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Paying for a WiFi Network. Consider a small town with 1,000 households. The town could install a wireless WiFi network that would give everyone in town access to the Internet. Each household is willing to pay a maximum of $50 per year for the network, and the cost of the system is $20,000 per year. (Related to Application 1 on page 647.)
a. Is the WiFi system efficient?
b. Suppose the town asks for voluntary contributions to support the network. Would you expect the total contributions to cover the $20,000 cost?
c. Suppose the town keeps track of the contributions and issues passwords to people who contributed at least $20. Would you expect the total contributions to cover the $20,000 cost? 30.
Declare a class named Cuboids with its three data members of type float to have the measurements of the three dimensions - Write all the set functions for each data member to set their values.
Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. Note that output is measured as the number of bottles of vitamins produced per day and that costs include ..
A tariff increases consumer surplus, decreases producer surplus, increases revenue to the government, and increases total surplus.
Consider two possible designs for a product which are sold for $0.70 each. There are only two differences in the production of both designs: operation 1 and operation 2. The first product, A, requires 16 hours of operation 1 and 4.5 hours of opera..
the worker doing the mathematical operation by hand in 32 seconds, and with the computer application, the operation is doing in 16 seconds with a 50 % of improvement. (theoretic - experimental)/theoretical *100% is the used formula for the 50%
Assume that a person's utility function is U(x,y)=x^2y^2 (yielding MRS=y/x) The price of X is $2 and the price of y is $5. Income is $100. What is the optimal choice? If a quantity tax of $0.50 is placed on good x, what is the new optimal choice
Suppose that you are interested in estimating the ceteris paribus relationship between y and x1. For this purpose you also collect data on two control variables, x2 and x3. Let β˜ be the simple regression estimate from y on x1 and let βˆ be the multi..
What would be the profit of a new entrant if the subsidy is eliminated and Barnacle continues to produce the monopoly level of output?
Assuming that all firefighters must be at least 67 inches tall, how does this height restriction affect the wage the city must pay to attract five firefighters, and how does the restriction affect the gender composition of employment
The predetermined overhead rate is based on machine hours. The expected machine hour use for the year is 2.112 hours, and the anticipated overhead costs are $840,576 for the year. The machine were used by workers on projects K52 and J57 on Decembe..
1)The operations manager for a local bus company wants to decide whether he should purchase a new small, medium, or large bus for his company.
jeff has 4 hours that he can choose to spend either studying for a test or playing a new video game. If he spends all of time studying, he can score a 92 on the test. If he plays for 1 hour, his test score falls 5 points.
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