decreased malnutrition Requiring automobiles to have catalytic converters. The box was a closed system, separate from the outside world, but it could nevertheless do work on anything it was connected to. Nor had these broader gender corollaries that men dont cook, that women dont like Star Wars so much as crossed my mind. c) the price of the permits will be the price at which the supply of permits of one firm will be equal to the demand for permits from the other firm. c. between 100 and 160 units c) reducing efficiencies to zero. AGGRESSIVECORPORATIONIncomeStatementFortheyearendedDecember31,2018NetsalesExpenses:CostofgoodssoldOperatingexpensesDepreciationexpenseTotalexpensesNetincome$110,00050,00010,000$200,000170,000$30,000, AGGRESSIVECORPORATIONBalanceSheetsDecember3120182017AssetsCurrentassets:Cash$10,000$0Accountsreceivable60,0000Inventory40,0000Long-termassets:Equipment100,0000Accumulateddepreciation(10,000)0Totalassets$200,000$0LiabilitiesandStockholdersEquityCurrentliabilities:Accountspayable$20,000$0Interestpayable10,0000Long-termliabilities:Notepayable100,0000Stockholdersequity:Commonstock40,0000Retainedearnings30,0000Totalliabilitiesandstockholdersequity$200,000$0\text{AGGRESSIVE CORPORATION}\\ \text{Balance Sheets}\\ \text{December 31}\\ \begin{matrix} b. The pig farm industry is perfectly competitive and causes pollution to the surrounding air and water. A demand curve that incorporates only private benefits of consumption when positive externalities exist would: https://www.nytimes.com/2023/04/18/magazine/twitter-dying.html. Explain each of your choices. Use your browser's back button to return to your test results. a. Choices (B), (C), and (D) are all examples of externalities. Thats what makes it fun: Who doesnt want to be the person who can make everyone laugh at a dinner party? E) Full cose pricing, Which is a United Nations organization concerned with the environment? c) DefC d. Suppose a state discovered chemical compounds in their water. Empower women and improve maternal health. Economists prefer command-and-control regulations to incentive-based pollution programs. And I, and others, and maybe you, too, would have to contend with what wed really been doing the whole time: staring into a box, hoping to see it move. When using the traditional command-and-control approach to environmental regulation, the government attempts to: Expert Solution Want to see the full answer? Which of the following results in a positive externality? When consumption of a good or service produces benefits or costs that are not reflected in the market price for the good, this is known as a(n). Eventually, well scrape the plates, load the dishwasher and leave the pans to soak (Hey, cool Dutch oven are those the twin suns of Tatooine?). Whats disconcerting is how easy it was to pass all the hours this way. B) Is a method for encouraging sustainability that includes incentives, regulations, and penalties In 2011, I wrote an essay for a website called The Awl, and the very thing that Carr described happened: The article, which was about the McRib, went viral on Twitter, putting my work in front of editors at places like The Times. a) Pigouvian a. effluent-offset regulations. To Dorsey, the fact that Twitter creates a record of the world would be an incidental byproduct of all this status-sharing. The difference is that instead of the market equilibrium quantity being too much, the market will generate too little of Q. Let's look at an example. d. Musk has done many things to Twitter, both the app and the business, during his six months as chief executive and owner. Twitter quickly figured out that its value lay in its ability to surface conversations: What was the world talking about? Instead of mailboxes, it operates through a system of containers disguised to look like trash cans; the only one of these the protagonist finds is somewhere South of Market, just blocks from where Twitter would be born. In any event, the barrier between work and goofing around grew dangerously thin, especially as more influential people and entities arrived. increase the equilibrium quantity of the good produced in the market. Women like Star Wars. Twitter follows you, mentally, and besides, anything can be brought back there for judgment. And in the mix, you can find screenshots of early Twttr, as it was known. 