2. Classify each of the following items as a public good, a private good, a natural monopoly good, or a common resource, and explain your classification. • A car licence A cinema
Q: A person deposits a sum of Rs. 30,000 at the interest rate of 18% compounded annually for 10 years.…
A: Following are the given values: Deposit amount = 30000 Interest rate = 18% Time = 10 years
Q: When a true null hypothesis is rejected in a hypothesis test, the researcher or analyst has A.…
A: Null hypothesis: A null hypothesis is a form of assumption used in research that indicates that some…
Q: n 2014, 15 hot dogs are produced at a price of $2 each, and 20 burgers at a price of $7 each. In…
A: Given in formations: Price of hot dog in 2014 = $2 Price of hot dog in 2015 = $4 Price of burger in…
Q: What is the importance of the time horizon in macroeconomics? How do short and long-run differ?
A: A time horizon otherwise called an arranging skyline, is a decent mark of time in the future so, all…
Q: The Blank 1 cost is the capital required for most of the activities in the acquisition phase. Blank…
A: Cost of Acquisition (COA) refers to any capital expenditure made at the time a capital asset is…
Q: Explain what supplier-induced demand is.
A: Demand is the quantity of an item or service that consumers buy at various prices during a specific…
Q: opulation growth mproved health and nutrition enforcement of property rights increased educational…
A: DISCLAIMER “Since you have asked multiple question, we will solve the first question for you. If…
Q: 34. The graph below shows a demand curve before and after a tax. Because the tax raises the price of…
A: According to the given graph, Initial quantity is 45 Quantity after tax is 40 Initial price is $11…
Q: Part 4 and 5 of the question please.
A:
Q: Please use the following information to calculate the rate of inflation between the two periods…
A: GDP Deflator = Nominal GDP / Real GDP * 100 Inflation rate = Percentage increase in GDP deflator
Q: 8. Cost-benefit & Cost-effectiveness analysis Given the information below, answer the questions that…
A: Dear learner you have posted a question with multiple sub parts, as per our policy we have solved…
Q: Explain the influence of each of the following events on the quantity of real GDP supplied and…
A: Real gross domestic product is a macroeconomic proportion of the worth of financial result adapted…
Q: Recently the economic conditions of the country have been weakened. Even though inflation has not…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: If the government increases taxes by 50, ceteris paribus, identify or solve for the ... IS Relation…
A: IS curve denotes all the combinations of interest rate and output in which the goods market is in…
Q: Inflation and the Quantity Theory of Money: End of Chapter Problem What does the quantity theory of…
A: According to the quantity theory of money (QTM) , the general level of prices for goods and services…
Q: Suppose the MPC is .6 and consumption increases by $8 billion. Consequently, total income through…
A: Given information, Change in consumption: $8 billion (increase) MPC: 0.6 Find: change in total…
Q: Refer to the accompanying figure. LRAS Inflation a B 0. Y' Output SRAS SRAS AD AD An economy is…
A: when the anti-inflationary policy is enacted, the economy will be in short-run equilibrium at…
Q: Find the monthly house payment necessary to amortize the following loan. In order to purchase a…
A: Given informtaion: A family borrows $70,000 at 12% for 15 years in order to purchase a home. We…
Q: Theoretically, when we are going through the procedure to calculate the incremental ROR (ΔROR), we…
A: When there are two competing investment possibilities with differing investment quantities, the…
Q: Protectionism is most likely to encourage which type of economic policy? O Raising Tariffs on Steel…
A: Protectionism is a government policy that aims the import restriction by imposing tariffs, and…
Q: Jess has the utility function U(x₁, x₂) = min{3x1, 6x2}. The price of x₁ is px₁, Px₂, and his income…
A: This is a case of complementary function where both goods are consumed in the fixed proportion.
