Most websites on the internet are usually becomes difficult to access, so it becomes a because they are free to access and everyone who wants to can visit them at the same time. However, sometimes when a lot of people visit a site at the same time, it o non-rival, club good o rival, private good common resources, public good o public goods, common resource
Q: Seven neighbors are debating the number of new parks to fund. You are running to be neighborhood…
A: There are seven neighbors who want a different number of parks to be funded. If a person wants to be…
Q: A4 1. Two chemical companies, A and B, operate in a small New England town. Every week A releases 40…
A: *Hi there , as you have posted multiple question . As per our guidelines we are only allowed to…
Q: a. Who sells permits and how many do they sell? Who buys permits and how many do they buy? Briefly…
A: 9A) Firm Buys or Sells Initial Pollution Level permits after Trade Remaining Pollution…
Q: Canada’s prime minister, Justin Trudeau has declared that 60% of car sales will be electric by 2030…
A: A reasonable goal is one that is : well-defined and has measurable goals that must be met within a…
Q: Suppose the government decided to issue tradeable permits for a certain form of pollution, does it…
A: government decided to issue tradeable permits for a certain form of pollution.
Q: Why won’t innovative sharing technology with other firms ensure an efficient economy ?
A: In an economy, technology plays a significant role in improving the economic, financial and social…
Q: Part 4 : Identify and match each good below depending on the type of good (private, public, common…
A: Public goods are provided by the government for use by the common public without charging any price…
Q: Wireless, high-speed Internet is provided for free inthe airport of the city of Communityville.a. At…
A: There are some goods, whose efficient provision is not possible by the market and hence the…
Q: Two chemical companies, A and B, operate in a small New England town. Every week A releases 40…
A: Hi! Thank you for the question as per the honour code, we’ll answer the first question since the…
Q: The three residents of Smallville are consideringa fireworks display. Clark values this public…
A: Public goods are those goods that are produced by the government and are characterized by their…
Q: Solve the attachment
A: The marginal benefit refers to the additional benefit received by the firms on producing more units…
Q: (1) : c1 (1 + r) + c2 = wi (h – 1)(1+r) + w2(h – 12) wi(h-l) (II) : c = wi(h –1)+ (III) : wi (h –…
A:
Q: self-i
A: Over 200 years ago,the self-interest versus the social-interest debate began with Adam Smith and it…
Q: A city currently emits 16 million gallons (MG) of raw sewage into a lake that is beside the city.…
A: MC(marginal cost) and MB(marginal benefit) are calculated as: MC=change in TCchange in…
Q: 2. Classify each of the following items as a public good, a private good, a natural monopoly good,…
A: The commodity that is in turn made available for consumption to all the members of the economy are…
Q: y be spent on purchasing votes (i.e., any ional defense? How many for the road? Place those values…
A: Answers (A) Public Goods Garcia Johnson Lee National Defence 20 7 12 Road 10 17 10…
Q: Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted and b deciding…
A: *Answer: Cleaning of polluted lake will rise the positive externalities and society will benefit…
Q: Based on the following table, how many barrels of oil is efficient? How might transaction costs…
A: Transaction costs basically refers to the costs associated with purchasing or selling a product or…
Q: What is free rider problem and under which condition does it occur? Explain with an example.
A: In economics, market failure is a condition in which products and services are distributed…
Q: What is social commerce? Disscuss which industry in GCC can adopt social commerce? Justify your…
A: Once a product is manufactured, cost has to be initiated and process of business follow ups.…
Q: The fish in the river are considered_ rival in consumption rival in consumption v and_ excludable…
A: Answers: Introduction: The river is a public good whereas the pond is a private good. Public goods…
Q: Does the number of bands playing on a Saturday night depend on how manytenants there are in the…
A: The number of tenants in the building will impact the number of bands played on Saturday. The reason…
Q: The following data refers to the number of logging operations working in a stretch of tropical…
A: Hey champ, Welcome to this platform. Here you will get the answer with better quality in minimum…
Q: Imagine that a town of 200 people is trying to decide whether to pay for mosquito control. The town…
A: An individual's willingness to pay explains his satisfaction that he is expecting to have from a…
Q: Question 25 The creation of a partnership requires permission from each state in which it does…
A: In a market, when people wants to create a business according to their interest and ability, they…
Q: For each of the goods in the list below identify which good falls in each category: 1. Ice cream 6.…
A: Goods can be divided into public goods and private goods. Public goods are non-excludable and…
Q: Case study 1.7: Electricity generation Here and now Distributed power generation will end the…
A: Monopoly is a market structure where single firm operate in the market.
Q: Intellectual property laws are intended to promoteinnovation, but some economists, such as…
A: Intellectual property comes in numerous forms, with some countries recognising more than others.…
Q: Question 14 Marginal Social Cost (dollars per course) Quantity (Number of Students) Marginal Private…
A: We know that the social optimal quantity is the level of quantity at which the social marginal…
Q: The capacity of the earth’s atmosphere in absorbing carbon emission without a serious climate effect…
A: Answer During the 20th and 21st centuries, the emission of CO2 increased rapidly that damaged the…
Q: If you have something that you don’t want anyone to know, maybe you shouldn’t be doing it in the…
A: When questioned about his stance on privacy, Google CEO Erik Schmidt remarked in a live CNBC…
Q: Under which of the following scenarios would a park be considered a common resource? Select one: а.…
A: In an economy, common resources are the items or resource that is available for all as no one…
Q: the same opportunities and threats will apply to each of them
A: A PESTEL analysis is an acronym for a tool used to identify the macro (external) forces facing an…
Q: Consider the three player cooperative game below. Imagine that the net benefits maximum is to…
A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…
Q: Examples of implicit costs are a. Time b. Opportunity c. All of the above d. None of the above…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Answer the following question: 1. Are you more of a listerner or a talker? Which social skill/s do…
A: Whether I am more of a listener or a talker it entirely depends on what sort of company do i have.…
Q: Table 11-6 Consider the city of Widgetapolis with only four residents, John, James, Mary, and…
A: The total surplus would be maximised when the cost would be equal to benefits or willingness to pay…
Q: When it comes to getting a college education, most people consider not O their self-interest; the…
A: Externality refers to spill-over effect of a good or service on the society.
Q: _______ Where does social responsibility of business haveto begin?a. Governmentb. Managementc.…
A: Social responsibility is extremely important to a business. A reputation for strong social…
Q: Match the good with it's best characterization. A. Open-access resource B. Private good C. Public…
A: Public goods are those goods which benefit all the people of society whether he is poor or rich.…
Q: Toiva and Ali were relaxing in a local coffee shop after school. Ali looked at his coffee and said,…
A: According to me, Ali referred to labor exploitation.
Q: Which of the following defines a common resource? Select one: O a. They are excludable and…
A: Common resources are those resources which are common and everyone has equal right to use such…
Q: Eric and Kenji are considering contributing toward the creation of a public park. Each can choose…
A: Public goods are those goods that are non-rival and non-excludable which implies that utilization of…
Q: Answer the following question: 1. Are you more of a listerner or a talker? Which social skill/s do…
A: Whether I am more of a listener or a talker it entirely depends on what sort of company do i have.…
Q: Atlantis produces only coral beads and exotic shells. The table shows the marginal benefit and…
A: The cost that depicts the change in process of production cost that arrives from the production of…
Q: Imagine there are 10 factories on the riverbank. They compete with each other and so want to keep…
A: In cases of common property resources, or natural resources are neglected. While decreasing the cost…
Q: Olivia and Tara are sisters, whose parents requie them to do four hous of househoid chores per week.…
A: Given: No of Dog parks No of the Plants watered Olivia 3 9 Tara 2 4
Step by step
Solved in 2 steps
- Five roommates are planning to spend the weekendin their apartment watching movies, and they aredebating how many movies to watch. The tablebelow shows each roommate’s willingness to pay foreach of the movies:Ava Ridley Spike Kathryn QuentinFirst film $14 $10 $8 $4 $2Second film 12 8 4 2 0Third film 10 6 2 0 0Fourth film 6 2 0 0 0Fifth film 2 0 0 0 0A movie on their streaming service costs $15, which theroommates split equally, so each pays $3 per movie.a. What is the efficient number of movies to watch(that is, the number that maximizes total surplus)?b. For each roommate, what is the preferred numberof movies to watch?Five roommates are planning to spend the weekend in their dorm room watching movies, and they are debating how many movies to watch. Here is their willingness to pay: Willingness to Pay (Dollars) Yakov Charles Gilberto Lorenzo Sam First film 18 15 10 8 5 Second film 16 12 8 5 1 Third film 14 9 6 0 0 Fourth film 12 6 3 0 0 Fifth film 10 3 0 0 0 Buying a DVD costs $20, which the roommates split equally, so each pays $4 per movie. The efficient number of movies to watch (that is, the number that maximizes total surplus) is movies. Complete the following table by indicating the preferred number of movies from the standpoint of each roommate. Roommate 0 1 2 3 4 5 Yakov Charles Gilberto Lorenzo Sam The median roommate prefers movies. Suppose the roommates…There are three industrial firms in Happy Valley.The government wants to reduce pollution to 60 units, so it gives each firm 20 tradablepollution permits.a. Who sells permits and how many do they sell? Who buys permits and how many dothey buy? Briefly explain why the sellers arid buyers are each willing to do so. What isthe total cost of pollution reduction in this situation?b. How much higher would the costs of pollution reduction be if the permits could notbe traded
