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Assume your city government has been contracting with a single garbage collection firm that has been granted an exclusive franchise, the sole right, to pick up trash within the entire city limits. However, it has been proposed that companies be allowed to compete for business with residents on an individual basis. The city government has estimated the price residents are willing to pay for various numbers of garbage collections per month and the total costs facing the garbage collector per resident as shown in the following table.
a. What are the fixed costs per month of garbage collection per resident?
b. Considering that the current garbage collection firm the city has contracted with has a monopoly in garbage collection services, what is the current number of collections residents receive per month and the price charged residents for each collection? What is the economic profit received from each resident by the monopoly firm?
c. If competitive bidding were allowed and therefore a competitive market for garbage collection services developed, what would be the number of collections per month and the price charged residents per collection? What is the economic profit received from each resident by the competitive firms?
d. Based on the above analysis, should the city government allow competitive bidding? Why? Would you expect there to be any quality differences between the monopolistic and competitive trash collection firms?
Participants were then asked to rate the degree to which they liked the taste of the juice. What statistical procedures are suitable for analyzing these data? What test would she use if she wanted a distribution-free test? (Note: She found the eff..
Show a consumers budget constraint and indifferance curves for wine and cheese. Show the optimal consumption choice. If the price of wine is 3$ per glass and the price of cheese is $6 per pound, what is the marginal rate of substitution at the opt..
A researcher is interested in estimating the salary of management majors. it is known that the population of salary offers is normally distributed with a standard deviation of 4(in thousands of dollars). the sample yields a sample mean of 50. 1. c..
Consider the group of x workers who are unemployed this month. After a month, what percentage of this group will still be unemployed? (Hint: If 47% of unemployed workers find jobs every month, what percentage of the original x unemployed workers d..
Assume that Mamma's produces frozen pizzas in a competitive market and it knows how to maximize profit. It's marginal and average total costs are shown in the curve to the right. a) Suppose that other pizza producers are selling their product at $5..
suppose the world price for a good is 40 and the domestic demand and supply cureves are given asdemand p80-2qsupply
What role do factor intensities of production play in the factor proportions theory of trade? If there were no differences in the factor intensities of the goods produced, how could that affect the predicted pattern of trade?
The utility estimates that by switching to gas, it will save $22,000 per year, starting 3 years from now. At an interest rate of 8% per year, determine the present worth in year 0 of the projected savings that will occur in years 3 to 10.
what must the Bank of Canada have set the money supply at (b) Taking that level of the money supply as fixed, suppose nowthat people expect the Bank of Canada to raise the money supply by11% over the next year, what will be the new price level tod..
Assuming that the company pays income tax a the 40 percent rate, prepare an income statement for Jackson Construction Company.
Make sure to select articles (300 words or more) that address all of the needed information below. Short articles will often not provide you with enough detail to write about.In addition, purely statistical releases of data are not wise selections..
Suppose a random variable X has a discrete uniform distribution on the first m positive integers. Find the mean and the variance of X. What are the mean and the variance if X equals the outcome when rolling a fair six-sided die
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