Majority voting to determine amount of public good

Assignment Help Business Economics
Reference no: EM13852868

Are the following statements true or false?

a) “If the assumptions of the median voter model hold, then using majority voting to determine the amount of a public good purchased by a city will lead to either an efficient level of the public good being provided or an under-provision of the public good. It cannot lead to an over-provision of the public good.”

b) A prominent senator has calculated the total social benefit of the current amount of space exploration at $3 billion per year. The total social cost of space exploration is currently only $2 billion. The senator argues that there would be a net gain to society by increasing the amount of space exploration until total costs rise enough to equal total benefits. Is the senator correct?

Reference no: EM13852868

Questions Cloud

Consumption in order to increase her total utility : Tom consumes positive quantities of both jam and juice. the price of jam is 5 cents per unit and the price of juice is 10 cents per unit. Her marginal utility of jam is 10 and her marginal utility of juice is 55. Without changing her total expenditur..
Budget line and highest attainable indifference curve : Paula has set aside $60 monthly budget to attend plays and watch movies. She likes plays exactly three time as much as she likes movies. (Plays and movies are perfect substitutes with 1 to 3 ratio.) Draw her indifference curves. If plays tickets cost..
What is the optimal two-part price : Suppose that VerizonWireless has hired you as a consultant to determine what price it should set for calling services. Suppose that an individuals' inverse demand for wireless services in the greater Boston area is estimated to be P = 100 - 33Q and t..
Creating a measurable marketing and advertising strategy : In your simulation this week, one item that you will be working on is advertising to include ad copy design, and media placement and ad frequency.
Majority voting to determine amount of public good : “If the assumptions of the median voter model hold, then using majority voting to determine the amount of a public good purchased by a city will lead to either an efficient level of the public good being provided or an under-provision of the public g..
What is the shadow price in period zero : Consider the allocation of a delectable resource over two periods. There are Qbar=4 units of the stock available. The total benefits derived from using the resource are defined as TBt= 20qt- (1/2qt^2) and the total cost of extracting the resource is ..
What a certified industrial hygienist can earn certification : Explain why it is important to determine whether training can solve a safety problem. Why is it important to have a written procedure for sampling methods. List three examples of what a certified industrial hygienist can do to earn certification main..
The clayton act prohibits price discrimination : One reason firms in monopolistic competition can charge different prices is that their products are identical 2 similar   3 differentiated 4 guaranteed. The Clayton Act prohibits price discrimination. In monopolistic competition, there is no need for..
Critical components of the conceptual nursing model : Write a 750-word overview of the theoretical framework of your selected theorist. Include an analysis of the critical components of the conceptual nursing model and theory used in nursing

Reviews

Write a Review

Business Economics Questions & Answers

  Illustrate what was the real interest rate you paid

Imagine that you borrow $5,000 for one year and at the end of the year you repay the $5,000 plus $600 of interest. If the inflation rate was 4%, illustrate what was the real interest rate you paid.

  What are the characteristics of perfect competition

What are the characteristics of perfect competition? Why does this type of fast-food restaurant tend to display characteristics of perfect competition? Imagine you are running a firm with the characteristics of a perfectly competitive firm. Describe ..

  Consider a perfectly competitive industry with many firms

As we noted in class, most members of labor unions work in the public sector, industries that are regulated, or industries in which production is concentrated into a few firms. Consider a perfectly competitive industry with many firms that produce th..

  Disagreement over the amendments

The factory operation creates smoke that affects nearby homeowners, causing respiratory ailments and similar problems.

  How can you justify existence of government-granted monopoly

How can you justify existence of government-granted monopolies for such public utilities as local telephone service, natural gas.

  Limitations of the theoretical framework

Summarize in words the predictions and limitations of the theoretical framework developed for the first exam: that is the predictions for the effect of capital accumulation.

  How much would he be willing to pay for the quarry

A road building contractor has received a major highway construction contract that will require 50,000 m^3 of crushed stone each year for 5 years. The stone can be obtained from a quarry for $7.80/m^3. As an alternative, the contractor has decided to..

  What are the various formes of dispute resolution available

what are the various formes of dispute resolution available to your company? what are the advantages and the disadvantages of each for your company?

  Interest rate for casts and investment decisions

Your task is to use information about existing economic conditions to forecast U.S. and Canadian interest rates. The following information is available to you. Over the past six months, U.S. interest rate have declined, and Canadian interest rate hav..

  Research one contemporary case of trade restriction

Research one contemporary case of trade restriction, implemented by any nation. Research your topic, using at least 2 sources, and write a brief report (approximately 2 pages) on your findings.. Sources are documented properly. (MLA or APA style).

  When will they achieve that goal

In an effort to bring inflation down they had set interest rates at 5% in 2018. How should the federal reserve react if they desire to bring inflation down to 3%. When will they achieve that goal? (Hint: maintain plenty of decimal places.)

  Regression equation where dependent variable is death rate

A friend tells you that you should never be a patient in a teaching hospital because the death rate among patients in teaching hospitals is higher than in other hospitals. Write down a regression equation where the dependent variable is the death rat..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd