Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below. The public's willingness to pay for the 4th acre of parkland is Price (S) 12 12 10 CO 8 2 6 Price ($) 12 12 10 8 2 Price (S) 12 10 2 8 6 0 2 4 6 8 10 Citizen X's Demand 0 2 4 6 8 10 Citizen Y's Demand 0 2 4 6 8 10 Citizen Z's Demand $14 $26 $8 520

4. John Stain estimates that the demand curve for his PaneMaster insulated windows is given by 350-2P Q Currently, John is charging $150 per window, including installation. John is considering a sale. Find the price elasticity of demand for PaneMaster Windows and comment on the advisability of a sale. = a) EQp = -0.67 so the consequences of a sale cannot be determined b) Eqp = -0.67, so a sale would increase profits c) EQp = -6.00, so the consequences of a sale cannot be determined d) EQp = -6.00, so a sale would increase profits

ECONOMICS Please Show Your Work With an Explanation This problem set explores what happens to pricing when we add network effects, which are a specific form of positive externality.   You’ve invented a 3D fax machine. This cool technology is almost like a Star Trek teleporter. You can scan an object at one machine, which creates an exact copy at another 3D fax machine. It is so valuable that as more people use it, it becomes more valuable, and the price any given user is willing to pay increases in turn.   Consider a scenario in which there are 12 possible users, who each value the fax machine at i*n, where i is the index of that user (from 1 to 12), and n is the number of other purchasing users. So, if no one buys the 3D fax machine, everyone values it at 0. However, as soon as one person buys the device, then the 12 possible users begin to value the product at 1, 2, … 12, respectively. If 2 people purchase, the 12 possible users’ valuations increase to 2, 4, … 24, and so on. Because…

M10

How market equilibrium is found with Pollution Abatement Subsidy? Also draw graph and interpret it.

The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. Price ($) 275 250 225 200 175 150 125 100 75 50 25 0 DMBMB sed 10 20 30 40 50 60 70 80 90 100110120 Irrigation (acres) Tools (2) MCpvt MC social

Only typed answer and please don't use chatgpt    The inverse demand for leather is given by P = 50-0.5Q. The industry supply of leather is determined by its marginal cost: MC = 0.4Q. Unfortunately, the production of leather causes noxious chemical residue to leach into groundwater supplies. The external marginal cost caused by these residues grows with the amount of output, and is measured as EMC = 0.05Q.   1A. How many leather is produced in the free market if the externality is not corrected.   B) What is the free market price of the leather if the externality is not corrected?   C) What is the social marginal cost?

what will happen in the marketfor tomatoes if a new study is released that shows tomatoes contain antioxidants that may prevent cancer

04. The maximum that buyers are willing to pay for the 8-th unit of this product is     a) $2     b) $4     c) $8     d) $12

Assume you have your car broken down just before the weekend. You value your weekend trip as muchas v and if you have to stay home you get the zero utility. There are two dealerships in your town. Atthe beginning of the day they simultaneously choose a price for repair. Dealers know that when you cometo one of them and observe the price, you can always call to another dealer to make an inquiry about hisprice. The call is costless. The other dealer, however, can be occupied for this day. Assume, this happenswith probability   which is a common knowledge (but the dealers do not know whether the other dealer isoccupied or not). Assume zero repair cost for the dealer and find a symmetric equilibrium of the game.