Question

• Do some research on your externality, find something specific and recent to address.
  • For instance, "environmental pollution" or "education" are too broad. Noise pollution due to fireworks on 4th of July or the measles outbreak/vaccine are more specific topics.
• Describe the externality, identify whether it is positive or negative, and explain why.  
• Relate your externality to the following concepts (include graphs)
  • Describe the effect on the market using relevant MB, MC, MSB, and MSC curves. Use arrows to indicate direction.
  • Describe the Efficiency Loss (Deadweight Loss). Illustrate the effiency loss on your graph.
  • Describe how the effects of a tax or subsidy could mitigate the efficiency loss. Show the resulting consumer/producer surpluses & tax burden.
• Conclusion: What are the the pro's and con's on the proposed solutions and what are your thoughts? If a personal example, create your own scenario on how you might fix the problem and the possible pro's and con's.
• Post a brief overview of your topic along with your link to your presentation slides

example of an externality: driving to and from work every day

Answer 1

Fireworks on the 4th of july drastically cause air pollution,boosting exposure to potentially dangerous pollutants for millions of non-paticipating observers.

The level of particulate matter, or small pollutants like dust,dirt,and soot present in the air, increased by 42% on average across the U.S. on the 4th of july, according to the study.

Extended exposure to particulate matter can lead to coughing,wheezing,and also causes headaches,high blood pressure,pneumonia, heart or lung disease, and long-term exposure is connected with early death, according to the EPA.

A 2015 study from the National Oceanic and Atmospheric Administration examined the spike across the country and found that on average, the concentration of particulate matter in the air is about 42% greater on the evening of july 4th than the preceding and following days.

According to the same 2014 study,fireworks also release "substantially elevated levels" of metals like lead and antimony,also elevated levels of toxic chemicals like benzene and toluene.

Further these metals get deposited in waterways or on the land, and we know that those can harm environmental systems that are sensitive to different pollutants.

Every firework relies on a series of chemical reactions to achieve a certain size,color,or loudness. These chemicals are packed into a tube called an aerial shell thats packed with chemicals and explosives. It cause bad air quality.

Many of the most-polluted sites coincide with the country's most populous metropolitan area. Los Angeles, Chicago and Seattle, for example all experienced levels of paticulate matter that exceeded the EPA's safety threshold.

The good thing about fireworks is that they are usually temporary and can be easily avoided.

*Shut your windows and doors:- If you are at home and live close to an area that has regular fireworks shows, close windows and doors right before the fireworks start.

*Voice your concerns to officials:- Share your experiences and concerns with lawmakers regarding health effects of fireworks.This can help change policy by limiting fireworks shows or ending them altogether.