Homework Answers
The optimum Quantity is the point where marginal cost is equal to the marginal benefits.
Requirement 1:
A private flu vaccination program would provide 200 shots a day. (because its Marginal cost is equal to Marginal benefits at a quantity of 200 shots a day)
Requirement 2:
If the marginal external benefit from a flu vaccination is equivalent to $15, the efficient number of shots in 300 a day. (Refer the table below for marginal cost and marginal benefit)
Revised Table (including external benefit):
| Quantity | Marginal Cost | Marginal Benefit |
| 0 | $ - | $ - |
| 100 | $ 20 | $ 50 |
| 200 | $ 30 | $ 45 |
| 300 | $ 40 | $ 40 |
| 400 | $ 50 | $ 35 |
| 500 | $ 60 | $ 30 |
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the table provides information about a flu vaccination program
What number of shots per day would...
This Question: 1 pt 38 of 60 (37 complete) This Test: 60 pts possib The table...
This Question: 1 pt 38 of 60 (37 complete) This Test: 60 pts possib The table provides information about a flu vaccination program. What number of shots per day would a private flu vaccination program provide?f the marginal external benefit from a flu vaccination is equivalent to $15, what is the efficient number of shots? Quantity (shots per day) Marginal cost Marginal benefit (dollars per shot) 100 200 300 400 500 20 30 40 50 60 35 30 25 20...
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2. The first two columns of the table show the demand schedule for electricity from a...
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The table below provides cost information for a firm. Use this information to answer the following...
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fill out the table question 16 The table below provides cost information for a firm. Use...
fill out the table
question 16
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As an economist, what advice would you give Manuel, the owner of the shop?
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This Question: 1 pt 38 of 60 (37 complete) This Test: 60 pts possib The table provides information about a flu vaccination program. What number of shots per day would a private flu vaccination program provide?f the marginal external benefit from a flu vaccination is equivalent to $15, what is the efficient number of shots? Quantity (shots per day) Marginal cost Marginal benefit (dollars per shot) 100 200 300 400 500 20 30 40 50 60 35 30 25 20...
Marginal benefit Marginal social The table below shows information about the costs and benefits of a steel smelter that pollutes the air of a city. The marginal external cost of this pollution is $10 per ton at every quantity of steel produced. Use this information to answer questions 33-35. Quantity of steel (millions of tons cost (dollars per per week) (dollars per ton) 5 40 20 10 35 25 15 30 30 20 25 35 25 20 40 - ton)...
2. The first two columns of the table show the demand schedule for electricity from a coal-burning power station; the second and third columns show the power station's cost of producing electricity. The marginal cost of pollution created is equal to 6 cents per kilowatt th a) With no pollution control, what is the quantity of electricity produced, the price of electricity and the marginal extermal cost of the pollution generated? (5 marks) b) Suppose that the government levie ollution...
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of Workers Chairs Produced per Hour 2 3 18 24 28 30 What is the "Value of the Marginal Product" (VMP) for the third worker?
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fill out the table
question 16
The table below provides cost information for a firm. Use this information to answer the following 3 questions. Quantity MC FC VC 0.5 10 20 30 2 40 13. Is this firm operating in the short run or the long run, and how do you know? a. The firm is operating in the short run because there are fixed costs. b. The firm is operating in the long run because both fixed and variable...
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