Given these two individual demand curves, what is the equation for the market demand curve for a private good? I.P200 - 10Q il.P-200 - (20/3)Q Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. P= 200 - 4Q b P=200 - 8.33Q P= 100 -8.33Q P= 100 - 1.67Q
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- 3. The Centers for Disease Control and Prevention (CDC) has a new vaccine against a disease and are trying to determine the optimal percentage of the population that should be vaccinated. They do not recommend vaccinating the whole population against the smallpox virus because the vaccine has undesirable, and sometimes fatal, side effects. Suppose the following table gives the data about the effects of the vaccine. a. Calculate the Marginal Benefit (in terms of how many extra lives are saved by the vaccine) and the marginal cost (in terms of how many extra lives are lost due to side effects) of each 10% increment of the vaccination. Write your answers on the appropriate columns above. b. Using marginal thinking, determine the optimal percentage of the population that should be vaccinated. Explain your answer.1- Suppose, a polluting firm initially discharges 80tons of CO2 emissions into a fishery firm. Without liability law in place, it causes a total damage of say, $22,000 to the fishery. With liability law, it undertakes a scheme to reduce emissions from 80 tons to 50 tons where MAC=MD. But the scheme costs the polluting firm $ 4500. How much the polluting firm can save from the total damage now? Show with graph.6. What is the expected impact of increased security measures imposed by the federal government on (a) airline fares and (b) volume of travel. Demonstrate your answers graphically.
- 6. The production function for a process is x = 16(e1 + e2) if e₁ and e2 are both greater than zero, if either equal zero, then x = 0. The effort exerted by team member i is e; and x is measured in dollars. The sharing rule is that they split the yield of their joint effort in half. Team member i's utility is given by u; = m; - 2e, where m is income. The marginal disutility of effort for team member i is 4ei. (a) Find the efficient effort levels, production, and utility levels. (b) What is the outcome associated with their partnership (effort and income levels)? (c) What is the maximum amount that these two team members would be willing to pay someone to monitor their effort levels? Assume that the monitor has a big enough whip to completely stop any shirking.4.00 3.50 3.00 2.50 2.00 1.50 1.00 D. 0.50 1. 6. 8. 6. 10 11 12 13 14 15 Quantity (thousands of dozens per month) At a price of $1.50 per dozen, how many bagels are supplied per month? 5. 4. 3. 2. Price per dozen bagelsQ5 Homework • Unanswered Given these two individual demand curves, what is the equation for the market demand curve for a private good? i. P=200 - 10Q ii. P=200 - (20/3)Q Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a P= 200 - 4Q P=200 - 8.33Q P = 100 - 8.33Q d. P = 100 - 1.67Q Unanswered A Submit
- You have conducted a study to determine if there is independence or dependence between market segments (A-C) and prices the segments are willing to pay for a product. The following cross tabular output appears. Under $10 $11-$15 over $15 All A 50 30 20 100 50.00 30.00 20.00 33.33 27.27 50.00 16.67 10.00 6.67 50.00 36.67 13.33 0.000 1.212 3.333 B 40 50 10 100 40.00 50.00 10.00 26.67 45.45 25.00 13.33 16.67 3.33 50.00 36.67 13.33 2.000 4.848 0.833 C 60 30 10 100 60.00 30.00 10.00 40.00 27.27 25.00 20.00 10.00 3.33 50.00 36.67 13.33 2.000 1.212 0.833 All 150 110 40 300…The socially efficient outcome is (choose one) every farmer owns one sheep. one farmer owns 5 sheep and the other four farmers own O sheep. one farmer owns 3 sheep and the other four farmers own a total of 2 sheep. the village has a total of 3 sheep to be grazed on the village green. the village has a total of 4 sheep to be grazed on the village green. the village has a total of 2 sheep to be grazed on the village green.Suppose that a surfboard designer owns a building and is renting part of the building's space to a doctor. Further suppose that because the surfboard designer is the owner, he has the right to make noise during the day while he sands the boards. While the doctor cannot insist on a quiet environment, the doctor could move to a quieter building. However, rent in the next best building is $400/month more than rent in the noisy building. The surfboard designer can adopt a new technology that eliminates the noise for $325/month. Given this situation, can the doctor find a private solution with the surfboard designer that will make both better off? What is the minimum and maximum payment the doctor would make to the surfboard designer to get the doctor to install the noise-reducing equipment? NOTE: Round your answers to the nearest dollar. Minimum: $ Maximum: $
- Mary is a corn farmer in Iowa. If she does not irrigate his field, she can produce 120 bushels of corn per acre. If she applies 4 inches of irrigation water, she can produce 140 bushels of corn per acre. The application of 8, 12, and 16 inches of irrigation water can result in 160, 180, and 200 bushels of corn per acre, respectively. Graph the relationship between the amount of water applied and corn yield for Mary (Assume a straight-line relationship). Find and interpret the slope and Y interceptAnswer the following: 3. What is meant by the term “other customers” and why is their influence so much greater for services compared to goods? 4. Why do consumers of service perceive higher levels of risk associated with their purchase compared to goods purchase. 5. What are the marketing challenges that arose as a result of the intangibility of services? Discuss in detail.1. Occupational licensing is an example of an entry barrier that improves a country's standard of living. Group of answer choices True False 2. Network externalities refer to the situation where the usefulness of a product increases with the number of consumers who use it. Group of answer choices True False