A farmer is located next to the rancher. They face the following problem.Cattle graze on the farmer's fie rancher's business is worth $100 annually (not taking into account any crop damage). The farmer's bu: cost $10 to build a fence that would keep the cattle off the farmer's property. If the farmer is given prope O A. the rancher will pay the farmer $30 in damages; the farmer will build the fence B. the rancher will pay the farmer $30 in damages; the farmer will accept the $30 in crop damages C. the rancher will build the fence; the farmer will accept the $30 in crop damages O D. the rancher will build the fence; the farmer will build the fence
Q: For a Saturday matinee, adult tickets cost $7.50 and kids under 12 pay only $5.00. If 110 tickets…
A:
Q: Please list and explain in your own words the benefits and costs when a country adopts a flexible…
A: Central banks no longer need to retain international reserves because of flexible exchange rates.…
Q: Bonds contain three important pieces of information. These three pieces are the a) issuing bank, the…
A: Bond It is an instrument that has been used by the government and companies in order to raise funds…
Q: 13. A basketball player-makes 65% of her shots from the field during the season. 52711 38889 93074…
A: The random variable means the number of variables chosen out of a total number of observations. It…
Q: Price/Cost per egg MC 12 ATC 8 MR3 AVC 6. MR2 MR1 Quantity 100 200 300 400 he market price per egg…
A: A perfectly competitive firm is a price taker in nature, i.e., it takes the price determined by the…
Q: Suppose Ming spends his entire income on two goods, X and Y, has "standard-looking" indifference…
A: Normal Goods: Normal goods are those goods whose demand is directly related to income. If income…
Q: Which of the following condition MUST apply to purchase coverage through a surplus lines carriers:…
A: In the insurance market, there are different forms of insurance provided by the insurance companies…
Q: Cooperation in a Finite Game We have seen that if we play the Prisoners' dilemma with finite…
A: A Finite Game is defined as a game where there are fixed number of players, the players have a fixed…
Q: The demand for a good is QD = 19 – 2P + 4l where P and I represent price and income respectively. At…
A: Answer; The income elasticity of demand is 0.32
Q: Suppose that Fizzo and Pop Hop are the only two firms that sell orange soda. The following payoff…
A: The correct answer is given in the second step.
Q: Suppose Ming spends his entire income on two goods, X and Y, has "standard-looking" indifference…
A: Substitution effect The substitution effect shows the effect of change in demand for goods due to a…
Q: Assume someone organizes all farms in the nation into a monopoly. Which of the following occurs?…
A: Consumers surplus refers to the difference between the willingness to pay and the actual price of…
Q: An investment of P270,270 is needed for a Korean Mart that will produce a uniform annual revenue.…
A: Given, Investment : P270,270Operating daily for 5 yearsSalvage Value : 10% of InvestmentOperation…
Q: When a firm is able to engage in perfect price discrimination, its marginal revenue curve lies below…
A: The perfect degree price discrimination is practised by the monopoly firm. It extracts the entire…
Q: PROBLEM NO.1 Determine the ordinary simple interest on P700 for 8 months and 15 days if the rate of…
A: Given: Amount=P 700 Interest rate=15% Duration=8 months and 15 days
Q: 3.1 Every weekend more than 500 different vendors set up at the local farmers' market, selling a…
A: The monopolistic competition market is a type of market structure.
Q: efer to Figure 14.1. Suppose the government imposes a subsidy of Ps minus Po. ompared to a free…
A: Consumer surplus under free market is achieved where demand is equal to supply Consumer surplus in…
Q: Exchange Rate Volatility?
A: (Q) Exchange Rate Volatility?
Q: Airplane Tickets 400 350 300 250 200 150 100 D 50 25 50 75 100 125 A. Compute CS and PS surplus in a…
A: Total surplus is identified when we add consumer surplus and producer surplus in the market.
