Homework Help is Here – Start Your Trial Now!
Business
Economics
People are increasingly dependent upon social media to connect with friends and family and to receive essential news. This means that high-speed internet access has become an essential service. High-speed internet access is relatively non-rival, and, when people do not use passwords, it is non-excludable. High-speed internet is therefore Underprovided by the market. Overused by the market. Efficiently used and provided by the market. Ambiguously used and provided by the market. QUESTION 18 Suppose that there are three people in a community that want public internet access. Use the table of marginal willingness to pay for public internet hotspots below for #18 - 19. TIT Number of Person A Person B Person C Hotspots 30 $20 $10 10 10 20 $25 $20 %$425 2415 10 10 $15 310 15 10 If the marginal cost for installing a hotspot is constant at $45 per hotspot and the fixed cost is $0, how many hotspots should the government provide? QUESTION 19 If the marginal cost of installing a hotspot is constant at $45 per hotspot, and the fixed cost is $0, how much should the government tax each person in order to provide the hotspots? Assume that the government taxes all members of the community equally.

People are increasingly dependent upon social media to connect with friends and family and to receive essential news. This means that high-speed internet access has become an essential service. High-speed internet access is relatively non-rival, and, when people do not use passwords, it is non-excludable. High-speed internet is therefore Underprovided by the market. Overused by the market. Efficiently used and provided by the market. Ambiguously used and provided by the market. QUESTION 18 Suppose that there are three people in a community that want public internet access. Use the table of marginal willingness to pay for public internet hotspots below for #18 - 19. TIT Number of Person A Person B Person C Hotspots 30 $20 $10 10 10 20 $25 $20 %$425 2415 10 10 $15 310 15 10 If the marginal cost for installing a hotspot is constant at $45 per hotspot and the fixed cost is $0, how many hotspots should the government provide? QUESTION 19 If the marginal cost of installing a hotspot is constant at $45 per hotspot, and the fixed cost is $0, how much should the government tax each person in order to provide the hotspots? Assume that the government taxes all members of the community equally.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question

please answer all parts of q below 

People are increasingly dependent upon social media to connect with friends and family and to receive essential news. This means that high-speed internet access has become an essential service. High-speed internet access is relatively non-rival, and, when people do not use passwords, it is non-excludable. High-speed internet is therefore Underprovided by the market. Overused by the market. Efficiently used and provided by the market. Ambiguously used and provided by the market. QUESTION 18 Suppose that there are three people in a community that want public internet access. Use the table of marginal willingness to pay for public internet hotspots below for #18 - 19. Number of Person A Person B Persen C Hotspots $35 $25 $15 $30 $20 $10 $0 $0 $0 $30 $25 $20 $15 $10 $5 2 3 4 $5 $0 $0 If the marginal cost for installing a hotspot is constant at $45 per hotspot and the fixed cost is $0, how many hotspots should the government provide? QUESTION 19 If the marginal cost of installing a hotspot is constant at $45 per hotspot, and the fixed cost is $0, how much should the government tax each person in order to provide the hotspots? Assume that the government taxes all members of the community equally.
Transcribed Image Text:People are increasingly dependent upon social media to connect with friends and family and to receive essential news. This means that high-speed internet access has become an essential service. High-speed internet access is relatively non-rival, and, when people do not use passwords, it is non-excludable. High-speed internet is therefore Underprovided by the market. Overused by the market. Efficiently used and provided by the market. Ambiguously used and provided by the market. QUESTION 18 Suppose that there are three people in a community that want public internet access. Use the table of marginal willingness to pay for public internet hotspots below for #18 - 19. Number of Person A Person B Persen C Hotspots $35 $25 $15 $30 $20 $10 $0 $0 $0 $30 $25 $20 $15 $10 $5 2 3 4 $5 $0 $0 If the marginal cost for installing a hotspot is constant at $45 per hotspot and the fixed cost is $0, how many hotspots should the government provide? QUESTION 19 If the marginal cost of installing a hotspot is constant at $45 per hotspot, and the fixed cost is $0, how much should the government tax each person in order to provide the hotspots? Assume that the government taxes all members of the community equally.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Inflation and Unemployment
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS