In the table below, fill in the numeric answers in the "Willingness to Pay" (WTP) blanks...
In the table below, fill in the numeric answers in the "Willingness to Pay" (WTP) blanks where indicated. WTPx, WTPy, WTPz represent three different individual's "willingness to pay".
|
Q |
MC |
WTPx |
WTPy |
WTPz |
Collective WTP |
|
1 |
29 |
25 |
12 |
20 |
? |
|
2 |
36 |
17 |
? |
12 |
35 |
|
3 |
38 |
? |
4 |
9 |
28 |
|
4 |
40 |
13 |
2 |
? |
22 |
|
5 |
44 |
12 |
1 |
6 |
? |
What is the optimal quantity of the public good that should be provided? Options: 12345
Homework Answers
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In the table below, fill in the numeric answers in the
"Willingness to Pay" (WTP) blanks...
Look at the two tables below, which show, respectively, the willingness to pay and willingness to...
Look at the two tables below, which show, respectively, the
willingness to pay and willingness to accept of buyers and sellers
of bags of oranges. For the following questions, assume that the
equilibrium price and quantity will depend on the indicated changes
in supply and demand. Assume that the only market participants are
those listed by name in the two tables.
equilibrium price and quantity will depend on the Indicated changes in supply and demand. Assume that the only market...
1. Below is the marginal willingness to pay of a consumer for organic apples. 2.00 1.20...
1. Below is the marginal willingness to pay of a consumer for organic apples. 2.00 1.20 1.00 0.80 0.50 0.30 What is the individual's total willingness to pay at a consumption level of 4 apples? a. 2. The market demand for a commodity is made up by two consumers, Ants and Birgit. Their individual demand schedules are depicted in the table. Fill in the empty column and draw the demand schedule. Price Quantity demanded Quantity demanded Market demand in euro...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of individual bags of oranges. For the following questions, assume that the equilibrium price and quantity will depend on the indicated changes in supply and demand. Assume that the only market participants are those listed by name in the two tables. Person Price Willing To Pay Actual Equilibrium Price Person Minimum Acceptable Price $5 $15 $10 Bob Barb Carlos Courtney...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of individual bags of oranges. For the following questions, assume that the equilibrium price and quantity will depend on the indicated changes in supply and demand. Assume that the only market participants are those listed by name in the two tables. Person: Max price person willing to pay Actual Price bob $13 $8 barb 12 8 bill 11 8 bart...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of individual bags of oranges.
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of individual bags of oranges. For the following questions, assume that the equilibrium price and quantity will depend on the indicated changes in supply and demand. Assume that the only market participants are those listed by name in the two tables. a. Given the equilibrium price of S10, what is the equilibrium quantity given the data above? b. What if, instead of...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of individual bags of oranges. For the following questions, assume that the equilibrium price and quantity will depend on the indicated changes in supply and demand. Assume that the only market participants are those listed by name in the two tables Minimum Maximum Actual Equilibrium Acceptable Price Person Price Willing To Pay $21 16 Person Price $10 10 10 10...
1. Suppose that Adam's willingness To Pay (WTP) for a shirt of a particular brand is...
1. Suppose that Adam's willingness To Pay (WTP) for a shirt of a particular brand is equal to 525. The market price of the brand is initially = $35 (thus, Adam's "consumer's surplus" SO, since he won't buy the shirt at that price). But then the brand becomes less popular (although Adam's WTP still equals 5 25; note that the Demand Curve will shift to the left when the brand becomes less popular). a.) Use a relevant graph to show...
can someone take a look to these 3 pictures and fill in the blanks. I need...
can someone take a look to these 3 pictures and fill
in the blanks. I need to show work and understand the answers.
thank you!
Birth to 36 months: Girls Head circumference-for-age and Welght-for-length percentiles NAME RECORD # Birth 3 69 12 15 18 21 24 27 30 33 36 AGE (MONTHS cm in ina cm 52 19--48 46 46-18 42 50 22 48 15--38 2044 19--42 18-40 38 36 34 -32 13 16 13 28 E 11 24 H...
The table below gives Robbie's willingness to pay (utility) for various hours of on-line computer access...