- A6. 1.Adam and Zoey are competing fish and chips sellers in Linear City. They are located at the twoopposing ends of the town’s 3-mile-long Main Street. The 1700 inhabitants of the town are distributeduniformly on Main Street and each of them eats at most one portion of fish and chips for lunch. People’sdisutility from getting to a fish and chips stand and back home amounts to $2 for each mile of distanceto the stand. The marginal cost of producing one portion of fish and chips is $9. The consumers areuniformly distributed along the street. Each consumer has a valuation of $29.0 for the product. Supposethat both Zoey and Adam can advertise at zero cost to inform everyone about their business. Find theequilibrium price of Zoey if neither of the two sellers advertises.Five roommates arc planning to spend the weekendin their dorm room watching movies, and they arcdebating how many movies to watch. Here is theirwillingness to pay:Quentin Spike Ridley Martin StevenFirst film $14 $10 $8 $4 $2Second film 12 8 4 2 0Third film 10 6 2 0 0Fourth film 6 2 0 0 0Filth film 2 0 0 0 0Buying a DVD costs SIS, which the roommates splitequally, so each pays $3 per movie.a. What is the efficient number of movies to watch(that is, the number that maximizes total surplus)?b. from the standpoint of each roommate, what isthe preferred number of movies?c. What is the preference of the median roommate?d. (f the roommates held a vote on the efficient out~come versus the median voter's preference, howwould each person vote? Which outcome wouldg~ a majority?c. lf one of the roommates proposed a differentnumber of movies, could his proposal beat thewinner from part (d) in a vote?f. Can majority rule be counted on to reach efficientoutcomes in the provision of public go<Xis?Felix and Oscar are roommates. Oscar is messy,and Felix is planning to move out unless they cancome to an agreement. For the roommates to reacha private solution, does it matter whether Oscarcompensates Felix for being messy or Felix paysOscar to clean up?
- Four roommates are planning to spend the weekendin their dorm room watching old movies, and theyare debating how many to watch. Here is theirwillingness to pay for each film:Dwayne Javier Salman ChrisFirst film $7 $5 $3 $2Second film 6 4 2 1Third film 5 3 1 0Fourth film 4 2 0 0Fifth film 3 1 0 0a. Within the dorm room, is the showing of a moviea public good? Why or why not?b. If it costs $8 to stream a movie, how many moviesshould the roommates stream to maximize totalsurplus?c. If they choose the optimal number from part (b)and then split the cost of streaming the moviesequally, how much surplus does each personobtain from watching the movies?d. Is there any way to split the cost to ensure thateveryone benefits? What practical problems doesthis solution raise?e. Suppose they agree in advance to choose theefficient number and to split the cost of the moviesequally. When Dwayne is asked his willingness topay, will he have an incentive to tell the truth? Ifso, why? If not, what will he…The three residents of Smallville are consideringa fireworks display. Clark values this public goodat $80; Lana at $50; and Pete (who dislikesfireworks) at −$30. Fireworks cost the town $120,or $40 per person. The efficient outcome is for thetowna. to provide the public good because the medianperson values it more than its cost per person.b. to provide the public good because a majorityof the residents value it more than its cost perperson.c. to provide the public good because the total valueof a majority exceeds the total cost.d. not to provide the public good because the totalvalue of all residents is less than the total cost.A firm is considering building a two-way network that links 12 users. The cost of building the network is $10,000. a. How many potential connection services does this network provide? b. If each user is willing to pay $150 to connect to the network, will the firm profit by building the network? c. If each user is willing to pay an average of $12 for each potential connection service provided by the network, will the firm profit by building the network? d. What happens to the number of potential connection services if one additional user joins the network?
- 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 solutionThere are three industrial firms in Happy Valley.FirmInitial PollutionLevelCost of ReducingPollution by 1 UnitA 30 units $20B 40 units $30C 20 units $10The government wants to reduce pollution to 60 units,so it gives each firm 20 tradable pollution permits.a. Who sells permits and how many do they sell?Who buys permits and how many do they buy?Briefly explain why the sellers and buyers are eachwilling to do so. What is the total cost of pollutionreduction in this situation?b. How much higher would the costs of pollutionreduction be if the permits could not be traded?Four roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch. Here is their willingness to pay for each film. DongJu Dinh SangMin HyungSeok First film $7 $5 $3 $2 Second film 6 4 2 1 Third film 5 3 1 0 Fourth film 4 2 0 0 Fifth film 3 1 0 0 1) Within the dorm room, is the showing of a movie a public good? Why or why not? 2) If it costs $8 to rent a movie, how many movies should the roommates rent to maximize total surplus? 3) If they choose the optimal number from part 2) and then split the cost of renting the movies equally, how much surplus does each person obtain from watching the movies? 4) Is there any way to split the cost to ensure that everyone benefits? What practical problems does this solution raise? 5) Suppose they agree in advance to choose the efficient number and to split the cost of the movies equally. When DongJu is asked his…