Q: A firm sells bagels for £0.52 each. With 6 workers the firm produces 48 dozen per hour, and with 7…
A:
Q: A series of cash flows are established on an account as listed below: Payment of P375 at the end of…
A: A lender charges a borrower an interest rate that is a percentage of the principal (the amount…
Q: What happens to GDDP if the investment icreases by 100 with MPC 0,8 and tax 20%
A:
Q: Set up the engineering economics relations to compute the equivalent annual series (A=??) in years 1…
A: Here we calculate the equivalent annual series by using the given cash flow and conclude the…
Q: Consider the following normal-form game:
A: Since the question you have posted consists of multiple parts, we will answer the first two…
Q: 17. A plant produces 300 units of equipment a month of PP3,600 each. A unit sells for P4,800. The…
A: Given; Quantity produced= 300 units Cost of equipments= P3600 each Price of equipments= P4800 each…
Q: OPTIONS: $5 $20 $0 $10 You are a hotel manager and you are considering four projects that yield…
A: The table shows the payoffs of different projects in boom or recession and the probability of boom…
Q: Lauren owns a bakery. She wants to increase her daily production of baked goods, so she knows she…
A: In the production process, different types of resources are used by the firm to generate effective…
Q: What is the consumer price index (CPI)? O a) The CPI is a measure of food, clothing, and housing…
A: The Consumer Price Index (CPI) is a proportion of the typical change time in the costs paid by…
Q: Explanation it correctly Q)Explain on a table the differences between the two macroeconomic…
A: A multiplier is a numerical coefficient used in economics to demonstrate how a change in total…
Q: Under a marginal cost pricing rule, a natural monopoly makes zero economic profit incurs an economic…
A: For a natural monopoly we have downward sloping Average cost and when average cost is falling, AC is…
Q: Period 1 3 4 5 Gross Requirements 50 50 50 50 50 50 Scheduled Receipts On Hand Inventory 75 Planned…
A: The correct answer is given in the second step.
Q: Explain why a sudden, large burst of inflation could lead to a recession?
A: Inflation is the continuous rise in the price level of commodities in a nation over a period of…
Q: How many airplanes would a competitive firm produce if the market price was $14?
A:
Q: Part 1 of a 2-part question: Suppose the market demand and supply curves for "rental housing" are:…
A: Equilibrium is determined whete demand is equals to supply.
Q: 8. The cost of producing a small transistor radio set consists of P23.00 for labor and P37.00 for…
A: Total Cost = Total Fixed Cost + Total Variable Cost Breakeven implies where the profit is 0 and the…
Q: Economics Describe possible ethical issues about privacy as a result of business and government use…
A: Because humans do not always make what neoclassical economists believe to be the "rational" or…
Q: 3. Total cost is the a. amount a firm receives for the sale of its output. b. fixed cost less…
A: In a market, total cost is associated with the production of goods and services by a firm as it is…
Q: 14. Suppose that the market for a certain good has an inverse demand of P = 200 – Q. The aggregate…
A:
Q: Which of the following illustrates explicit and implicit costs? O A. Ned pays an hourly wage of $18…
A: Explicit cost is the amount paid to someone outside. Implicit cost is the cost of using own…
Q: 8. From the following graph, show the equilibriums under each scenario. Market is in equilibrium at…
A: Monopoly can be defined as the market structure that can be characterized by one seller who is…
Q: 1.a Suppose voters always vote for the candidate whose stated position is nearest to their own views…
A: Since you have posted multiple questions, we will solve the first question for you. If you want any…
Q: The figure shows the age-earnings profiles for the native born and for immigrants. YSM = years since…
A: Given diagram
Q: Determine the point elasticity n of the demand equation 2p?q = 3000 + 1000p^2 when p = 20.
A: Elasticity of demand is defined as type responsiveness of the quantity demand when price of the…
Q: 33. Consider the market for iPhones. Which of the following would result in market shift shown in…
A: “Since you have asked multiple questions, as per answering guidelines we will solve the first…
Q: Q (1) If the total costs function of a particular economic project is as follows: Required: Find the…
A: Given: Total Cost = 35+40Q
Q: 4- What type of production possibility frontier is depicted in Figure 1? Explain your answer. - Use…
A: Equilibrium in the market occurs where quantity demanded equals quantity supplied.
Q: Many economists attribute the troubles of the Great Recession in housing markets to a) an increase…
A: Stock market crash, which lead to an inquiry at banks, where the sub-prime mortages problems were…
Q: Which of the following is correct? The price and the corresponding quantity that the regulator…
A: A natural monopoly exists because of very large initial costs that create the barrier to entry.
Q: A security that represents a debt to be paid is known as a(n) O a) bank. b) rating. O c) bond. O d)…
A: In a market, different terms are used to represent different form of market interaction between…
7
Step by step
Solved in 2 steps
- oil abundance keeps a country from making the switch to renewable resources even after the supply of oil is depleted. Show the Marginal Cost curve of a renewable resource that the country would have switched to if not for the cheap prices of oil. Use model 7.2 sd1 is long run domestic supply curve sd2 dometic supply curve Pw1 observed world price Pw2 includes vulnerability premium Pw3 adds in the per unit climate change damagesLance owns a chicken farm. He allows chicken effluent to accumulate in his paddock and waits for it to dry out so that it can be removed. Rain recently washed much of this effluent into a stream which runs through his paddock.Susan owns a market garden next to Lance’s farm, and she uses water from the stream to irrigate her vegetables. Recently Susan had to destroy an entire field of carrots worth $10,000 as it had become contaminated by listeria.Due to having to destroy the field of carrots, Susan is unable to fulfil a contractual obligation to supply carrots to Big Supermarket. Under the terms of her contract with Big Supermarket Susan is required to pay them a penalty payment of $2,000.00Susan believes the listeria contamination was caused by Lance allowing chicken effluent to enter the stream. She says that he has been negligent and should pay her the $10,000 replacement value of the carrots. She also wants him to reimburse her for the $2,000 penalty payment she now owes to Big…Nantgwynfaen Organic Farm (NOF) is a farm growing a range of fruit and vegetables. It has a farm shop and offers accommodation with breakfast. It was set up by Amanda and Ken Edwards in West Wales, UK. NOF supports farmers by selling local organic produce in its farm shop. The produce from the farm shop is served to the visitors staying overnight at the farm. NOF is committed to being environmentally friendly by recycling, avoiding the use of packaging and reducing the use of electricity. NOF is looking to expand its product range by making and selling tubs of ice cream. A tub of ice cream will sell for £2.50. Variable costs will be £1.10 per tub of ice cream with fixed costs of £77 per day. Calculate the number of tubs of ice cream NOF will have to sell each day to break-even. You are advised to show your working.