Q: "Even if there is full information and that wages and prices are fully flexible as what the…
A: Expansionary fiscal approach incorporates tax breaks, move installments, refunds and expanded…
Q: Assume that you obtain a quote for a one-year forward rate on the Argentinian peso. Assume that…
A: Forward rate: It refers to the transactions that are settled on the basis of price. It is basically…
Q: In Portland, let's assume that Maria sells coffee in a monopolisticly competitive market. Maria…
A: In the monopolistically competitive market, firm's output decision is same as a perfectly…
Q: A granite company is planning to buy a fully automated granite cutting machine. If it is purchased…
A: The cost of the machine when purchased under down payment = $1600000 In the machine purchased on the…
Q: What rule does the representative firm follow in determining its optimal level of investment? The…
A: Dear learner you have posted multiple questions, as per our policy we have solved only first…
Q: Kindly answer all three parts 1) Why do national income accountants compare the market value of the…
A: The total market value of all the finished goods and services produced within a nation's boundaries…
Q: A small company that manufactures automatic blowdown control valves (for applications where boilers…
A: Given the fixed cost, FC = 166128 Variable cost, VC = 613 Number of sells, or break-even quantity =…
Q: Explain the Envelope Theorem for unconstrained and constrained optimization. Give an economic…
A: Theorem: It refers to the research that becomes a hypothesis after several years. Any theorem is…
Q: annel N T ney Channel Subscriber per Month $6.15 $1.52 $1.25 Price Elasticity of Demand -1.8 -2.1…
A: In economics, elasticity calculated the % change of one economic variable in response to a % change…
Q: Define and give some examples of • inflation risk • diversifiable risk • non-diversifiable…
A: Inflation risk is when inflation will undermine an investment's returns through a decline in…
Q: quantities chosen by firm 1 and firm 2 q1 and q2. The market price is given by p=50-2q1-4q2. Firm 1…
A: Given, p = 50 - 2q1 - 4q2 Firm 1 MC is 2 Firm 2 MC is 2
Q: Economics The following table shows the relationship between quantity demanded and quantity supplied…
A: Surplus means the excess of production i.e. when the quantity demanded is greater than the quantity…
Q: structions: Enter your answers as a whole number. How much does aggregate demand need to change to…
A:
Q: QUESTION 1 a) Under what conditions that a discount bond has a negative nominal interest rate? Is it…
A: Nominal interest rate is given as the sum of real interest rate and inflation rate. The Nominal…
Q: Price P₂ P B Supply+tax K O₂ Q Consumer surplus before the tax Based on the figure above,…
A: The figure shows that a tax is imposed on producers. The supply curve will shift to the left. This…
Q: Which of the following statements is false? a. Saving a portion of one's income in a pension is a…
A: Merit goods are goods with positive externality and such goods usually are provided less than the…
Q: Which of the following transactions would be included in GDP? O a. Abeer buys a newly constructed…
A: Gross domestic product (GDP) measures the market value of final goods and services produced by a…
Q: In the market of Product "K". Assume Product "K" is an inferior good. If consumers' income decrease,…
A: A kind of good whose demand decreases as income increases is known as an inferior good. In other…
Q: Suppose a firm shuts down in the short run. Which of the following statements can you infer from the…
A: Shut down means the company closes all its operations because it cannot gain any benefit from it.
Q: a) The following information shows quantity demanded when prices of bread was changed from P3 to P4:…
A: Price elasticity of demand The Price elasticity of demand is the reaction of demand due to change in…
Q: diagram at the right of SRATC and LRAC curves. The SRATC curve s drawn for a given plant size. a…
A: The short run is an idea that expresses that, inside a specific period later on, no less than one…
Q: the ATC of eight 4 qt pas of ice cream is $80 and the AFC of eight pails is 125, the AVC of eight…
A: Here, given information is, Average total cost (ATC): $80 Average fixed cost (AFC): $25 To find:…
Q: If in Ventura county there is an oligopolistic market, where each company has a kinked demand curve,…
A: An oligopoly market structure is when there are few sellers in the market selling identical product.…
Q: 5. What is Impact of governement expenditure on economic growth in rwanda?
