Refer to the figure below. At the private market equilibrium quantity, the social marginal cost of the last unit produced is Price ($/unit) ΟΟΟ equal to greater than less than G H Quantity (units/day) Social MC Private MC less important than Demand the marginal benefit of the last unit produced.
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- What is the efficient outcome in this market? Equivalently, which types of bikes should changetheir owners to maximise the social welfare?Explain the causes of food shortages that lead tostarvation.ASAP plz Why don't people/stores make different decisions? Cost is a factor: a case of foam take-out containers costs $25, compared with $58 for paper and recyclable-plastics. How does this affect the firm's profit? Are consumers willing to pay more? Negative externality Consider the demand and supply given above. Suppose there is an external cost given by MEC=5Q. Find social equilibrium price and quantity. Draw a graph and label both private and social equilibrium.
- Table 1Buyer Willingness To PayLori $50.00Audrey $30.00Zach $20.00Calvin $10.002. Refer to Table 1. If the price of the product is $15, then who would be willing to purchase theproduct?a. Lorib. Lori and Audreyc. Lori, Audrey, and Zachd. Lori, Audrey, Zach, and Calvin3. Refer to Table 1. If price of the product is $30, then the total consumer surplus isa. $-10.b. $-6.c. $20.d. $30.A computer store sells WP and SS. Given below are themaximum amounts two consumers will pay for these goods and for a bundle that contains bothgoods. WP SS Bundle carolina $100 $90 $190 shawn $90 $40 $130 (a) What is the firm’s revenue if it sells the WP at a price of $90 and the SSat a price of $90? The goods are only available individually and not as a bundle. Please showyour calculations.(b) Will the firm charge $130 or $190 for the bundle if it wants to earn maximum revenue?Assume that the goods are only sold as a bundle and not available separately. Please explain.(c) Will selling individually or selling a bundle result in higher revenues?I live next door to an insomniac who plays jazz music every weekendlate at night. It is loud enough to keep me awake, but not loudenough to exceed the legal limit on noise pollution. Using Coasianbargaining I couldSelect one:a. Invest in soundproofing out of my own pocketb. Pay my neighbour not to play music at such timesc. Ask my neighbour to pay me to stay elsewhere at theweekendsd. Seek legal redress Please tell me which awnser is correct for this question thank you
- Graph the following data on social and market demand: Im pretty sure I have the graph correct but I am unsure how to find the anwsers to the questions. Price ($) 20 18 16 14 12 10 Market quantity demanded (units per month) 10 20 30 40 50 60 Social quantity demanded (units per month) 20 30 40 50 60 70 Does this product have external benefits or external costs? How large ($) is that externalityD. What is Total Cost E. What is profit F. What is Socially optimum outputThe following graph shows the supply curve for a group of students looking to sell used graphing calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used calculator. 300 250 Rosa 200 Area: 200 Nick 150 Latasha A O 100 Jake Frances 50 Dmitri 2 3 6 QUANTITY (Used calculators) PRICE (Dollars per used calculator) B.
- O Macmillan Learning Specialized electronic batteries, such as those for laptops, are hard to dispose of safely, yielding excess pollution when one gets thrown away. Suppose that producing these batteries creates a social cost of approximately $150 per battery. Please shift the appropriate curve or curves to reflect this social cost. The new price is about $ The new quantity is Ithousand. Price (S) 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 Supply Demand 0 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 Quantity of Laptops (thousands)3. The figure shows supply and demand for planting trees, based on private costs and private value. Trees sequester carbon, meaning that they help counteract pollutants that contribute to climate change. Supply is given by P=(1/5)Q+4. Price of trees ($) 16 vlleiona sdi toode grind of gaitneleon oxibiadua Insamovog od bluoria doum woll > (laval lernitqo siooz - love pioiflo aniH) Sninaly sou to level insioifto Quantity of trees 80 Vanui D=PV=SV a. Suppose that the carbon sequestration that results from planting a tree is worth $4. Graph the social cost curve for tree planting that accounts for the positive externality indo of trees. O noitesubs sgo lovel yus 101 aftened steving sdh besoxs noitesubs 02/20 exibiadure of me 1944an2be agellos to innome insisifie yllisimmanoce sil oiterubo ogollos to calv b. Ignoring the positive externality, how many trees will be planted? ubaPrice $240 $220 $200 $180 $160 $140 $120 $100 $80 $60 $40 $20 0 S-MCMC Quantity of pediatrician visits Dudy-110 D$30 M Tools OWL OWL © a. Assume that the correct level of subsidy is $60. The socially optimal level of pediatrician visits is: 350 visits b. Compared to the efficient outcome, graph the deadweight loss that would result from subsidies of $30 or $90. Instructions: Use the tools provided "DWL 30' and 'DWLgo' to illustrate the deadweight loss for each subsidy. Drag the points to move or resize.