Assume the production of a good causes a negative externality. In the market equilibrium, the marginal consumer values the good
at_______.
1 answer:
Answer:
less than the social cost of producing it
Explanation:
A negative externality is a cost that is suffered by a third party as a result of an economic transaction. In a transaction, the producer and consumer are the first and second parties, and third parties include any individual, organisation, property owner, or resource that is indirectly affected. Externalities are also referred to as spill over effects, and a negative externality is also referred to as an external cost. Some externalities, like waste, arise from consumption while other externalities, like carbon emissions from factories, arise from production. For example, If we consider a manufacturer of computers which emits pollutants into the atmosphere, the free market equilibrium will occur when marginal private benefit = marginal private costs, at output Q and price P. The market equilibrium is at point A. However, if we add external costs, the socially efficient output is Q1, at point B. At Q marginal social costs (at C) are greater than marginal social benefits (at A) so there is a net loss. For example, if the marginal social benefit at A is £5m, and the marginal social cost at C is £10m, then the net welfare loss of this output is £10m - £5m = £5m. In fact, any output between Q1 and Q creates a net welfare loss, and the area for all the welfare loss is the area ABC. Therefore, in terms of welfare, markets over-produce goods that generate external costs. In the market equilibrium, the marginal consumer values the good less than the social cost of producing it.
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Answer:
See the explanation for the answer
Explanation:
1. Find attached of the structure chart.
2. The first phase in the unit test plan includes testing each data entry program or feature using both true and invalid data and testing each system-generated document. The next step will be the evaluation of integration. It is important to compare and check programs or functions that create or modify flies used by other programs with those other programs or functions that create or modify flies used by other programs. This would involve testing of all relationships and multi-table queries in the database environment. Ultimately, all software and all system support features, including backup and recovery procedures, must be checked together in a system check.
3.
TO: SCR Support Staff and Users
FROM: [Student name]
SUBJECT: Installation of TIMS
We need to agree on an installation plan as the deadline for implementation of TIMS approaches.
Jill Martin and I will provide practical training to all members of the SCR team who will help the TIMS campaign. We will also work with the Systems Group to move our current test environment into the operating environment. This task will include conversion of data, loading of live data and installing the system on workstations of the client.
All system functions performed in the test environment have been successfully executed, so we are looking for a smooth change in phase operation.
Make sure your email is reviewed multiple times a day. The training schedule will be posted later this week, and if there are conflicts with your assigned training times, I will need to know immediately. It's about to start the grand final.
TOPICS TRAINING METHODS
Introduction of system and Tutorials
overview of objectives.
Startup, log-in, and shut User manual
down procedures
System options and commands Group training
System error messages Demonstrations and discussions
Screen details Hands-on experience
System output Question and answer session
Explanation of system reports, Review a list of FAQ
summaries, etc.
4.
Changing the TIMS system presents some problems. Since the new system is aimed at a single location with multiple activities and functions, it may not be attractive for the phased and pilot operation. Parallel operation is possible, using current data to test the new system for some period of time before the new center becomes operational. Even this method would be less than ideal because the new system is closely integrated with all training activities, records and reports.
Although SCR did lesser-scale training, the new training center is essentially a start-up operation. A form of direct cutover is often the only alternative in this type of situation. Using test data and extensive system testing, users and developers can raise the level of trust to an acceptable point. First, it is necessary to convert all existing data, load it into the new system and use it as test data. In case of system problems, all source documents should be retained and all procedures for hardware, backup and disaster recovery should be thoroughly tested.
