MCD 2020 Microeconomics 作业代写
MCD 2020 Microeconomics
Trimester 2, 2013
Research Assignment
Details of task: This assessment is to be completed in groups of 2-3 students and submitted on Monday in Week 9.
Word limit: 1000 words
Value: 10%
Total marks: 30
Question 1 – 15 marks
-
Highlight the differences between the following types of goods:
· private goods,
· club goods,
· common resources and
· club goods.
(4 marks)
-
Define the terms “free rider” and “tragedy of commons”
(2 marks)
-
Higher education is often cited as an example of a positive externality in consumption on a market for high education. Why do you think that high education is a positive externality in consumption? Is there another example of a positive consumption externality you can think of?
MCD 2020 Microeconomics 作业代写
Draw a fully labelled diagram of the market for high education clearly showing the effect that the externality has on the market. In your answer identify and discuss:
· The price and quantity in a competitive market.
· The size of the externality.
· The optimum/efficient price and quantity.
(2+1+3+1+1+1=9 marks)
(4+2+9=15 marks)
Question 2
15 marks
Your task is to research a current issue that involves a negative externality in production. Select 1 media article published after April 1 2013 and use microeconomic analytical skills that you have learnt so far in this course to analyse what have happened in this market. Does the article suggest a potential remedy for the externality? If there is no suggestion and you were in charge of government policy in the market how would you remedy this externality? Choose only
one remedy that in your view would be the most appropriate and explain how this remedy would work. Use a fully labeled diagram(s) and reference and attach a hardcopy of the article that you have selected.
MCD 2020 Microeconomics 作业代写
