Greater air pollution from car production leads to increased rates of asthma and infant mortality, imposing costs on the rest of society. The inverse demand for cars is given by the function P = 75 − 3q while the private costs are given by the function P = 10 + 2q. Additionally, we know that each car imposes a $10/unit external cost on society. How many more cars will be produced in the market equilibrium versus the social optimum?
a) 2
b) 4
c) 5
d) 1
e) 3

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

The new york stock exchange is an example of what type of stock market?

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]