A: After the decimation of 1994 which carried the Rwandan economy to grassroots, the public authority…
Q: 4. In the 1960's the U.S economy faced inflationary pressures. Assume that in 1968 there was an AD…
A: The values being given in the question are as follows:- Excess Aggregate demand is given to be as =…
Q: 8 How is the above stimulus bill going to be financed? According to the (Keynesian) theory in the…
A:
Q: Consider an economy that is characterized by the following equations: C= 400 + 0.5 Yd I = 700 -…
A: Given; C= 400 + 0.5 Yd I = 700 - 4000i + 0.1Y G= 200 T= 200 (M/P)d = 0.75Y - 7500i (MP)= 600
Q: With a voluntary export restraint (VER), the economic rent created by the quantitative limit on…
A: An exporting country's ability to export a certain amount of a good to another country is restricted…
Q: Several policy options have been proposed to encourage more people to be vaccinated against the flu.…
A: This is an example of role of government. Now in this case, we have to identify the marginal social…
![2. Classify each of the following items as a
public good, a private good, a natural
monopoly good, or a common resource,
and explain your classification.
●
●
A car licence
A cinema](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb873e768-9054-4048-be4c-e41b8cdd69b1%2F53e840c4-c666-46c2-8b8c-864afbfe0e10%2Ft09dei6_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- 5. Which of the following best describes morality? OIt is defined as the standards people use to judge what is right or wrong.good or evil. O It is the study of ethical values that are perceived in an organization. () It is defined as the tool used to measure the level of social integration present in society. O It is the study of moral standards and its effect on behavior and conduct. 6. A category in Disruptive Technology that makes possible one or more new technologies, processes, or åpplications. * O Catalysts Morphers Enhancers Enablers1. The total demand (marginal benefit) curve for backpacking trips within 30 miles of the Supersti- tions is as follows: (a) Price = 200 -0.5 x NumberOfTrips - 10 x Water Availability Index Describe what water availability does to consumers' demand for trips.4. Four roommates are planning to spend the weekend in their dorm suite watching old olent atsomos movies, and they are debating how many to watch. The table below contains their willingness to pay for each film. 1st film 2nd film 3rd film 4th film 5th film John $7 $6 $5 $4 $3 bhag 12 Seiner Paul $5 $4 $3 $2 $1 van sit Vedda noinwo (hose il qalihe: 0x sla 2102 gulden et 150 yebesnbew sho George $3 $2 $1 $0 $0 olboed yd bacoes maldong taboog diktug ton one forld amesi sbivond themsvde sa asob vrlw Ringo og $2 $1 $0 $0 $0 20607) 1610A (b 2)99712 vdio (9 mag mize itsinsrof wall (d e. Suppose they agree in advance to choose the efficient number of movies and split the cost based on willingness to pay. Does John have an incentive to tell the truth? Why or why not? panini
- 1. Externalities - Definition and examples An externality arises when a firm or person engages in an activity that affects the wellbeing of a third party, yet neither pays nor receives any compensation for that effect. If the impact on the third party is adverse, it is called a externality. The following graph shows the demand and supply curves for a good with this type of externality. The dashed drop lines on the graph reflect the market equilibrium price and quantity for this good. Adjust one or both of the curves to reflect the presence of the externality. If the social cost of producing the good is not equal to the private cost, then you should drag the supply curve to reflect the social costs of producing the good; similarly, if the social value of producing the good is not equal to the private value, then you should drag the demand curve to reflect the social value of consuming the good. ? PRICE (Dollars per unit) QUANTITY (Units) Supply Demand Demand Supply With this type of…Demand: Thinking Like a Buyer — End of Chapter Problem The marginal benefit received for each gallon of gasoline consumed per week for Ang, Tony, and Gianna are provided in the accompanying table. a. On the first graph, move the points to plot an individual demand curve for each person. b. Assuming there are only these three people in the