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UNSW chit chat thread (14 Viewers)
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leehuan
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Re: UNSW chit chat thread 2016
Recall that a negative production or consumption externality is one of which generates an added cost to those not in the market. The demand curve remains the same, however the social supply curve and the market supply curve are now different. The social supply curve adds on the value of the externality, as it is an extra marginal cost we are incurring on a broader scale.
The mayor seeks to maximise the surplus of the entire society, not just within the market. Right now, the market is producing way too much from a societal point of view, which is essentially the externality (it is basically a deadweight loss in its own right). The added surplus the market gets from producing at it's own optimal point is less than the DWL incurred upon the social surplus.
The government is not interested in a shift in surplus, thus a binding price floor is inappropriate. The government wants to eliminate the DWL altogether, thus they tax the externality. Note that upon taxing the externality, the market supply curve is shifted upwards. By shifting the market supply curve up to coincide with the social supply curve, we force the market to produce at a quantity that's most optimal to the society.
Also, usually the mayor responds one day delayed. Do not expect immediate results. And once you impose a tax, remember that your agents' new optimal point of production (where MR = MC) has now been shifted.
If it hasn't changed, passing externality is simply a matter of imposing a tax to cancel out the externality. Because in Playconomics all the externalities are negative.How do you get past externality island on playconomics
Recall that a negative production or consumption externality is one of which generates an added cost to those not in the market. The demand curve remains the same, however the social supply curve and the market supply curve are now different. The social supply curve adds on the value of the externality, as it is an extra marginal cost we are incurring on a broader scale.
The mayor seeks to maximise the surplus of the entire society, not just within the market. Right now, the market is producing way too much from a societal point of view, which is essentially the externality (it is basically a deadweight loss in its own right). The added surplus the market gets from producing at it's own optimal point is less than the DWL incurred upon the social surplus.
The government is not interested in a shift in surplus, thus a binding price floor is inappropriate. The government wants to eliminate the DWL altogether, thus they tax the externality. Note that upon taxing the externality, the market supply curve is shifted upwards. By shifting the market supply curve up to coincide with the social supply curve, we force the market to produce at a quantity that's most optimal to the society.
Also, usually the mayor responds one day delayed. Do not expect immediate results. And once you impose a tax, remember that your agents' new optimal point of production (where MR = MC) has now been shifted.
Re: UNSW chit chat thread 2016
I have tried what you suggested several times with different levels of tax but I still can't seem to hit maximum surplus :/
How you manage to remember that after almost half a sem is amazing ...
I have tried what you suggested several times with different levels of tax but I still can't seem to hit maximum surplus :/
leehuan
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Re: UNSW chit chat thread 2016
Once again, remember that a) the mayor responds one day delayed, and b) you need to adjust the worker's point of production to their new optimal point, i.e. MR = MC.
You may send me screenshots. But i only want the mayor panel
"Different" levels of tax? You only have one level of tax like I said - the value such that the tax cancels out the externality.
Once again, remember that a) the mayor responds one day delayed, and b) you need to adjust the worker's point of production to their new optimal point, i.e. MR = MC.
You may send me screenshots. But i only want the mayor panel
Queenroot
I complete the Squar3
Re: UNSW chit chat thread 2016
I mean the 75c bus trip looks good on paper but idk if I'm gonna saveanything in the long run
I mean the 75c bus trip looks good on paper but idk if I'm gonna saveanything in the long run
Squar3root
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RenegadeMx
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leehuan
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Re: UNSW chit chat thread 2016
__________________
Bloody hell not understanding everything I'm learning is so annoying
Lel I guess
Wow ok
__________________
Bloody hell not understanding everything I'm learning is so annoying
4025808
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Re: UNSW chit chat thread 2016
You don't. Drop it and save yourself some sanity, like I did
RenegadeMx
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Re: UNSW chit chat thread 2016
anyone recommend easy science electives offered in sem1? or piss easy 2nd/3rd year math courses
anyone recommend easy science electives offered in sem1? or piss easy 2nd/3rd year math courses
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leehuan
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Re: UNSW chit chat thread 2016
Waow.You don't. Drop it and save yourself some sanity, like I did
I hear that stuff like astronomy and everyday physics are WAM boosters lol
RenegadeMx
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leehuan
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RenegadeMx
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Re: UNSW chit chat thread 2016
i dont care which 1 i do as long as its easy and dont need to devote much time to it
ye im split between chem1001, psychology 1a and math2241 or some weird courses like optometry, food sci
i dont care which 1 i do as long as its easy and dont need to devote much time to it
Queenroot
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Squar3root
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Re: UNSW chit chat thread 2016
engg1000 if you can do it? Did shit all and got my one and only distinction c:
Intro to food is piss ez but heavy focus on writing
engg1000 if you can do it? Did shit all and got my one and only distinction c:
Squar3root
realest nigga
Re: UNSW chit chat thread 2016
the circuit questions were harder than the ELEC1112 questions I had at the time lol
Stochastix
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