Multiple choice questionRefer attached image Use this information for questions 29-33.Consider the three player cooperative game below. Imagine that thenet benefits maximum is to conserve all three areas of land at asubsidy budget of $110.UseAgriculture AAgriculture BAgriculture CLoggingLand Owner Opportunity Cost$40$30$20A, B$80LoggingA, C$70LoggingMiningВ, С$60А, В, С$110What is the final range constraint for A?40 < A< 4040 < A< 55O 40 < A < 4540 < A < 50

For all Landowner A, B, C Minimum constrain is 40, 30, 20 respectively. For Landowner A maximum…

Ise -griculture A -griculture B -griculture C Land Owner Opportunity Cost $40 $30 $20 ogging А, В $80 ogging A, C $70 ogging В, с $60 Mining А, В, С $110 /hat is the final range constraint for A?

Ise -griculture A -griculture B -griculture C Land Owner Opportunity Cost $40 $30 $20 ogging А, В $80 ogging A, C $70 ogging В, с $60 Mining А, В, С $110 /hat is the final range constraint for A?

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 6PA

See similar textbooks

Similar questions

Imagine that you are a nonsmoker sharing a roomwith a smoker. According to the Coase theorem, whatdetermines whether your roommate smokes in theroom? Is this outcome efficient? How do you andyour roommate reach this solution
please solve d and e Imagine a country XYZ that produces only two goods—chairs and tables. Together, the chairs and tablesindustries use all of the economy’s factors of production. The table below shows the productionpossibilities for XYZ:Production Possibilities for XYZChairs Tables600 0450 150300 250150 325 0 375a. Draw a Production Possibility Frontier for the country using the information in tableabove. b. What is the opportunity cost of increasing chairs production from 450 chairs to 600chairs?c. What is the opportunity cost of increasing tables production from 250 tables to 325tables?d. Plot the point denoting 300 chairs and 300 tables on your graph above. Is this point“feasible”? Why or why not?e. Plot the point denoting 300 chairs and 50 tables on your graph above. Should XYZ beproducing at this point? Why or why not?
Review the numbers for Canada and Venezuelafrom Table 33.12 which describes how many barrelsof oil and tons of lumber the workers can produce. Usethese numbers to answer the rest of this question.a. Draw a production possibilities frontier for eachcountry. Assume there are 100 workers in eachcountry. Canadians and Venezuelans desire bothoil and lumber. Canadians want at least 2,000tons of lumber. Mark a point on their productionpossibilities where they can get at least 3,000tons.b. Assume that the Canadians specializecompletely because they figured out they havea comparative advantage in lumber. They arewilling to give up 1,000 tons of lumber. Howmuch oil should they ask for in return for thislumber to be as well off as they were with notrade? How much should they ask for if theywant to gain from trading with Venezuela? Note:We can think of this “ask” as the relative price ortrade price of lumber.c. Is the Canadian “ask” you identified in (b) alsobeneficial for Venezuelans? Use the…
The following table describes the productionpossibilities of two cities in the country of Baseballia:Pairs of RedSocks per Workerper HourPairs of WhiteSocks per Workerper HourBoston 3 3Chicago 2 1a. Without trade, what is the price of white socks (interms of red socks) in Boston? What is the price inChicago?b. Which city has an absolute advantage in theproduction of each color sock? Which city has acomparative advantage in the production of eachcolor sock?c. If the cities trade with each other, which color sockwill each export?d. What is the range of prices at which mutuallybeneficial trade can occur?
53. The Indiana University basketball team trails by twopoints with eight seconds to go and has the ball. Shouldit attempt a two-point shot or a three-point shot?Assume that the Indiana shot will end the game and thatno foul will occur on the shot. Assume that a three-pointshot has a 30% chance of success, and atwo-point shot has a 55% chance of success. Finally,assume that Indiana has a 55% chance of winning inovertime.
Figure 1 below shows two production possibilies frontiers (PPFs). The solid one isthe original one. The dashed one is the PPF after a technological advance that hasbenefitted only the Y indusry. As an example, think of the invention of fruitpicking robots that benefits only agricultural production and is of no use insoftware production.Figure 2 shows the marginal social benefit (MSB) of X production in terms ofsacrifices of Y. For example, to produce the first unit of X, the society is willing togive up 40 units of Y. For the second unit the socirty is willing to sacrifice only 35units of Y.Before the technological advance:1. What are the marginal social costs (MSCs) of producing the second,third, and the fourth units of X in terms of the sacrifices of Y. Do youremember the reasons for these results?2. What are the allocatively efficient quantities of X and Y?3. Suppose that due to some good news about various health benefits of X,the marginal social benefit of X increases by 10 units…
Figure 1 below shows two production possibilies frontiers (PPFs). The solid one isthe original one. The dashed one is the PPF after a technological advance that hasbenefitted only the Y indusry. As an example, think of the invention of fruitpicking robots that benefits only agricultural production and is of no use insoftware production.Figure 2 shows the marginal social benefit (MSB) of X production in terms ofsacrifices of Y. For example, to produce the first unit of X, the society is willing togive up 40 units of Y. For the second unit the socirty is willing to sacrifice only 35units of Y.Before the technological advance:1. What are the marginal social costs (MSCs) of producing the second,third, and the fourth units of X in terms of the sacrifices of Y. Do youremember the reasons for these results?2. What are the allocatively efficient quantities of X and Y?3. Suppose that due to some good news about various health benefits of X,the marginal social benefit of X increases by 10 units…
1. Write situations that can present the different barriers at communicationand ways to avoid these.BarriersExample SituationPossible Strategy that canbe used to AvoidMisunderstanding1. Physical Barier2. Semantic Barrier3. PsychologicalBarrier4. Mechanical Barrier5. Cultural Bonet II Identity the nonverbal cues present in eoch situation and underline thewords that links to it. 1. She always wears her bracelet when she joins any contest._2. The reason of avoiding her because of ourmisunderstanding3. Brion likes to pinch my cheeks all the time.-4. The aroma of his cottee wakes her up in the morning_5. Her dance moves really prove that she's a dancer6. Those students who are wearing long sleeves and grayskirt are Tourism students.7. She received a lot of medals in her graduation8. Her parents told him to wait Celine reaches 18 years old,so that he can finally court her.9. Jenna and Kaye can't be separated in their classroom10. His smiles can brighten up my day!
In the tradeoff between economic output and environmental protection, what do the combinations on the protection possibility curve represent?
Consider the case of global environmental problems that spill across international borders as a prisoners dilemma of the sort studied in Monopolistic Competition and Oligopoly. Say that there are two countries, A and B. Each country can cheese whether to protect the environment, at a cost of 10, or not to protect it, at a cost of zero. If one country decides to protect the environment, there is a benefit of 16, but the benefit is divided equally between the two countries. If both countries decide to protect the environment, there is a benefit of 32, which is divided equally between the two centuries. In Table 12.10, fill in the costs, benefits, and total payoffs to the countries of the following decisions. Explain why, without some international agreement, they are likely to end up with neither country acting to protect the environment.
What are four responses to the claim that people should not behave in the way described in this chapter?
In what ways (it) company investments in research and development create positive externalities?