In a neighborhood, guest parking has its own area. Some families have more cars than what can fit in their driveway, so they park extra causes actual guests to park in grassy areas. Over time, some spots of grass in the neighborhood are no longer green. This scenario represents a tragedy of the commons O True O False
Q: A certain firm has the capacity to produce 650,000 units of product per year. At present it is…
A: Here, given information is, Production capacity: 650,000 Current production: 70% of capacity Firm's…
Q: The quantity equation, also known as the equation of exchange, shows that the product of the money…
A: Quantity theory of money: MV = PQ Where M is money supply V is velocity of money P is price level Q…
Q: Refer to the Internet Service market above. S1 and D show the original equilibrium. S2 shows the…
A: You can analyze this question by breaking into the following sub questions What is the amount of…
Q: Table 1: Selected Economic Indicators for Trinidad and Tobago 2016 - 2020 Year Population GDP…
A: GDP is the market value of final goods and services produced by a nation under its domestic…
Q: Explain why the Reserve Supply is perfectly elastic at Discount Window
A: A central bank lending tool called the discount window was created to assist commercial banks in…
Q: 4. An interest rate is an effective rate under all of the following conditions, EXCEPT when: A) The…
A: Dear Student, as you have posted multiple questions but we can answer only one question at a time as…
Q: wants to increase the money supply by $10 billion, to $910 billion. It could do this through…
A: Open market operations (OMOs)--the buy and sale of securities in the open market by a central…
Q: The citizens of MicroVille have the following annual incomes: What percentage of total income is…
A: We have given the annual income of 10 citizens of MicroVille The quintile is any of the five equal…
Q: Real GDP per capita increases by 9% in the first year and by 5% in the second. After 2 years, what…
A: We assume that the real GDP per capita in Year 0 is $100 After one year in Year 1 our GDP increases…
Q: What you understand by Business Cycles.
A: In economics, there are numerous economics terms used to define a specfiic market situation and…
Q: Consider the market for product ABC, when the price is at Php 12, quantity demanded is 6 units and…
A: Demand and supply In perfect market competition the optimum quantity is produced where the demand…
Q: 6. Expenditures and Income Approaches Consumption Expenditures Wages Taxes on Production and Imports…
A: The measure that depicts the final value of goods and services being produced in an economy during a…
Q: Any deficit that a government might run must be financed somehow. Which of the following is a…
A: In an economy, government might run budget deficit due to spending more than its revenue from…
Q: Tax elasticity and tax buoyancy are the same in that they both envisage the concept of the change in…
A: In an economy, tax elasticity and tax buoyancy are two different concepts that are used to explain…
Q: Provide details on human development?
A: Human development is the process of enhancing people's choices, including those related to…
Q: The Coase theorem states that if property rights exist, the number of parties is small, and…
A: Answer to the question is as follows:
Q: Calculate interest on a 90-day $5,000
A: Given, Time = 90 days (consider 360 days in a year) Interest = 11% Principal = $5000
Q: you don't usually see luxury brands like Burberry and Balenciaga have their shops in the exact same…
A: When talking about hotelling problem, it can be said that it is the situation when two or more firms…
Q: 1. GDP Computations Year 2020 2021 2022 The following table shows some data for an economy that…
A: "GDP represents the money value of all finished goods and services produced in a nation at a given…
Q: Question: Critics of floating exchange rates claim that trade deficits are determined by the ?
A: The value of a country's currency in relation to the currency of another country or economic zone is…
Q: Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if…
A: A minimal wage is the lowest remuneration that employers can legally pay their personnel the rate…
Q: n part a, round your answers to 2 decimal places. For all other parts, enter your answers as a whole…
A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If…
Q: Using the schedules given, plot the demand curve and the supply curve. Label the axes and indicate…
A: The equilibrium is the intersection of the quantity demanded and the quantity supplied. The surplus…
Q: PART A PART B - You own a printing firm. Two of your senior managers provide you with advice. The…
A: The profit of a firm is calculated by subtracting the total costs incurred on production from the…
Q: what problem does the value added approach of measuring GNP resolve? does the value added approach…
A: The term GDP means the aggregate total output produced by a country in the current year. This…
Q: Distinguish between IMF and Word Bank?
