Homework Answers
Social MC is greater than Private MB post output of 50 unit and hence, additional output post 50 units are inefficient and the amount of damage would be the difference between the private MB and social MC curve and output level which in this case would be area under curve "abd"
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Support Question 49 1 pts $ per unit social MC d Private MC $24 $22 $20...
D Question 48 1 pts $ per unit social MC Private MC $50 $47 b ....
D Question 48 1 pts $ per unit social MC Private MC $50 $47 b . a $40 $25 e C $15 f private MB 0 # of units 10 20 Use the graph above. The amount of external damage done per unit produced is o $10 o $15 o $25 O $40 O $47 Next
1. Individual A and B have the following marginal benefits for private good X: MBA =...
1. Individual A and B have the following marginal benefits for private good X: MBA = 10 - XA MBg = 10 - XB While the cost of producing each unit is 2 dollarsyi.e., MC = 2). You are asked to: a. On a graph, find the market demand function for private good X (hint: make sure to label the angles, elbows, and corners as needed). b. Find the market equilibrium. e. Find consumer A quantity demanded, and consumer B...
i would really appreciate if any one could elobarote on question (d), i dont really understand...
i
would really appreciate if any one could elobarote on question (d),
i dont really understand how to find question (d). thanks
Questions 1. (100) In a market for dry cleaning services, the marginal benefits from using dry cleaning services are MBp = 100-Q, and the private marginal cost of producing those dry cleaning services is given by MCp = 10 + Q. Pollution created by the dry cleaning process creates external damages that are given by the equation MCext...
QUESTION 11 Use the figure below for the next three questions. S MC 5 2 D...
QUESTION 11 Use the figure below for the next three questions. S MC 5 2 D MB 0 2 5 6 Quantity (units per day) When production is 3 units with a price of $3, consumer surplus in the market illustrated in in the above figure equals area a area b area a b. area a + d QUESTION 12 When production is 3 units with a price of $3, producer surplus in this market equals area a +b. area...
Question 6 (1 point) The following equations represent the MWTP (demand) function and the private MC...
Question 6 (1 point) The following equations represent the MWTP (demand) function and the private MC functions in the market for some good where a negative externality (such as pollution) results in damages of $12 per unit of the good produced. MWTP 400 QD MPC 55+0.5QS The market equilibrium level of output will be equal to units. Question 7 (1 point) The following equations represent the MWTP function and the private MC function in the market for some good where...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16 D MR = AR ン/AVC 12 4 100 150 200 250 Quantity This diagram most likely represents what market structure? could represent all excent a perfect.competition AA itEN i 28 D MR = A 24 AVC 20 16 12 150 100 200 250 Quantity This diagram most likely represents what market structure? could represent all except a. perfect competition oligopoly monopolistic competition perfect competition...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve,...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...
Question 9 Figure 15-10 Price and cost per unit Po MC P, P2 P3 Demand MR...
Question 9 Figure 15-10 Price and cost per unit Po MC P, P2 P3 Demand MR Quantity Refer to Figure 15-10. The deadweight loss due to a monopoly is represented by the area GEH. FGE. O FQ1 Q2E. FHE. Question 10 Table 15-1 Quantity Demanded (units) Total Cost of Production (dollars) $530 Price per Unit 10 $85 540 80 75 11 550 12 560 13 70 65 575 14 595 15 60 625 16 55 A monopoly producer of foreign...
Problem Set 2. Market Failure: Externalities and Common Pool Resources EconS 326 1. Cigarette production requires...
Problem Set 2. Market Failure: Externalities and Common Pool Resources EconS 326 1. Cigarette production requires use of energy, water and other resources. When planting tobacco leaves, fertilizer is used that creates runoff and water pollution in waterways. Tobacco smoke pollutes indoor and outdoor environments and remains a pervasive and persistent source of toxicants long after the cigarette is extinguished. a. Is there too little, too much or the correct amount of cigarette produced or consumed from a socially optimal...