The table below gives Robbie's willingness to pay (utility) for various hours of on-line computer access per week. Suppose that Robbie's marginal utility is measured in SUS. On-line time is priced at $12 per hour. Number of Hours Total Utility (S) 1 20 2 38 3 54 4 68 80 90 6 7 98 8 104 a. Compute the marginal utility for each hour b. b. How many hours of on-line service will Robbie purchase? c. Compute Robbie's consumer surplus...
a. On the basis of the three individual demand schedules below, and assuming these three determine the collect...
a. On the basis of the three individual demand schedules below, and assuming these three determine the collective demand schedule on the assumption that the good is a public good. Instructions: Enter your answers as whole numbers Individual #1 Price Qd Individual #2 Price Individual #3 Price Demand Public Good Price Qd PO $8 -NM LINNNIIT II TIT b. Use the public demand schedule above and the following supply schedule to ascertain the optimal quantity of this public good. Quantity...
Look at the two tables below, which show, respectively, the
willingness to pay and willingness to accept of buyers and sellers
of bags of oranges. For the following questions, assume that the
equilibrium price and quantity will depend on the indicated changes
in supply and demand. Assume that the only market participants are
those listed by name in the two tables.
equilibrium price and quantity will depend on the Indicated changes in supply and demand. Assume that the only market...
1. Below is the marginal willingness to pay of a consumer for organic apples. 2.00 1.20 1.00 0.80 0.50 0.30 What is the individual's total willingness to pay at a consumption level of 4 apples? a. 2. The market demand for a commodity is made up by two consumers, Ants and Birgit. Their individual demand schedules are depicted in the table. Fill in the empty column and draw the demand schedule. Price Quantity demanded Quantity demanded Market demand in euro...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of individual bags of oranges. For the following questions, assume that the equilibrium price and quantity will depend on the indicated changes in supply and demand. Assume that the only market participants are those listed by name in the two tables. Person Price Willing To Pay Actual Equilibrium Price Person Minimum Acceptable Price $5 $15 $10 Bob Barb Carlos Courtney...
Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of individual bags of oranges. For the following questions, assume that the equilibrium price and quantity will depend on the indicated changes in supply and demand. Assume that the only market participants are those listed by name in the two tables Minimum Maximum Actual Equilibrium Acceptable Price Person Price Willing To Pay $21 16 Person Price $10 10 10 10...
1. Suppose that Adam's willingness To Pay (WTP) for a shirt of a particular brand is equal to 525. The market price of the brand is initially = $35 (thus, Adam's "consumer's surplus" SO, since he won't buy the shirt at that price). But then the brand becomes less popular (although Adam's WTP still equals 5 25; note that the Demand Curve will shift to the left when the brand becomes less popular). a.) Use a relevant graph to show...
can someone take a look to these 3 pictures and fill
in the blanks. I need to show work and understand the answers.
thank you!
Birth to 36 months: Girls Head circumference-for-age and Welght-for-length percentiles NAME RECORD # Birth 3 69 12 15 18 21 24 27 30 33 36 AGE (MONTHS cm in ina cm 52 19--48 46 46-18 42 50 22 48 15--38 2044 19--42 18-40 38 36 34 -32 13 16 13 28 E 11 24 H...
The table below gives Robbie's willingness to pay (utility) for various hours of on-line computer access per week. Suppose that Robbie's marginal utility is measured in SUS. On-line time is priced at $12 per hour. Number of Hours Total Utility (S) 1 20 2 38 3 54 4 68 80 90 6 7 98 8 104 a. Compute the marginal utility for each hour b. b. How many hours of on-line service will Robbie purchase? c. Compute Robbie's consumer surplus...
a. On the basis of the three individual demand schedules below, and assuming these three determine the collective demand schedule on the assumption that the good is a public good. Instructions: Enter your answers as whole numbers Individual #1 Price Qd Individual #2 Price Individual #3 Price Demand Public Good Price Qd PO $8 -NM LINNNIIT II TIT b. Use the public demand schedule above and the following supply schedule to ascertain the optimal quantity of this public good. Quantity...
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