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a. Demand Curves for Public Goods Adam and Eve live on two sides of the Garden of Eden, a small suburban development. After they move in, an old PCB dump is discovered in between their houses. If X total tons of PCB's are removed from the dump, the two have a true willingness to pay (WTP) to finance a clean-up equal to: ADAM's WTP = 10 - X and EVE's WTP = 6 - X
b. Draw one diagram illustrating the two individuals demand curves for clean-up, and the total demand for clean-up in the neighborhood. What is the total WTP for 3 tons of clean-up?
c. If cleaning up 2 tons were to cost $12, is their sufficient WTP in this small community to finance it? What are two potential reasons why a voluntary clean-up might nevertheless fail?
Our economy is currently in recession so let's discuss how discretionary Fiscal Policy can help the situation. Please explain why tax cuts may be needed now and why we see budget deficits going up during the recession. What is the 'Crowding Out' e..
Many states provide firms with an "investment tax credit" that effectively reduces the price of capital. In theory, these credits are designed to stimulate new investment and thus create jobs
Owners of Sizzling Foods can earn a 14% rate of return on that land it they leased it others as a parking lot and while the last nurse hired treated 1,000 extra patients in a year. If doctors make $40,000 a year, what do nurses make?
consider two neighboring countries islands called c and f. they each have 4 million labor hours available that they
Name any good or service which has a noticeable recent price change. Using concepts of supply and/or demand, what are some possible explanations for this change in price?
Few states in the U.S. permit citizens to openly carry handguns. People can save themselves in the case of robberies or harm by using these guns.
Felix Jones, a recent engineering graduate, expects a starting salary of $ 65,000 per year. His future employer has averaged 5% per year in salary increases for the last several years.
1. cinema theater has estimated the following demand functions for its moviesdaytime demand qd 400 - 50 pdnbsp
Imagine a local government is considering opening a public swimming pool in a residential neighborhood
Megatrust Bank had historically scrutinized loans very carefully and extended them only to persons whom they considered very creditworthy. They made relatively few loans. However, after the government provided guarantees to sub-prime loans
Suppose the income elasticity of demand for pre-recorded music compact disks is +6.0 and the income elasticity of demand for a cabinet maker's work is + 0.6.
imagine a large multinational firm producing consumer products which announces to cut 20000 thousand jobs close 100
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