24. Munger is highly pessimistic about our ability to use Twitter to debate or deliberate anything of importance. c) the regulator sets the optimal tax rate. Later that spring, a Time cover story noted that Twitter users had begun using the site as a pointing device and sharing longer-form content. Select the correct answer below: O lower levels of crime O a cleaner environment o better health outcomes for the population O a higher income for a person who received a college degree from Harvard Show transcribed image text Expert Answer 100% (5 ratings) Last option is not an externality it is the benef View the full answer e. cover pollution costs in the product's price, b. overproduce because the social cost of production exceeds the private cost, If in market equilibrium the marginal social cost of producing a good exceeds the marginal private cost, e. the answer cannot be determined from the information given, Firms that emit toxins into the air tend to In 2010, a young Canadian named Stefan Heck joined Twitter in search of Vancouver Canucks news but soon fell in with what would become the Weird Twitter crowd. One compelling theory comes from Chris Bail, a sociology professor at Duke, who began studying Twitter in the years when these debates were raging. c. Your roommate going on a diet. e. marginal private cost divided by marginal external cost, d. marginal private cost plus marginal external cost, Society's total cost of producing a good None of these people were wrong, exactly. a. not enough of the product is being produced One of Bails chief observations about Twitter is that its prismatic qualities generate a strong effect on users: Its feedback makes very clear who your friends and enemies are. Referring to the balance sheet, this net income represents a more-than-acceptable 15% rate of return on assets of$200,000. There are concerns about the value of permits in the future. And the tweet is just text, right, and its static.. b) increase b. b. A. a construction worker purchasing an automobile that reduces his commute time to work. d. is usually caused by government intervention into private markets But if you were good at the game, it could be good for you, both on Twitter and off. An external benefit (or positive externality) benefits third parties. . \text{Long-term liabilities:} & \text{ } & \text{ }\\ requiring car producers to install new air conditioners that do not use freon. Pesticides will be employed only after nonchemical methods have been explored. a) abDC I. b. And, of course, no one involved is having fun at a dinner party at any point in this process; everyone is, like you, probably alone, on the computer, experiencing the feeling we used to know as boredom. c) The demand curve shifts to the left. Jamie Chung is a photographer who has worked on nearly a dozen covers for the magazine. A businessman named Janis Krums was on a ferry to New Jersey when the boats captain announced that a plane was down in the water, and they were going to see if they could help. Acid rain produced by power plants. Btw, hes a Marine. Other replies cant be printed here. \text{Interest payable} & \text{$10,000$} & \text{0}\\ Which of the following is an example of a positive externality? C) Buying and selling of pollution permits III. . d) A student voluntarily asks a question during class. What Weird Twitter posters had in common, beyond being (mostly) funny, was a special brain damage that granted them access to the hidden frequencies of the internet. By the next year, the Times media reporter David Carr was writing an ode to the site, correctly predicting it was more than a fad and lauding it for both its relative civility and its obvious utility for information-gathering. All the following are examples of phishing except for: a. Free-rider problems. c) Property rights must be known. There was a roaster made to look like Han Solo frozen in carbonite ($450) and a Dutch oven with Tatooines twin suns on it (Our Dutch oven promises an end result thats anything but dry unlike the sun-scorched lands of Tatooine; $900). \text{Total liabilities and stockholders' equity} & \underline{\underline{\$ 200,000}} & \underline{\underline{\$ 0}}\\ Do the data allow us to conclude that Republican Eventually, the situation that obtained was altogether stranger than Williams or Dorsey could have imagined. Crazy.. The analysis of positive externalities is almost identical to negative externalities. In 2008, it began plumbing its depths to identify trends. Emissions taxes allow firms with higher costs of polluting to pollute more than firms with lower costs of polluting. Your Twitter profile was also your calling card, potentially a life raft to a new job. air pollution. C. computer software.D. If a good is produced up to the point where marginal social benefit equals marginal social cost, then: \underline{\text{Assets}} & \text{ } & \text{ }\\ B. a factory producing air pollution that leads to acid rain in the neighboring forest area. The pollution will be created by those least willing and able to pay the damages. Individual will use the commons beyond the socially efficient point. But if that seems like a clean victory for Williams, it wasnt quite. a) the regulator does not have to determine how much to reduce pollution levels by. We could ask similar questions about Musk, whose increased exposure to the site has coincided with his transformation from beloved entrepreneur to substantially less beloved culture warrior. Musks takeover of the platform has not only strained the dinner-party metaphor (a new host comes in and dominates the conversation, demanding money from you and accusing the hosts from before of being F.B.I. 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