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- 4 The service quality-related e-demand factors show a weak connection with the provision of e-government information or services. Select one: a. True b. False1 . Problems and Applications Q4 A company is considering building a bridge across a river. The bridge would cost $350,000 to build and nothing to maintain. The following table shows the company's anticipated demand over the lifetime of the bridge: Price Quantity (Dollars per crossing) (Thousands of crossings) 4.00 0 3.50 40 3.00 80 2.50 120 2.00 160 1.50 200 1.00 240 0.50 280 0 320 If the company were to build the bridge, its profit-maximizing price would be , and itwould not produce the efficient level of output. If the company is interested in maximizing profit, itshould not build the bridge because profit would be . (Note: If the company incurs a loss, be sure to enter a negative number for profit.) If the government were to build the bridge, it should charge a price of . True or False: The government should build the bridge.6 To discourage the consumption of a product, the government should impose a tax on the consumers instead of the producers. Do you agree? Explain with a suitable market diagram.
- 1. What sort of product is alcohol in economic terms if the government wants torestrict consumption of it?2. Analyze the social costs of alcohol consumption.3. Analyze the factors that would determine the impact of a price increase on theconsumption of alcohol4. Is introducing a minimum price a better way of reducing consumption than trying tochange peoples’ attitudes?17. The general demand function for good A is Qd = 754 − 2PA − 0.05M + 6PB +10ℑ+ 3PE + 2N where Qd = quantity demanded of good A each month, PA = price of good A, M = average household income, PB = price of related good B, ℑ = a consumer taste index ranging in value from 0 to 10 (the highest rating), PE = price consumers expect to pay next month for good A, and N = number of buyers in the market for good A. a. Interpret the slope parameter for income. Is good A normal or inferior? Explain. b. Are goods A and B substitutes or complements? Explain. Interpret the slope parameter for the price of good B. c. Are the algebraic signs on the slope parameters forℑ, PE, and N correct? Explain.Qd = β0 +β1Psh +β2M+β3Pcg+β4Ax+ β5C Where, Qd = Quantity demand for a deluxe room in sh Psh = Price of a deluxe room in sh (US$/room) = US$. 200.00 M = Visitors per capita income (US$/Day) = US$ 120 Pcg = Price of a deluxe room in CG (US$/room) = US$. 150.00 Ax = Average advertising expenditure in sh (US$/room) US$. 18.00 C = Customer Satisfaction Index = 8.56 DV: Q R- Square: 0.86 T table value 1.671 No of obse: 62 F- Ratio: 154.15 Var Para Esti SE β0 127.8 49.6 β1 -1.3.0 0.42 β2 2.75 1.01 β3 2.55 1.21 β4 1.41 0.48 β5 1.85 0.23 a) Are estimated parameters comparable with economic theory? why ,What are the significant parameters that could be impact on the demand for a deluxe room b) Construct the Total Revenue (TR) function of Sh hotel and determine the TR maximize demand c) Calculate and interpret, cross-price elasticity, income elasticity, and advertising elasticity of demand for a deluxe room and Calculate Adjusted R2 and interpret it.
- 5. The Canadian government provides subsidies to diaper manufacturers to produce biodegradable diapers and reduce waste created. What happens to the market when the government introduces a subsidy?1.Explain specifictly how to overcome and solve the major problem of Mcdonal's company from polluting the water? 2. Explain specifictly how to stop the staff from throwing unethically waste inside the water? 3. Explain what the company will do if the staff still throwing unethically waste in the water?Q1 new technology introduced which reduces cost pf producing of hybrid cars graph pre market equilibrium aand post market equilibrium. Q 2 importance of elasticity in decision makingfor consumers and producers, explain your concept byplotting separate graphs
- 18. Make the case that the United States is not running out of oil or energy. 19. (Consider This) Explain why government subsidies are not always successful in promoting alternative energy. 20. (Consider This) Discuss the benefits and downfalls of subsidizing alternative energy.8. The effects of property rights on achieving efficiency Consider a river found in the city of Philadelphia, and then answer the questions that follow. The city has a resort whose visitors use the river for recreation. The city also has a fish cannery that dumps industrial waste into the river. This pollutes the river and makes it a less desirable vacation destination. That is, the fish cannery's waste decreases the resort's economic profit. Suppose that the fish cannery could use a different production method that involves recycling water. This would reduce the pollution in the river to levels safe for recreation, and the resort would no longer be affected. If the fish cannery uses the recycling method, then the fish cannery's economic profit is $2,200 per week, and the resort's economic profit is $3,200 per week. If the fish cannery does not use the recycling method, then the fish cannery's economic profit is $3,000 per week, and the resort's economic profit is…13) Suppose a certain change will generate £5,000 of benefits and £3,000 of costs.This change can best be described as(a) a potential Pareto improvement.(b) inefficient.(c) Pareto efficient.(d) equitable.