- Nantgwynfaen Organic Farm (NOF) is a farm growing a range of fruit and vegetables. It has a farm shop and offers accommodation with breakfast. It was set up by Amanda and Ken Edwards in West Wales, UK. NOF supports farmers by selling local organic produce in its farm shop. The produce from the farm shop is served to the visitors staying overnight at the farm. NOF is committed to being environmentally friendly by recycling, avoiding the use of packaging and reducing the use of electricity. NOF is looking to expand its product range by making and selling tubs of ice cream. Analyse how useful break-even calculations can be for NOF when deciding whether to include ice cream in its product range.In environment and business, a negative relation means that good environmental performance creates less successful business, means……………… It does pay to be green It costs to be green None of the aboveMake a reaction paper regarding the implementation of RA 11203, you must also identify your stance about it. Philippine DA bulletin No. 1 on Rice: Understanding the Rice Tarrification Law (RTL) or RA 11203 | Official Portal of the Department of Agriculture DO NOT PLAGIARISE
- Two coal-burning electric power plants are emitting mercury which impairs cognitive development in children. Plant A's marginal abatement cost is MCA= 1.2q and plant B's marginal abatement cost is MCB = 0.3q. Each firm initially emits 50 units and the EPA would like to reduce total emissions to 40. If the EPA follows a command-and-control policy and tells each firm to abate by the same amount, what will be the total costs? If firms could trade permits, what would happen to total costs? Why?Lecture: Externality - Pigou8. All-Leather is a tanning company located on Lake Michigan in Chicago. Its total cost functionis C(QA) = 125 + 8QA + 5QA2, where QA is leather production per week in thousands of pounds.a) If leather sells for $408 per thousand pounds, how much leather will All-Leather produce?How much profit does All-leather earn?Enjoy is a beverage company located on Lake Michigan near All-Leather in Chicago. Enjoy’sproduction of beverages is negatively affected by water pollution from All-Leather’s productionof leather. Enjoy’s total cost function to produce beverages isC(QE) = 10QE +3QE2 + 3QA2where QE is Enjoy’s weekly production of beverages, in thousandsof gallons and, as above, QA is All-Leather’s weekly production of leather.b) Is this an example of a pecuniary externality or a real externality? Explain.c) What is the extra cost to Enjoy from an additional thousand tons of leather production by AllLeather (i.e., the external marginal cost of an extra unit of QA…There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. Assume the bar owner has the right to hire as many bands as she likes. Iftransaction costs were $90, split between the bar owner and the tenants, how manybands would play? What would social welfare be? A. Three bands would play and social welfare would be ‐100.B. Two bands would play and social welfare would be 75.C. Two bands would play and social welfare would be ‐15.D. No bands would play and social welfare would be 0.E. Three bands would play and social welfare would be ‐190
- There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. Assume the tenants have the right to be free of loud music enforced through a property rule. If transaction costs were $90, split between the bar owner and the tenants, how many bands would play? What would social welfare be? A) Two bands would play and social welfare would be 75. B) Two bands would play and social welfare would be ‐25. C) No bands would play and social welfare would be zero. D) No bands would play and social welfare would be ‐90. E) One band would play and social welfare would be 25.There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. If the tenants have the right to be free of loud music enforced through a property rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. Zero B. One C. Two D. Three E. It depends on transaction costsThere is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. Assume the bar owner has the right to hire as many bands as she likes. If transaction costs were $90, split between the bar owner and the tenants, how many bands would play? What would social welfare be? A. Three bands would play and social welfare would be ‐100. B. Two bands would play and social welfare would be 75. C. Two bands would play and social welfare would be ‐15. D. No bands would play and social welfare would be 0. E. Three bands would play and social welfare would be ‐190