11.05Unanswered • 2 attempts leftBailey has a dog whose loud barking upsets theirneighbour, Harper. Assume that the benefitBailey gets from the dog is $600 and that Harperincurs a cost of $800 from the dog's barking. IfBailey has the legal right to own the dog what isa private solution for this issue?Harper pays Bailey $599 to give the dogAaway.Harper pays Bailey $700 to give the dogВaway.Bailey pays Harper $700 to compensateCfor her dog's barking.A private solution that improves thisscenario is not possible.

Coase theorem is an economic theory of property rights. It states that in case of competitive…

Answered: 11.05 Unanswered • 2 attempts left…

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter10: Externalities

Section: Chapter Questions

Problem 5PA

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Consider a small town with only three families, the Greene family, the Brown family, and the Black family. The town does not currently have any streetlights so it is very dark at night. The three families are considering putting in streetlights on Main Street and are trying to determine how many lights to install. The table below shows each family’s willingness to pay for each streetlight. Number ofStreetlights The Greene Family The Brown Family The Black Family 1 $340 $480 $420 2 260 380 400 3 160 260 340 4 40 130 240 5 0 50 100 6 0 0 20 Refer to Table 11-2. Suppose the cost to install each streetlight is $360 and the families have agreed to split the cost of installing the streetlights equally. If the residents choose to install the number of streetlights that will maximize total surplus from the streetlights, how much total surplus will the Greene family receive? a. -$80 b. $360 c. $320…
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. How would you analyze the crime related information that the police haveif you had access and what actions would you take as a result.
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mentQu102 - P Search (Alt+Q) es Mailings Review View Help Ao三、三、i、 AaBbCcDd AaBbCcDd AABBCC AABBCCD AaB AaBbCcD = 三、、田、 1 Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Paragraph 5) There have been proposals that a tax be imposed on sugar-laden soft drinks in an attempt to reduce their consumption. Assume for simplicity that all bottled soft drinks are the same size. Suppose the initial market equilibrium is P = $2.00 and Q= 1000. (see figure 2 below) Styles a) Refer to Figure 2. Suppose the government imposes a tax of $0.60 per soft drink purchased. The price paid by the consumer becomes = b) Refer to Figure 2. Suppose the government imposes a tax of $0.60 per soft drink purchased. The after-tax price received by the seller becomes = c) Refer to Figure 2. Suppose the government imposes a tax of $0.60 per soft drink purchased. The government total tax revenue from sales of soft drinks is = %3D d) Refer to Figure 2. Suppose the government imposes a tax of $0.60 per soft drink…
3
2. Suppose your neighbor likes to host parties at their house. They value having these parties at $200. These parties, however, impose a cost on you due to the noise they make. a. If your disutility is $100 from the noise being made, and you have the right to it being quiet, is there a solution that you and your neighbor can agree on? If so, what is it? b. If your disutility is $250 from the noise being made, and you have the right to no noise being made, is there a solution that both of you could agree on? If so, what is it? If not, what can change in terms of property rights to make an agreement possible?
Pls help ASAP on both

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