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UNSW chit chat thread (8 Viewers)

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-Senpai

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Re: UNSW chit chat thread 2016

How do you get past externality island on playconomics o_O
 
leehuan

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Re: UNSW chit chat thread 2016

-Senpai said:
How do you get past externality island on playconomics o_O
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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.

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.
 
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Re: UNSW chit chat thread 2016

leehuan said:
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.

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.
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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

-Senpai said:
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 :/
Click to expand...
"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
 
D94

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Re: UNSW chit chat thread 2016

No more free Opal trips, but we'll save $1 per change in mode.
 
Queenroot

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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
 
leehuan

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Re: UNSW chit chat thread 2016

Can someone please offer me some motivation to keep actuarial
 
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
 
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RenegadeMx

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Re: UNSW chit chat thread 2016

leehuan said:
Gg what haven't you done then? CHEM?
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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
 
Squar3root

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Re: UNSW chit chat thread 2016

RenegadeMx said:
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
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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:
 
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