BBA2401UnitVIAssignment

5. An article in the Financial Times noted that toll road that connects two counties in Massachusetts was not generating as much toll revenue as predicted. At that time, the toll rate was $8 for a passenger car making a round trip from end to end on the tollway during rush hour. What type of additional information would you need to know in order to determine if the toll should be increased or decreased to maximize revenue?

5 Chapter 8 Problems i 3 02:34:09 eBook e You just got closed out of an economics course you need to graduate and need to persuade the department chair to open another section. She tells you that the school will have to pay a part-time instructor $3,000 to teach the course, and that there will be an additional $50 in administrative costs per student to run the course. If tuition is $400 for the course, how many students would you need to sign up for the course to run? Students: Mc Graw Hill Type here to search O ************ 84°F Help Sav

9. Chapter malper, Section .11, Problem 022 (ID: 022.11.MANK09) The Pennsylvania Turpike is a tolled freeway running through the state of Pennsylvania. Motorists must pay toils at various points along the Turnpike based on the distance they traveled on the freeway. Suppose that despite the tolls, many motorists in the urban areas use the Turnpike causing traffic to slow during peak times. What type of good would the Turnpike be classified as in this case? Ca. Common resource Ob. Private good. Oc. Public good Cd. Club good

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Say that you are a manager with the Transportation Security Administration (TSA). The table below shows fictional estimates of the marginal benefit and marginal cost of additional TSA security lines at Mahlon Sweet Field, the airport in Eugene, Oregon. Number of Marginal In this space, draw the graph of the marginal data from the left columns. Answer these questions below using the data table and graph. Benefit 3. Security Lines 1 2 3 4 5 6 $10,000 9,000 7,000 5,000 4,000 3,000 Marginal Cost $2,000 3,000 4,000 5,000 8,000 12,000 The surplus of the marginal benefit over cost for the second security line is $ and $ for the third security line. If your goal is to maximize total surplus, you WILL / WILL NOT (circle one) operate a third security line. The optimal number of TSA security lines is because this is where the marginal equals the marginal which maximizes total

PART A: Several years ago, hurricane Gilbert destroyed thousands of acres of banana in Jamaica. Farmers whose crops were destroyed by the hurricane were much worse off, but farmers whose crops were not destroyed benefited from the hurricane. Why did this occur? What information would you need about the market for bananas in order to assess whether farmers as a group were hurt or helped by the floods? PART B: Explain why the following might be true: A drought in the Caribbean raises the total revenue that producers receive from the sale of coffee, but a drought only in Grenada reduces the total revenue that Grenadian producers receive. Ensure that you define any key terms used in your discussion

Categorize each of the following five goods as a Private Good, Common Good, Club Good, or Public Good. Descriptions of each good will serve as hints. Remember, our textbook outlines only two types of goods, see the notes and lecture video for the other two types. a) An NPR (radio) signal - which is available to everyone with a radio, whether or not they contribute, the signal does not diminish no matter how many people tune in. [Select] b) A new Ford truck this can only be purchased by one person, you can not drive it off the lot without paying for it. [Select] c) A subscription to Disney+ - you can not have a subscription without paying for it, purchasing a subscription does not lower the total number of subscriptions available. [ Select] d) A fireworks show on the 4th of July - the fireworks are visible to everyone in the town, whether or not they contributed anything to the display, one person viewing the fireworks does not make them less visible for anyone else. [Select] e) A…

i am having trouble with this question macroeconmics chapter 5 question 1

QUESTION 10 Plastic bags take up to 1000 years to decompose in landfills, and end up in oceans where they are highly hazardous to marine life. The Australian Government is aiming to reduce Australia's plastic waste to 30% below 2020 waste levels by 2030. Reforms A Plastic waste change (compared to 2020 levels) by 2030. 10% increase Total cost for industries to introduce reform measures (billions of dollars) 0 C D 30% reduction 50% reduction B No change 0.3 1.2 1.5 a. One possible solution to reduce plastic waste would be to make the marginal private cost of plastic waste more closely reflect the marginal social cost. This would be achieved by the Government Type T for increasing company Tax, P for increasing Personal tax, W for introducing a tax on plastic waste or B for Building more landfill stations. b. Imagine the Government decided to implement a system using market based instruments to price plastic waste. Firms would have to buy the right to produce plastic waste that exceeded…

Externalities - Definition and examples An externality arises when a firm or person engages in an activity that affects the wellbeing of a third party, yet neither pays nor receives any compensation for that effect. If the impact on the third party is adverse, it is called a ___________ externality.   The following graph shows the demand and supply curves for a good with this type of externality. The dashed drop lines on the graph reflect the market equilibrium price and quantity for this good.

20. Toiva and Ali were relaxing in a local coffee shop after school. Ali looked at his coffee and said, "Sometimes I think that, by drinking this, I'm hurting others." What do you think he meant?

(Table: Sydney's Tutoring Service) Use Table: Sydney's Tutoring Service. Sydney tutors five students in the introductory business class. The second column of the table shows each student's willingness to pay for a one-hour session. Sydney's estimated costs of providing tutoring hours (with no sunk costs) appear in the final column. If she can charge all students their willingness to pay, at the optimal number of hours of tutoring, Sydney's total profit will be: Table: Sydney's Tutoring Service Willingness to Student Paulina Quentin Ramona Sylvia Tim $30. $50. $15. $60. pay $25 15 5 20 10 Hours of tutoring Sydney's cost 1 2 345 $5 10 15 20 25

3. Changing possible security and tourism outcomes According to the article, the Visit U.S. Coalition encourages the U.S. administration to enact friendlier visa and border-security policies. Adjust the following graph to illustrate the effects of implementing such measures. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. SECURITY (Percent of terrorists caught) 8 90 120 30 60 TOURISM (Millions of visitors) According to the adjustment of the previous graph, if the United States were to implement friendlier visa and border-security policies, it would allow level of security and for a tourism. True or False: By implementing such measures, the United States would no longer face a tradeoff between security and the number of visitors to the United States. True False

CS 2  Economics