1. Use of a benefit-cost ratio criterion identifies a set of “loser" policies. Using complete sentence(s)and 25 words or less, define a "loser" policy in this context.

Cost benefit ratio: It refers to the ratio between the costs and the benefits of the project that is…

Answered: 1. Use of a benefit-cost ratio…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Working with Numbers and Graphs Q1 Suppose the marginal costs of reading are constant at $14 per hour, while the marginal benefits of reading decline (over time) as more reading is performed. In particular, suppose the following table contains the marginal benefit associated with various levels of hours spent reading. Time Spent Reading Marginal Benefits (Hours) (Dollars per hour) 10 16 40 4. Assume the marginal-benefit curve is a straight line through the two points described in the table. On the following graph, use the blue points (circle symbol) to plot the marginal-benefit curve for reading. Next, use the orange points (square symbol) to plot the marginal-cost curve for reading. Finally, use the black point (plus symbol) to indicate the point corresponding to the efficient amount of reading (that is, the point at which the net benefits of reading are maximized). MARGINAL COST, MARGINAL BENEFIT (S per hour of reading per week) 10 12 14 20 10 At any level of reading below the…
1 As a principal trying to determine whether to spend $20 per student for access to an online textbook program, all I need to know is whether the marginal benefit for each student is greater than $20. Explain.
2. Let the smoke emitted by a widget manufacturing plant is so bad that the welfare if people residing in the vicinity are being severely affected. The cost imposed on the people residing in the vicinity is estimated to be $ 100,000 while the value of production (smoke comes as a byproduct) for the plant is $ 120,000. a) Are too much, too little or the right number of widgets being produced? b) If the plant makes an offer of S 110,000 to the residents to compensate for the harmful smoke, can we conclude that the externality (if any) is internalized? c) If the plant makes an offer of S 110,000 to the residents to compensate for the harmful smoke, can we conclude that all the costs (or benefits) of the action are being considered? d) If the plant makes an offer of $ 110,000 to the residents to compensate for the harmful smoke, can we conclude that the efficient (surplus maximizing) quantity of widgets would be produced?
29 Choice obliges us to give up something while it enables us to achieve something. What is this condition called? a) Marsall effect B) externality NS) trade off D) crowding out TO) Fisher effect
your marginal benefits for eating candy bars is shown in the table below # Hot Dogs Marginal benefit 0 0 1 7 2 4 3 2 4 1 Which core principle is represented in this scenario if any? If the price of candy bar is $3 how many should you buy Explanation
28) Explain the utilitarianism principle. How is it deficient? 29) What is the "big tradeoff"?
c) At 700 units of the activity, marginal benefit is $__________ and marginal cost is $__________. d) Subtracting the 700th unit of the activity causes net benefit to __________ (increase, decrease) by $__________.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.
31) People respond to incentives A) by ignoring negative incentives and responding to positive incentives only. B) only when they are irrational. C) by calculating their individual costs and benefits and determining which is greater. D) when they have low incomes. 32) The threat of a large fine for failure to pay income taxes is an example of A) the excessive power of the Internal Revenue Service. B) the ineffectiveness of incentives to get people to pay their taxes. C) a negative incentive to get all people to pay taxes. D) people failing to consider all the benefits the government provides them. 33) A politician says that the government should tax behavior they want less of and subsidize behavior they want more of. This is an example of A) cynical behavior in modern democracies. B) failing to consider the alternatives available to the government. C) a concern that people are not rational when they make decisions. D) using incentives to alter…
Your marginal benefit from eating candy bars is shown in the table below: # Candy Bars Marginal Benefit 0 0 1 7 2 4 3 2 4 1 Can anyone help?

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1. Use of a benefit-cost ratio criterion identifies a set of "loser" policies. Using complete sentence(s) and 25 words or less, define a "loser" policy in this context.