market, create the market demand curve for gasoline on the second graph. Move each of the points of the market demand curve provided to plot the appropriate market demand according to the dataset provided.Demand: Thinking Like a Buyer — End of Chapter Problem The marginal benefit received for each gallon of gasoline consumed per week for Ang, Tony, and Gianna are provided in the accompanying table. a. On the first graph, move the points to plot an individual demand curve for each person. b. Assuming there are only these three people in the market, create the market demand curve for gasoline on the second graph. Move each of the points of the market demand curve provided to plot the appropriate market demand according to the dataset provided. Gallons consumedper week Ang’s marginal benefit Tony’s marginal benefit Gianna’s marginal benefit 1 $7 $4 $8 2 $5 $3 $6 3 $3 $2 $4 4 $1 $1 $2
- Graph the following data on social and market demand: Im pretty sure I have the graph correct but I am unsure how to find the anwsers to the questions. Price ($) 20 18 16 14 12 10 Market quantity demanded (units per month) 10 20 30 40 50 60 Social quantity demanded (units per month) 20 30 40 50 60 70 Does this product have external benefits or external costs? How large ($) is that externality1. Road construction is going on Riccarton Road. 100 Uber drivers want to drop their passengers at the airport. Each driver is deciding whether to take Riccarton Road or take Blenheim Road. The cost of travelling through Riccarton Road is $10 (additional fuel required due to slow traffic), while the Blenheim Road route has a low fuel cost (theoretically let's assume $0) but takes more time to reach the airport. In deciding on a route, each driver cares only about income, denoted i, and his travel time, denoted t (where we have made the dollar value of one unit of travel time equal to 1). Driver's payoff is assumed to be his/ her profit (income - cost of travelling, including travel time). Assume that each driver has same income of $500. If m drivers are on Riccarton Road, the travel time for a driver on Riccarton Road is assumed to be m (in dollars). In contrast, if m drivers take Blenheim Road, the travel time for those on the Blenheim Road is 2m (again, in dollars). Drivers make…les of Microeconomics - Spring21 The table below shows the demand schedules for pizza for Abby and Barry who are the only buyers in the market. Abby's quantity Barry's quantity Price (dollars per slioe) demanded demanded (slices per month) (slices per month) 2.50 25 50 3.00 20 40 3.50 15 30 4.00 10 20 4.50 10 5 00 Based on the table, what is the marginal social benefit from the 45th slice of pizza? Select one: O a. $3.50 O b. $3.25 O c. $0.50 Od. $9
- 1.Explain specifictly how to overcome and solve the major problem of Mcdonal's company from polluting the water? 2. Explain specifictly how to stop the staff from throwing unethically waste inside the water? 3. Explain what the company will do if the staff still throwing unethically waste in the water?Look at the tables below. Person Bob Barb Bill Bart Brent Betty $ Maximum Price Willing to Pay $17 14 13 12 11 10 Person Carlos Courtney Chuck Cindy Craig Chad Instructions: Enter your answers as a whole number. a. What is the total surplus if Bob buys a unit from Carlos? $ b. What is the total surplus if Barb buys a unit from Courtney? $ c. What is the total surplus if Bob buys a unit from Chad? Minimum Acceptable Price $6 7 8 9 10 11 d. If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved?10. In 2012, the Nigerian government removed a subsidy on fuel. One critic of the removal of the subsidy argued that the government was unable to clearly articulate how this would benefit Nigerians, stating, “They made economic arguments that were abstract at best and nonsensical at worst." See if you can do a better job at explaining the rationale for removing such a subsidy. How are people better off without the subsidy?
![Principles of Microeconomics](https://www.bartleby.com/isbn_cover_images/9781305156050/9781305156050_smallCoverImage.gif)
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)
![Principles of Microeconomics](https://www.bartleby.com/isbn_cover_images/9781305156050/9781305156050_smallCoverImage.gif)
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)