A: The Bretton Woods Conference in July 1994 led to the creation of the World Bank and the…
Q: The effect of the government intervention in the sugar market hurts sugar farmers and politicians…
A: 7. Free markets are frequently imagined. Government meddling is little to nonexistent. In practice,…
Q: The World Bank projects that the world's population will increase from 7.6 billion in 2019 to 8.6…
A: The World Bank is an international association that gives financing, guidance, and examination to…
Q: A firm operates two plants, Plant A and B. Both plants can produce good x and good y. Each plant can…
A: It has been provided that, For plant A: MCx = 10 MCy = 5 For plant B: MCx = 5 MCy = 4
Q: Select correct one In an imperfect market, individual firms: a. are always able to set the…
A: In business and economics, a market is defined as where the sellers and consumers meet to facilitate…
Q: ARC's bid No Bid ABC's manufacturing decision: Adopt current system, or Develop new system. Bids…
A: There are three available alternatives - No bid , Bid 950 , Bid 850 To determine the alternative…
Q: An increase in the direct tax means it is None of the above Inflationary Having no…
A: Direct taxes are the taxes which are levied and also paid by the same person. In simple words, the…
Q: The Island Nation of Murlonio prints its own currency called the Mariano. Use the data below to…
A: M2 = M1 + saving deposits + certificate of Deposits and time deposits + money market funds +…
Q: A progressive income takes a ncome O flat; declines O larger; rises smaller; rises percentage of…
A: An income tax is a tax forced on individuals in regard of the income earned by them. Income tax for…
Q: how to derive the income multiplier, comsumption multiplier and government multiplier, given Y=C +…
A: Multiplier effect A circumstance in which a small change in the input, such as government spending,…
Q: Question 27 Consider the market adjustment model. During an economic boom, when the actual output is…
A: Market adjusted model is the model in which actual market return is used to control potential market…
Q: 6. Assume a perfectly competitive firm incurs a total cost of $10.000, marginal cost of $38, and…
A: A perfectly competitive business must accept the equilibrium price at which it sells its products…
Q: Given the graphs, this monopolist is experiencing a: Average costs Marginal Costs, Marginal Revenue…
A: A monopolistic firm in the market aims to maximize its profits. It earns maximum profit or minimum…
Q: Suppose that the level of unemployment in the economy is determined by the follow equation: U = 7.55…
A: Introduction Unemployment rate measures how much unemployment exist in the economy. It is the…
Q: In a perfectly competitive market, the individual firm's demand curve A) slopes steeply downward to…
A: In a perfectly competitive market, there is a large number of buyers and sellers. Each seller is…
Q: Problem 11: Hick's Furniture Company (not a real company) sells industrial furniture for office…
A: Given Cost of goods sold = 1650000 $ Beginning inventory = 2750000 $ Closing inventory = 3825000 $
Q: Problem 2 Refer to problem 1.(Problem 1: Auto Mart is a mythical seller of a variety of automobile…
A: Given Holding cost (H) =US$2.50 Order cost (S)= US$50 Annual demand for wiper blades = 16000…
Q: Almona, Inc. is your dad’s company. It manufactures electrostatic generators for classroom…
A: A variable cost is an expense that adjusts the extent to the production outputs. At the point when…
Q: To combat income inequality and to generate increased tax revenues to fund expenditures, government…
A: The marginal tax rate of 90% of the income is considered a very good source of income for the…
Q: 1. Determine which country has a comparative advantage in each good. 2. If Country A and Country B…
A: Since you have posted a question with multiple sub parts, we will solve first three subparts for…
Q: According to the US Census Bureau, in 1940 about 25% of the adult population over 25 had completed…
A: In the United States, census Bureau can see an increase in the proportion of population that had…
Q: Preferred stock, $100 par $500,000 Paid-in capital in excess of par-preferred $35,000 Common stock,…
A: Paid-in capital refers to the total amount invested in a company by the equity shareholders by…
Q: Suppose that Fiona likes cashews better than almonds and likes almonds better than walnuts. She…
A: Preferences and utility are inter-related to each other. Now this preferences are depending upon…
Q: Refer to Figure A-2. The supply curve S1 and the demand curve D show the initial market equilibrium…
A: Answer to the question is as follows:
Q: Are market supply curves typically more elastic in the short run or in the long run? Explain.
A: Elasticity is the ability of one economic variable, like the amount required, to alter in response…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Answer asap please Suppose that a special interest group makes up 10% of the overall population. If a new proposal stands to generate $2 million in additional benefits to the group, the group will: Group of answer choices always support this proposal, since the costs are diffused over the entire population. never support this proposal if the costs are greater than $2 million. support this proposal only if the costs are less than $2 million. support this proposal only if the costs are less than $200,000.)a-Ali receives utility from the Korean vaccine(K) and American vaccine(V) that he receives in thefollowing format: U=K*VPv=200Pk=160I=8000After the Korean vaccine price goes up to 250 TL, as there is increased international competition toreceive it what is the compensation the Turkish government needs to offer for the individual`s utility tostay constant?b)With the Korean vaccine price going up to 250 TL, please differentiate the substitution vs incomeeffect of this price increase. Is the vaccine a normal good or an inferior good?c) Individuals gain utility from two things: leisure(N) and numeraire good consumption(C). In their youththey maximize:U1(N1, C1) = (N)1/2 (C)1/2Budget constraint should be constructed in the following way: With 24 hours of work, you buy leisurehours, and the numeraire good, which has a price of 1. If you get an hourly wage rate of w,Please set up the Lagrangian for utility maximization. Solve for w=10, your labor decision for the firstperiod.d-Let us assume…If a) the government uses a tradable permits program for pollution emissions, b) polluting firms are heterogeneous in terms of their marginal abatement costs (MACs), and c) each firm is initially allocated an equal amount of permits, it must be the case that: Select one: a. Firms with higher marginal abatement costs will pay firms with lower marginal abatement costs to abate more. b. Firms with lower marginal abatement costs will end up with more permits than firms with higher marginal abatement costs after trading. c. All firms will end up abating the same amount of emissions. d. All of the above are true. e. All of the above are false.
