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A small town mayor has two proposals for building a road. The first is to let a private company build the road, and the second is for the local government to make it. The fixed cost of the road is $2 million, while its maintenance cost is 0. The mayor knows that the road's demand looks like this:
Price per vehicle ($) Traffic (000s)
8 0
7 100
6 200
5 300
4 400
3 500
2 600
1 700
0 800
a. Should the company or the local government be awarded the contract for the road? Show your working, including the P, Q, and profit in each case.
b. When the mayor announces the winner of the contract, a journalist immediately questions her decision to build the road in the first place. As economic assistant to the mayor, you calculate the benefit from building the road to silence the journalist. What is the benefit/loss to society of building the road?
A $1000 face value bond has a 6.85 percent semi-annual coupon and sells dor $980.00. What is the current yield? A 7 percent coupon bond has a face value of $1000 and pays interest annually. The current yield is 6.8 percent. What is the current price ..
Miller and Coors who together produce 85% of all beer consumed in the US, each spend well over $250 million a year on television advertising campaigns, promoting their beer brands.
At the 5% significance level, does the proportion of Supporting the policy differ from that of women? Alternative hypothesis
Each term, Dana, a student at Cabrini Community College has a budget of $4,000 she can spend on college credits and drama classes. Each college credit costs $200, while a drama class costs $100. In your graph, add an indifference curve to illustrate ..
The Medicare Access and CHIP Reauthorization Act (MACRA) of 2015, is another layer of federal legislation enacted to govern clinician payment process. MACRA is intended to promote value, outcomes and quality. Review the provided resources as it r..
How do you expect the possible impacts of high-speed railway construction between Houston and Dallas on the Texas economy?
Brad will graduate next year. When he begins working, he plans to deposit $3,000 at the end of each year into an IRA account. If the retirement account pays 4% interest, how much will be in his account after 40 deposits? ( Please show work step by st..
Firms 1 and 2 produce differentiated products at no cost. Demands are given by Q d 1 (p1, p2) = 1 − p1 + p2 3 and Q d 2 (p1, p2) = 1 + p1 3 − p2. Calculate the Bertrand equilibrium prices. Determine the symmetric prices (p1 = p2 = p ∗ ) that maximize..
1. What is the 127.0.0.1 IP address and the most static route used in a host computer? 2. What is the router command that is used to view the routes entered into the router's routing table and the router command that is used to configure a static ..
you are comparing a municipal bond and a US treasury bond as a possible investment for your corporation both bonds have the same maturity and both bonds are equally risky and equally liquid the treasury bonds yield 7% your corporations marginal incom..
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Draw the budget constraint for the individual with the composite good on the y-axis and food on the x-a..
What type of market structure is this? What factors could explain this structure?
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