how much per year would the construction supervisor collect from his 10 inspectors? How much less is the construction supervisor getting than when he had 20 inspectors
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- What if reducing the number of inspectors from 20 to 10 only increased the equilibrium bribe from $1,000 to $1,500? In this case, how much per year would the construction supervisor collect from his 10 inspectors? How much less is the construction supervisor getting than when he had 20 inspectors working in part b? In this case, will the construction supervisor be happy with the reduction in government services? Will he want to go back to using 20 inspectors?
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- Corrupt officials may have an incentive to reduce the provision of government services to help line their own pockets. Suppose that the provincial construction supervisor decides to cut the total number of housing inspectors from 20 to 10 in order to decrease the supply of new housing permits. This decrease in the supply of permits raises the equilibrium bribe from $1,000 to $2,500. How much per year will the construction supervisor now receive if he is still getting half of all the bribes collected by the 10 inspectors? How much more is the construction supervisor getting now than when he had 20 inspectors working in part b? Will he personally be happy with the reduction in government services?Suppose Sam is willing to pay A total of 280,000 for an apartment. True or false: keep his maximum willingness to pay for an apartment in mind, Sam will buy the apparent because it would be worth more than marketplace of 350,000Drug interdiction, which reduces the supply of drugs, may decrease drug-related crime because the demand for drugs is inelastic. O True O False
- Suppose Kenji is willing to pay a total of $180,000 for an antique car. True or False: Keeping his maximum willingness to pay for an antique car in mind, Kenji will buy the antique car because it would be worth more to him than its market price of $225,000. True FalseWhat are concerns that some people have with the use of consumer decision nudges by governments?Suppose now that there is a scrappage scheme which fully reimburses the citizen if she buys the new ULEZ-compliant car. That is, the subsidy is equal to S = 10, 000. What is her utility of buying the new car? What is her utility of keeping the old car? Does the citizen prefer to buy the new car?
- The market for lemon has 10 potential consumers, each having an individual demand curve P=101-10Q1, where P is price in dollars per cup and Q1 is the number of cups demanded per week by the ith consumer. Find the market demand curve using algebra. Draw an individual demand curve and the market demand curve. What is the quantity demanded by each consumer and in the market as a whole when lemon is priced at P= $1/cup?Suppose that the government tends to maximize the tax revenue. How would the cannabis price drop affect the government tax revenue if cannabis was taxed by price? Did the government anticipate the cannabis price drop when designing the tax scheme. You may come up with an artificial numerical example to support your findings. are alcohol and cigarettes substitutes or complements of cannabis? How would the change in the price of cannabis possibly affect the market demand curve for alcohol/cigarettes?Assuming Max and Bob have identical preferences, identical incomes, and the after-tax price of e-books is higher in Germany than in the U.S. and the after-tax price of printed books is higher in the U.S. than in Germany A. we cannot state with certainty anything about the quantity of e-books and printed books that Max and Bob will buy. B. we can state with certainty that Max will buy the same quantity of e-books and printed books as Bob. C. we can state with certainty that Max will buy relatively fewer e-books and more printed books than Bob. D. we can state with certainty that Max will buy more e-books and more printed books than Bob. E. we can state with certainty that Max will only buy printed books and Bob will only buy e-books. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Does the Washington Monument strategy cut the items with the highest marginal utility or the lowest marginal utility?The point of scalping is to find someone who wants a ticket more than the person who presently has it. Whenever two different prices exist in a market, arbitrage opportunities (buy and then sell at a higher price) are there. Professional scalpers buy up tickets when they are first offered to the public, while some buy them on the street the night of the event. They can sell any ticket, even those in short supply, at some price. When many people want to go to an event that has a limited supply of tickets, the scalping price can be quite high. Go online and find scalping agencies like StubHub and SeatGeek. See if you can find an event for which the scalping price is much higher than the original price. What determines whether the event is worth the higher price? It is argued that scalping is efficient. Explain that argument. Others ask how could it be efficient “if only rich people can afford to go to most games?” Do you agree? Why or why not?Are low-income delinquents reacting against middle-class values, as Cohen contends, or is there a low-income culture with its own set of values and attitudes with which delinquents are conforming, as Miller contends?
