Lawmakers must decide on government budget fast: will they prioritize increasing budget for the Department of Health given the COVID-19 epidemic or Department of Education to support the online needs of teachers and students. They must decide and obtain a majority agreement among themselves. Dilemma arising from Obligation B Multi-person Dilemma Dilemma arising from Prohibition D Epistemic Dilemma Single Agent Dilemma World Imposed Dilemma
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- Alice and Bob are each confronted with the choice between: A. Purchasing a set of headphones at the bookstore on campus for $25. OR B. Purchasing an identical set of headphones downtown for $10. If Alice chooses option A, but Bob chooses option B, which of the following must be true if Alice and Bob are both rational? - Alice and Bob face the same inconvenience associated with going downtown - for Bob, the inconvenience associated with traveling downtown was less than $15 - for Alice, the inconvenience associated with traveling downtown was greater than $10 - for Bob, the inconvenience associated with traveling downtown was greater than $15This is not a writing assignment, this is a multiple-choice question Of the following, in which case have the incentives been correctly placed to produced the desired results? Group of answer choices To protect the beautiful beach it is made communal property that belongs to everyone, together, and to no one individually. Each person using the beach thinks that the beach belongs to him/her, but when leaving the beach leaves his/her trash around for someone else to pick up, because the beach really belongs to everyone. Rent control forces the price of apartments below the market rate to make apartments more affordable, but has no income restriction requiring the lower priced apartments to be rented out to low income people. Rent control always results in shortage. Landlords prefer to rent out their few available apartments to people with assured income and small families. A piece of communal property is parceled out to many families, and each family receives a plot in which to…Kyoko and Rina are considering contributing toward the creation of a public park. Each can choose whether to contribute $300 to the public park or to keep that $300 for a weekend getaway. Since a public park is a public good, both Kyoko and Rina will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.90 of benefit. For example, if both Kyoko and Rina choose to contribute, then a total of $600 would be contributed to the public park. So, Kyoko and Rina would each receive $540 of benefit from the public park, and their combined benefit would be $1,080. This is shown in the upper left cell of the first table. Since a weekend getaway is a private good, if Kyoko chooses to spend $300 on a weekend getaway, Kyoko would get $300 of benefit from the weekend getaway and Rina wouldn't receive any benefit from Kyoko's choice. If Kyoko still spends $300 on a weekend getaway and Rina chooses to contribute…
- Suppose that there are three beachfront parcels of land available for sale in Asilomar and six people who would each like to purchase one parcel. Assume that the parcels are essentially identical and that the minimum selling price of each is $445,000. The following table states each person's willingness and ability to purchase a parcel. Person Willingness and Ability to Purchase (Dollars) Ana 510,000 Charles 470,000 Dina 420,000 Gilberto 390,000 Juanita 380,000 Yakov 600,000 Which of these people will buy one of the three beachfront parcels? Check all that apply. A. Ana B. Charles C. Dina D. Gilberto E. Juanita F. Yakov Assume that the three beachfront parcels are sold to the people that you indicated in the previous section. Suppose that a few days after the last of those beachfront parcels is sold, another essentially identical beachfront parcel becomes available for sale at a minimum price of $432,500. This fourth…Please note that the answer of 26 is correct for the question. I know that the answer will be 13 if it's social optimal. Bu tplease provided a detailed solution of why it's 26 when it's not social optimal.Suppose a municipality votes to reduce the combined pollution introduced by three local companies. Presently, each firm creates 4 units of pollution in the area, for a total of 12 pollution units. The government can reduce total pollution in the area to 6 units by choosing between the following two methods: Methods to Reduce Pollution 1. The government imposes pollution standards using regulation. 2. The government issues tradable pollution permits. The costs faced by each firm are different, so it is more difficult for some firms to reduce pollution than others. The following table shows the cost faced by each firm to eliminate each unit of pollution. Assume that the cost of eliminating all 4 units of pollution (that is, reducing pollution to zero) is prohibitively expensive for all three firms. Firm Firm A Firm B Firm C First Unit of Pollution (Dollars) 80 550 75 Cost of Eliminating the... Second Unit of Pollution Third Unit of Pollution (Dollars) 210 1,075 130 (Dollars) 130 700 90…
- Your total benefits from spending time with your spouse are shown in the following table. Hours per Day Total Benefit 0 0 1 20 2 38 3 54 4 68 5 80 6 90 7 98 8 104 Alternatively, you have the option of working as many hours as you want, earning $11 per hour. Assume this is the next best use of your time. Use the marginal principle to find your optimal number of hours to spend with your spouse per day. The optimal amount of time for you to spend with your spouse is hours per day Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.A small community has 20 people, each of whom has a wealth of $12,000. Each individual must choose whether to contribute $300 or $0 to the support of public entertainment for their community. The money value of the benefit that a person gets from this public entertainment is b times the total amount of money contributed by individuals in the community. Question 3 options: If 20b > 1, everybody is better off if all contribute to the public entertainment fund than if nobody contributes, but if 20b < 1, everybody is better off if nobody contributes than if all contribute Everybody is worse off if all contribute than if nobody contributes if b > 1, but if b < 1, everybody is better off if nobody contributes. This game has a dominant strategy equilibrium in which nobody contributes anything for public entertainment. If 20b > 1, there is a dominant strategy equilibrium in which everybody contributes. In order for there to be a dominant strategy equilibrium in which all…while this topic may seem insensitive given the recent events in Uvalde (and others), in economics the "Guns vs. Butter" debate has been used for decades to describe the choice and trade-offs between producing a governmental capital goods (guns) vs. personal consumer goods (butter) in society. Please keep this in mind and do not get off topic in the guns vs. no guns debate or the idea of gun legislation. In this exercise you will demonstrate your ability to draw a simple production possibilities curve given data on the quantity of one input (labor) and the amount of labor required to produce each of two outputs (guns and butter). You should also be able to identify the opportunity cost of one good in terms of the other as the slope of the PPC. You will go on to explain your analysis. Guns or Butter? Suppose a nation has a total of 24 units of labor, which can be used to produce either guns or butter. One gun takes 6 units of labor to produce and 1 butter takes 2 units of labor to…
- 1.1) Describe a significant trade-off that you recently faced and give an example of some action that has either monetary or nonmonetary opportunity costAngela works on farmland owned by Bruno. The diagram illustrates their joint feasible frontier. Angela's indifference curves are all assumed to have an identical slope, for any given amount of free time. This means that they are all parallel. Angela and Bruno can bargain costlessly. Bushels of grain 8 12 Angela's reservation indifference curve, IC₁ IC₂ D 0 0 16 Angela's hours of free time 20 24 Feasible frontier: Angela and Bruno combined a) Assume that Angela's reservation option is at point F. Explain the meaning of "Pareto efficient" and give two ways that we know that point F is not Pareto-efficient. Explain why moving between point F and point E would not improve efficiency. (4 marks) b) How might Angela and Bruno achieve a Pareto-efficient outcome? Explain how the negotiation might work. Use indifference curves to show where this outcome will be on the diagram. (3 marks) c) Explain why it would not be Pareto-efficient to simply aim to produce the maximum total amount of grain,…Please answer fast please arjent help please choice the correct option and correctly answer fast ASAP