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Consider 3 neighbors (Ben, Jill and Lisa) deciding whether or not to have a streetlight inthe neighborhood. The light costs $600. They agree in advance that if the light is provided they would share the costs equally. Ben is willing to pay $150, Jill $175 and Lisa $450 for the light.
a) If the decision is made based on majority voting, what is the outcome?
b) Determine if each of Ben, Jill or Lisa is pivotal in the sense that her/his presence or absence will affect the (optimal) outcome.
c) Calculate the externality imposed by the presence or absence of each of them.
d) Calculate the Clarke tax to be imposed on each of them so that they willtruthfully reveal their willingness to pay.
What price and quantity will the monopolist produce at if marginal cost is a constant$4 ? Compute the dead weight loss from having the monopolist produce, rather than the perfect competitor
Write down 5 common bad postures and movements practiced during the manual material handling, discuss possible ergonomic issues/injuries due to poor posture and movement, and suggest possible solution for each cases.
We won't sell these products on both regions and you can't transport the product each other. find the equilibrium price,equilibrium quantity,shortage and surplus of goods on one by one.
robot x has a first cost of 84000 an annual maintenance and operation mampo cost of 31000 a 40000 salvage value and
If a soybean grower for who price exceeds average total cost for a wide range of output is currently producing where Average Total Cost is at a minimum.
Suppose that the domestic demand and supply for hats in a small open economy are given by-Where Q denotes quantity and P denotes price.
such as making charitable contributions or civic expenditures (MU). Can you set up the problem and derive the optimization conditions if the owner-manager wishes to obtain a specific level of utility at the lowest possible cost.
CSG had a policy of providing an annual "cost of living" increase for its assembly workers to maintain a constant annual cost of $25,000 per worker (1984 dollars). The production process requires one worker for every sixteen tons manufactured.
suppose that in 1984 the total output in a single-good economy was 10000 buckets of chicken and the price of each
Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year.
Think about 2000-2010. Identify trade policies of the time and discuss the following points in 2-3 paragraphs: What are the main goods and services the United States traded internationally?
Would you have a higher consumption standard of living by self-sufficiently producing all the goods you also your family want to consume or by employing your labor.
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