Spillover cost

Assignment Help Microeconomics
Reference no: EM133313916

Question

Explain in words and "spillover cost" that occurs if people supply labor (S) but increase the spread of a Covid-type virus by going to work. That is, draw in your graph a curve that shows the additional social costs of people going to work and label MSC (representing the Marginal Social Costs of people going to work).

Reference no: EM133313916

Questions Cloud

Compare chisholms foundationalist account of justification : What distinguishes epistemic justification from moral or prudential justification?What is the generality problem and why is it a problem for Goldman's account
Correctly measuring rates of return : List and discuss the practical problem associated with correctly measuring rates of return.
What type of ethical distress maureen is experiencing : what do you think you should reasonably expect from your fellow teammates? Describe 3 specific examples that indicate you are the beneficiary of their respect
Describe the problem of climate change in economic terms : Describe the problem of climate change in economic terms.
Spillover cost : Explain in words and "spillover cost" that occurs if people supply labor (S) but increase the spread of a Covid-type virus by going to work.
Optimal selling price to maximize the profit of product : The unit cost of the product is $30. What should be the optimal selling price to maximize the profit of this product?
What are the universalist-relative elements involved in : What are the universalist-relative elements involved in the political tug-of-war of ideas between the Japanese who hunt whale as food and those environmentalist
Pharmaceutical industry is damaging for consumers : Using the extracts and your knowledge of economics, assess the view that the market structure of the pharmaceutical industry is damaging for consumers.
How does singer deal with this apparent paradox : How does Singer deal with this apparent paradox? Do you find his response to be adequate?Singer claims that affluent people are morally required to give large

Reviews

Write a Review

Microeconomics Questions & Answers

  What problems might a country experience as a result

An article in the Economist notes that after the end of the Bretton Woods system: "The Europeans did not like leaving their currencies to the whims of the markets." What does it mean for a country to leave its currency to the "whims of the markets..

  Determine the equilibrium market price

Determine the equilibrium level of output in the market and determine the equilibrium market price.

  Diminishing returns to a single factor of production

An increase in the price of an input leads to higher costs and therefore less profit at the original quantity produced; therefore, some firms will increase the quantity they produce in order to increase revenues.

  Construct a decision tree for these sequential decisions

Construct a decision tree for these sequential decisions, and choose a payoff structure where Nicolas has a dominant strategy to stay at his job even.

  What happen if b1 and b2 are perfectly positively correlated

You should be able to construct an example from this. The second example is even easier. What happens if B1 and B2 are perfectly positively correlated and B2 always exceeds B1?

  How much is the most pablo would be willing to pay to join

Pablo's utility function is U(x,y)=x+10y-y^2/2, where x is the number of x's he consumes per week and y is the number of y's he consumes per week.

  What should be considered as the cost of the energy

Jennifer contemplates installing certain new machines that will reduce the labor time required on certain operations. These will increase the connected load.

  Find and evaluate willingness to pay and consumer surplus

Question - Now find and evaluate the willingness to pay, consumer surplus, demand, producer surplus, cost and willingness to sell of your own example

  Determine the forecasted sales for 2004

The geometric mean growth rate of sales over this three-year period is calculated as 10.37 percent. Use the geometric mean growth rate.

  What will happen under flexible rates

What will happen under flexible rates if the intersection of the IS and LM curves is below (or to the right) of the BP curve? Why?

  Explain how demand-elasticity and total revenue are related

Explain this relationship using at least two examples that incorporates all three concepts and explain how Demand, Elasticity, and Total Revenue are all related to each other

  Find the maximum output for a budget

A consumer spends all her income of £120 on the two goods A and B. Good A costs £10 a unit and good B costs £15. What combination of A and B will she purchase.

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