K100100100100100100100100100p=0.1d.p=18887868584820ALB0COCHG+DⒸd. C+H+K5101520253035Suppose you are given some information on a firm's production costs in Table 1, where Kis the firm's capital, Lis labor (number of workers and is the output level. For which of the following price is itcertain that the firm will make a positive profit in the long run? (There may be more than one correct answer!ap-10b.p-240FC100100100JOb.+G+D+E+H+K100100100100100100KDEHvc060 90154575001051209020110120125128129New SupplySupplyThe figure above represents a market before and after government intervention. New Supply represents the supply curve after the policy is imposed.DemandWhat area represents government revenue/expenditure after the policy is imposen?O4E+H 210"40"What kind of externality is present in this market?O a. A negative consumption externality of x-10.Ob. A positive consumption externality of x = 20.Oc. A positive consumption externality of x = 10.Od. A negative consumption externality of x-20.#1•Supply(P-40+Q₂)10 "Demand (P-200-QSocial Marginal BenefitP-20-9.2009210QSuppose the government imposas a policy (tax or subsidy) such that the new Supply curve lies on the Social Marginal Cost curve. What area represents the government revenue or expenditure from thispolicy?Ⓒa.DIGHOb. E-HⒸI+G+D+E+H+KⒸd.E+HIK

Since multiple independent McQs are posted, according to the guidelines, the first McQ is answered.…

Supply (P-Q) Sotal Maral Demand (P-200-Q) P-e-Q Q What kind of externality is present in this market? Oa. A negative consumption externality of x-10. Ob. A positive consumption externality of x = 20. Oc. A positive consumption externality of x-10. Od. A negative consumption externality of x-20.

Supply (P-Q) Sotal Maral Demand (P-200-Q) P-e-Q Q What kind of externality is present in this market? Oa. A negative consumption externality of x-10. Ob. A positive consumption externality of x = 20. Oc. A positive consumption externality of x-10. Od. A negative consumption externality of x-20.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

K
100
100
100
100
100
100
100
100
100
p=0.1
d.p=1
88
87
86
85
84
82
0
A
L
B
0
C
OCHG+D
Ⓒd. C+H+K
5
10
15
20
25
30
35
Suppose you are given some information on a firm's production costs in Table 1, where Kis the firm's capital, Lis labor (number of workers and is the output level. For which of the following price is it
certain that the firm will make a positive profit in the long run? (There may be more than one correct answer!
ap-10
b.p-2
40
FC
100
100
100
J
Ob.+G+D+E+H+K
100
100
100
100
100
100
K
DE
H
vc
0
60 90
15
45
75
00
105
120
9
0
20
110
120
125
128
129
New Supply
Supply
The figure above represents a market before and after government intervention. New Supply represents the supply curve after the policy is imposed.
Demand
What area represents government revenue/expenditure after the policy is imposen?
O4E+H

210
"
40
"
What kind of externality is present in this market?
O a. A negative consumption externality of x-10.
Ob. A positive consumption externality of x = 20.
Oc. A positive consumption externality of x = 10.
Od. A negative consumption externality of x-20.
#1
•
Supply(P-40+Q₂)
10 "
Demand (P-200-Q
Social Marginal Benefit
P-20-9.
200
9
210
Q
Suppose the government imposas a policy (tax or subsidy) such that the new Supply curve lies on the Social Marginal Cost curve. What area represents the government revenue or expenditure from this
policy?
Ⓒa.DIGH
Ob. E-H
ⒸI+G+D+E+H+K
Ⓒd.E+HIK

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