ECONOMICS W/CONNECT+20 >C<
20th Edition
ISBN: 9781259714993
Author: McConnell
Publisher: MCG CUSTOM
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Chapter 4, Problem 3RQ
To determine
The efficiency loss.
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P = 16-.25Q
MC = 2 + .25Q
Production creates an external benefit equal to $2 per unit.
What price and quantity maximize profit in this market?
O28, $10
28, $9
O 24, $9
O 24, $10
7....
I need help on question A only
Chapter 4 Solutions
ECONOMICS W/CONNECT+20 >C<
Ch. 4.A - Prob. 1ADQCh. 4.A - Prob. 2ADQCh. 4.A - Prob. 3ADQCh. 4.A - Prob. 1ARQCh. 4.A - Prob. 2ARQCh. 4.A - Prob. 3ARQCh. 4.A - Prob. 1APCh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQ
Ch. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - Prob. 5RQCh. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7P
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- PRICE (Dollars per unit of electric cars) 500 450 400 350 300 250 200 150 100 50 0 H 0 O □ 1 0 ■ The market equilibrium quantity is O 3 5 QUANTITY (Units of electric cars) ☐ Supply (Private Cost) 6 Demand (Private Value) Social Cost units of electric cars, but the socially optimal quantity of electric car production is To create an incentive for the firm to produce the socially optimal quantity of electric cars, the government could impose a per unit of electric cars. units. of 1arrow_forwardSuppose there is a public good, this good would add 50 dollars in benefit to each of the 1000 people living in the city. At what costs would they agree to build it? O 75000 O 40000 O 25000 O both 40000 and 25000arrow_forwardP COUNTRY 1 25 20 15 10 5 0 d1 Q 0 3 6 9 1215182124 s1 IP INTERNATIONAL MARKET 25 20 15 10 LO 5 P S2 22. What will be the quantity demanded by country 1 from the rest of the world at a price of 5? O(a) 6 O (b) 9 O (c) 12 O (d) 15 S1 IP D2 0 0 3 6 9 1215182124Q 225 P 25 15 10 5 D1 0 20 COUNTRY 2 S2 IP d2 0 3 6 9 1215182124Qarrow_forward
- QUESTION 19 28 24 20 16 12 8 4 P 0 4 8 S1 12 16 19. A possible explanation for supply shifting from S1 to S2 is O a) an improvement in technology. b) a decrease in demand. an increase in demand. d) an increase in the cost of energy. e) an increase in the number of buyers. D1 - 20 S2 D2 24 O QUESTION 20 20. Given that the U.S. government mandates the use of ethanol as a partial substitute for gasoline, and that ethanol manufactured in the U.S. is made from corn, what will happen if scientists develop a new highly efficient method of storing electrical energy? O a) Demand for ethanol will increase b) Demand for ethanol will decrease c) Supply of ethanol will increase d) Supply of ethanol will decrease e) None of the abovearrow_forwardPrice $12 $10 $8 $6 $4 $2 Table 3 D1 LO 5 8 11 13 16 18 D2 O a 15 unit surplus will result.. O a 10 unit shortage will result. O a 15 unit shortage will result. O a 10 unit surplus will result. 9 12 15 18 21 24 S₁ 19 17 15 13 11 9 S2 14 12 10 8 6 4 Suppose that D2 and S2 are the demand and supply schedules for Product A. If the government imposes a price ceiling of $4, then:arrow_forwardQuestion 29 500 $3.76 $3.40 $3.30 $3 00 10 12 14 16 18 20 Suppose that a tax of $0.45 is imposed on this market, what will be the new price suppliers receive? O a. 3.75 O b.3.00 OC. 3.30 O d.3.40arrow_forward
- #9arrow_forwardSuppose the equation for the demand curve in a market is P=100 – 2Q. Also, suppose the equation for the supply curve in the same market is P=10+3Q. Suppose there is an external cost of $20 associated with the production of each unit of the good. The socially optimal quantity is O 4 units smaller than the market equilibrium quantity. O 22 units greater than the market equilibrium quantity O 14 units smaller than the market equilibrium quantity O 4 units greater than the market equilibrium quantity.arrow_forward5.arrow_forward
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