Why might daily variations in the market clearing price of recycled plastic induce some firms to call in their workers and pay them wages for their labor services on some days but tell them to stay home on others?

Short Answer

Expert verified

Recovery lowers the amount the fuel utilized, emissions, and rubbish sent off to trash.

Step by step solution

01

Introduction

Polymer are still a fragile, thin, and versatile element that could be easily formed into such a variety of products for such a spectrum of uses. As either a corollary, mechanical synthesis of polymeric is increased substantially throughout the last half century. But, fast usage and discard create considerable global pollution.

02

Given Information

Vast quantities of wasted final polyethylene keep steadily building as waste in landfill as well as other sites around the world because of the monomers' resilience.

03

Explanation

Recovery, which again is arguably amongst the most recent breakthroughs in the polymer field, one of the most useful ways of reducing adverse effects. Recycling lowers the amount fuel oil utilized, carbon emissions, and garbage dumped in landfills. We compared composting towards other refuse methods like mainly focusing or product reuse, or the usage of alternative bioplastics like regeneration brake as a type of power.

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Most popular questions from this chapter

Identify the characteristics of a perfectly competitive market structure

Consider the diagram nearby, which applies to a perfectly competitive firm, which at present faces a market clearing price of \(20per unit and produces 10,000units of output per week.

a. What is the firm's current average revenue per unit?

b. What are the present economic profits of this firm? Is the firm maximizing economic profits? Explain.

c. If the market clearing price drops to \)12.50per unit, should this firm continue to produce in the short run if it wishes to maximize its economic profits (or minimize its economic losses)? Explain.

d. If the market clearing price drops to $7.50per unit, should this firm continue to produce in the short run if it wishes to maximize its economic profits (or minimize its economic loses)? Explain.

Consider the information provided in Problem 23-4. Suppose the market price drops to only $5 per pizza. In the short run, should this pizza shop continue to make pizzas, or will it maximize its economic profits (that is, minimize its economic loss) by shutting down?

Suppose that the firm with the costs and revenues tabulated in Figure 23-2 is contemplating whether to produce 12 units of output. If it were to produce this many units, what (if anything) would happen to the market price? What would be the firm's marginal revenue for the 12th unit produced? What would be the firm's total revenues per hour?

Take a look at Figure 23-3. This figure uses the data in the table from Figure 23-2, which indicates that the area of the blue rectangle displaying hourly economic profits is $5 per period. What prevents this firm from continuing to produce the same number of units per hour but raising the price that it charges for each unit in order to enlarge the area of the profit rectangle?

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