Ans both otherwise don't answer 1. Two goods, Police and AOG. Assume prices are 1. Budget is 1000. The city receives acategorical grant of 500 for police services. Show a situation where taxes are reduced andpolice services remain unchanged. This is called_2. Two goods, police and fire. Assume prices are 1. Budget is 2000. The city receives a 1:1matching grant for police services. Show a situation where fire and police spending areincreased.

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Answered: 1. Two goods, Police and AOG. Assume…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Many people in the property and liability insurance industry complain about the “automobile problem.” The “automobile problem” consists of a series of interrelated problems. What factors have combined to produce a problem in the automobile insurance area?
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Price (thousands of dollars) 100 80 60 40 20 5 10 15 MC 20 MB 25 Quantity (police officers) The figure above shows the marginal cost and marginal benefit of police protection in the city of Hugo, Oklahoma. Police protection is a public good. If the city of Hugo hires 25 officers, then OA. marginal cost will exceed marginal benefit, which means that the efficient number of officers is less than 25. B. marginal benefit will exceed marginal cost, which means that Hugo should reduce the number of officers they hire. OC. marginal benefit equals marginal cost. D. marginal cost will exceed marginal benefit, which means that the efficient number of officers is more than 25. OE. None of the above answers is correct. 1 5 $ 54 # 3 R E D MacBook Pro % ^ 5 6 F T Y 27 G H U כ 8 * 00 X C V B N H ed J - < ) 9 -O M K Time Remaining: 00:44:50 Next 40 |- 00 0 L V- P .V 11 + لالي = - ? H r command option } 1
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1 The functional e-demand factors can be organized into three quality packages(USS): Use quality, System Quality, and Service quality. Select one: a. False b. True
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Empirical evidence suggests that state laws mandating health insurance coverage for alcoholism treatment leads to moral hazard on the part of the insured population. Given this information, what are you most likely to observe in a state that has passed such a law? A. Less use of alcohol treatment facilities B. Lower rates of drunk driving C. Higher rates of alcoholism D. Lower sales of alcohol

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1. Two goods, Police and AOG. Assume prices are 1. Budget is 1000. The city receives a categorical grant of 500 for police services. Show a situation where taxes are reduced and police services remain unchanged. This is called_