- show that expectaion demages are efficient with respect to beach, but no efficient with respect to reliance.Consider a uniformly mixed pollutant. If all of the polluters have different individual marginal abatement cost functions, then it wll not be possible to design a cost effective policy. Select one: O a. True O b. FalseThree neighboring towns – Marshland, Dampland, and Wetland – all border the same lake. The lake frequently floods causing damage to property in all three towns. Each town would benefit from flood mitigation, but the level of benefits differs. With Z representing the level of mitigation: for Marshland, MB = 3 – Z for Dampland, MB = 4 – 2Z for Wetland, MB = 11- Z The marginal cost of flood mitigation is MC = 2 + 12Z Questions: ***Please Note*** Previous Expert Calculated: Z = 16/3 as the Solution to (a) Math Solver Calculates: Z = 1 ***Please Resolve*** (a) What is the socially optimal level of Z? (b) What would each individual town be willing to pay for this level of flood mitigation? (c) The representative from Wetland proposes that each town pay an equal share for the optimal level of flood mitigation. Would…
- Suppose John buys a tiger because he wants to be like the cool king guy from The Walking Dead. John can take care to prevent his tiger from eating his neighbors by building a fence. The fence costs less than the expected harm to John’s neighbors that building the fence will prevent. Suppose that John’s neighbors also can take precautions, like wearing tiger-proof armor or carrying large caliber rifles with them at all times. Assume that the cost of these precautions is less than the expected harm from tiger maulings they will prevent, even if John were to build the fence. Given these circumstances, which is likely to be the most efficient rule? A. No liability B. Negligence C. Strict liability D. Strict liability and negligence provide equivalent incentives E. None of the aboveSuppose John buys a tiger because he wants to be like the cool king guy from The Walking Dead. John can take care to prevent his tiger from eating his neighbors by building a fence. The fence costs less than the expected harm to John’s neighbors that building the fence will prevent. Suppose that John’s neighbors also can take precautions, like wearing tiger-proof armor or carrying large caliber rifles with them at all times. Assume that the cost of these precautions is less than the expected harm from tiger maulings they will prevent, even if John were to build the fence. Given these circumstances, which is likely to be the most efficient rule? Question 41 options: a) No liability b) Negligence c) Strict liability d) Strict liability and negligence provide equivalent incentives e) None of the aboveAli Receives Utility From (D)omestic Vaccines from Kayseri, and the Sinovac Vaccine-(F)oreign. The utility structure is U(D,F)=D x F. The price of the foreign vaccine because of increasing returns to scale is $200, whereas at its earlier stages, the domestic vaccine is produced at a higher cost, and higher price of $250. The government has given each and every citizen a fixed payment of $8000 to spend just on vaccines, but it has not specified which vaccines. a- Does Ali Solve the Utility Maximization Question in an interior equilibrium or a corner solution? How do you know? What condition does the interior equilibrium necessitate regardless. b- Find Ali's Utility Maximizing Level of Domestic and Foreign Vaccines when he uses just the government allowance on vaccines? What is his utility level? C- Suppose the government wants to decrease Turkey's health exports. It pushes a vaccine subsidy, just for domestic vaccines that makes the price of domestic equal to $160. How does the utility…
- A law is passed providing for compulsory vaccination and subjects a person toimprisonment for refusing to submit vaccination, except when it is apparent or it canbe shown that the person is not fit for vaccination because of his physical condition. Isthe law valid?Consider a used car market with asymmetric information. The owners of used cars know what their vehicles are worth but have no way of credibly demonstrating those values to potential buyers. Thus, potential buyers must always worry that the used car they are being offered may be a low quality “lemon.” a. Suppose that there are equal numbers of good and bad used cars in the market and that good used cars are worth $13,000 while bad used cars are worth $5,000. What is the average value of a used car? b. By how much does the average value exceed the value of a bad used car? By how much does the value of a good used car exceed the average value? c. Would a potential seller of a good used car be willing to accept the average value as payment for her vehicle? d. If a buyer negotiates with a seller to purchase the seller’s used car for a price equal to the average value, is the car more likely to be good or bad? e. Will the used-car market come to feature mostly—if not exclusively—lemons? How…A company near a large city is required to keep its smokestack pollution to new lower levels, costing the company $2 million in additional equipment (which will last at least 10 years) and $100,000 a year in additional labor. Lowering the air pollutants in the region is expected to save $4 million in medical expenses in the affected region over the next 10 years. What level of pollution reduction gives the smallest benefit for money spent? Select one: a. From 1-20% of pollution reduction b. From a 20-40% pollution reduction c. From a 80-100% pollution reduction d. From a 60-80% pollution reduction