EP ECONOMICS,AP EDITION-CONNECT ACCESS
20th Edition
ISBN: 9780021403455
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 4, Problem 5RQ
To determine
The provision of public and private goods.
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A strategy for consumer 1 in the private provision of public goods model is:
A quantity of public good purchases for each level of public good purchases of consumer 2.
A quantity of public good purchases.
A quantity of public good purchases that maximises 1's utility for each level of public good purchases of consumer 2.
The total quantity of public goods consumed by consumer 1.
O O O O
PRICE (Dollars per unit of electric cars)
500
450
400
350
300
250
200
150
100
50
0
H
0
O
□
1
0
■
The market equilibrium quantity is
O
3
5
QUANTITY (Units of electric cars)
☐ Supply
(Private Cost)
6
Demand
(Private Value)
Social Cost
units of electric cars, but the socially optimal quantity of electric car production is
To create an incentive for the firm to produce the socially optimal quantity of electric cars, the government could impose a
per unit of electric cars.
units.
of 1
PRICE (Dollars per unit of electricity)
2000
1800
1600
1400
1200
1000
800
600
400
200
0
0
O
E
1
O
☐
O
☐
3
■
The market equilibrium quantity is
O
2
4
5
QUANTITY (Units of electricity)
☐
0 Supply
6
(Private Cost)
Demand
(Private Value)
7
Social Cost
(?)
units of electricity, but the socially optimal quantity of electricity production is
To create an incentive for the firm to produce the socially optimal quantity of electricity, the government could impose a
unit of electricity.
units.
of $
per
Chapter 4 Solutions
EP ECONOMICS,AP EDITION-CONNECT ACCESS
Ch. 4.A - Prob. 1ADQCh. 4.A - Prob. 2ADQCh. 4.A - Prob. 3ADQCh. 4.A - Prob. 1ARQCh. 4.A - Prob. 2ARQCh. 4.A - Prob. 3ARQCh. 4.A - Prob. 1APCh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQ
Ch. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - Prob. 5RQCh. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7P
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