PIE Answer the question on the basis of this table showing the marginal benefit that a particular public project will provide to each of the three members of a community. No vote trading is allowed. Voter Xavier Yoho Zest Marginal Benefit $ 500 200 2,000 If the tax cost of this proposed project is $600 per person, a majority vote will Multiple Choice defeat this project and resources will be underallocated to it. defeat this project and resources will be allocated efficiently. pass this project and resources will be overallocated to it. defeat this project and resources will be overallocated to it. 6 < Prev 6 of 10 tv Next >

PIE Answer the question on the basis of this table showing the marginal benefit that a particular public project will provide to each of the three members of a community. No vote trading is allowed. Voter Xavier Yoho Zest Marginal Benefit $ 500 200 2,000 If the tax cost of this proposed project is $600 per person, a majority vote will Multiple Choice defeat this project and resources will be underallocated to it. defeat this project and resources will be allocated efficiently. pass this project and resources will be overallocated to it. defeat this project and resources will be overallocated to it. 6 < Prev 6 of 10 tv Next >

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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ded Answer the question on the basis of this table showing the marginal benefit that a particular public project will provide to each of the three members of a community. No vote trading is allowed. Voter Marginal Benefit Xavier Yoho Zest 1 If the tax cost of this proposed project is $600 per person, a majority vote will Multiple Choice $ 500 200 2,000 O defeat this project and resources will be underallocated to it. defeat this project and resources will be allocated efficiently. pass this project and resources will be overallocated to it. defeat this project and resources will be overallocated to it. SEP 5 ▶ -
1. True or False d. In the presence of an unpriced negative externality such as roadway congestion, marginal private benefit will be less than marginal social cost. e. The optimal level of roadway congestion is zero. f. The optimal congestion toll on a road would be the difference between marginal benefit and marginal private cost at the optimal level of road usage.
. What are the three problems facing a government trying to determine the optimal quantity of a public good? explain.
. Explain why it might be socially and economically optimal for a government to have a public policy that subsidizes students who attend and graduate college
Aggregation of individual preferences about a public project through majority votingwill necessarily lead to an unambiguous decision on the level of the society. True of false .?
1. Describe the terms the plurality and the majority with an example. 2. Which method could violate the Majority Criterion and which methods always satisfy the monotonicity criterion?
Explain briefly why the shape of the demand curve for the public good is downward sloping for HHA and upward sloping for HHB.
Identify two benefits of CAFE standards. See additional directions below. Identify two costs of CAFE standards. See additional directions below. Brietly explain in a. and b. why each cost or benefit fits its respective definition and distinguish private from external benefits or costs. Please also identify if the benefit or cost is real or monetary. Finally, please indicate whether the benefit or cost is unique to CAFE standards or а. b. common to both CAFE standards and fossil-fuel taxes.
5. Describe how taxes can lead to efficiency losses. Your answer should include a graph and an explanation of what the graph illustrates.
Which of the FF. will produce the optimal welfare for the society? A. Marginal private gain + Marginal social gain = Marginal private cost + Marginal social cost B. Marginal private gain = Marginal social cost in the presence of positive externalities C. Marginal private gain = Marginal social cost in the presence of negative externalities D. Marginal private gain + Marginal social gain < Marginal private cost + Marginal social cost E. no correct answer