Question 9 1 pts Costs per unit (dollars per unit) o 20 40 60 80 Quantity...
Question 9 1 pts Costs per unit (dollars per unit) o 20 40 60 80 Quantity (units per day) In the figure above, when 40 units are produced the average fixed cost is $8 O $12 $20 ОО $4 Question 10 1 pts When marginal cost is greater than average total cost, O average total cost is falling. O average total cost is rising. O marginal cost must be falling. O average variable cost must be falling. Question 11 1...
D Question 48 1 pts $ per unit social MC Private MC $50 $47 b . a $40 $25 e C $15 f private MB 0 # of units 10 20 Use the graph above. The amount of external damage done per unit produced is o $10 o $15 o $25 O $40 O $47 Next
1. Individual A and B have the following marginal benefits for private good X: MBA = 10 - XA MBg = 10 - XB While the cost of producing each unit is 2 dollarsyi.e., MC = 2). You are asked to: a. On a graph, find the market demand function for private good X (hint: make sure to label the angles, elbows, and corners as needed). b. Find the market equilibrium. e. Find consumer A quantity demanded, and consumer B...
i
would really appreciate if any one could elobarote on question (d),
i dont really understand how to find question (d). thanks
Questions 1. (100) In a market for dry cleaning services, the marginal benefits from using dry cleaning services are MBp = 100-Q, and the private marginal cost of producing those dry cleaning services is given by MCp = 10 + Q. Pollution created by the dry cleaning process creates external damages that are given by the equation MCext...
QUESTION 11 Use the figure below for the next three questions. S MC 5 2 D MB 0 2 5 6 Quantity (units per day) When production is 3 units with a price of $3, consumer surplus in the market illustrated in in the above figure equals area a area b area a b. area a + d QUESTION 12 When production is 3 units with a price of $3, producer surplus in this market equals area a +b. area...
Question 6 (1 point) The following equations represent the MWTP (demand) function and the private MC functions in the market for some good where a negative externality (such as pollution) results in damages of $12 per unit of the good produced. MWTP 400 QD MPC 55+0.5QS The market equilibrium level of output will be equal to units. Question 7 (1 point) The following equations represent the MWTP function and the private MC function in the market for some good where...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16 D MR = AR ン/AVC 12 4 100 150 200 250 Quantity This diagram most likely represents what market structure? could represent all excent a perfect.competition AA itEN i 28 D MR = A 24 AVC 20 16 12 150 100 200 250 Quantity This diagram most likely represents what market structure? could represent all except a. perfect competition oligopoly monopolistic competition perfect competition...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...
Question 9 Figure 15-10 Price and cost per unit Po MC P, P2 P3 Demand MR Quantity Refer to Figure 15-10. The deadweight loss due to a monopoly is represented by the area GEH. FGE. O FQ1 Q2E. FHE. Question 10 Table 15-1 Quantity Demanded (units) Total Cost of Production (dollars) $530 Price per Unit 10 $85 540 80 75 11 550 12 560 13 70 65 575 14 595 15 60 625 16 55 A monopoly producer of foreign...
Problem Set 2. Market Failure: Externalities and Common Pool Resources EconS 326 1. Cigarette production requires use of energy, water and other resources. When planting tobacco leaves, fertilizer is used that creates runoff and water pollution in waterways. Tobacco smoke pollutes indoor and outdoor environments and remains a pervasive and persistent source of toxicants long after the cigarette is extinguished. a. Is there too little, too much or the correct amount of cigarette produced or consumed from a socially optimal...
Question 9 1 pts Costs per unit (dollars per unit) o 20 40 60 80 Quantity (units per day) In the figure above, when 40 units are produced the average fixed cost is $8 O $12 $20 ОО $4 Question 10 1 pts When marginal cost is greater than average total cost, O average total cost is falling. O average total cost is rising. O marginal cost must be falling. O average variable cost must be falling. Question 11 1...
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