User Account

All Pages

What is the efficient amount of air quality

Assignment Help Microeconomics
Reference no: EM132133663

Question: Consider an air basin with only two consumer, Huck and Matilda. Suppose Huck's demand for air quality is given by q_h=1-p where p is Huck's marginal willingness to pay for air quality. Similarly, Matilda's demand is given by q_m=2-2p. Air quality can be supplied according to q = p where p is the marginal cost of supply.

a) Graph the aggregate demand for air quality along with individual demands.

b) What is the efficient amount of air quality?

Reference no: EM132133663

Questions Cloud

It tools to implement knowledge management system : How organization use IT tools to implement the Knowledge Management system.
Motivations for becoming leader and getting your doctorate : Moving forward in this program, you will continually need to monitor your motivations for becoming a leader and getting your doctorate.
What is the decision facing burger king : What is the decision facing Burger king? What factors are important in understanding this decision situation? What are the alternatives?
Does the covered interest parity condition hold : There are conflicting answers to this online. Please, only respond if you are certain of your answers, and can explain. Don't just paste what is already.
What is the efficient amount of air quality : Consider an air basin with only two consumer, Huck and Matilda. Suppose Huck's demand for air quality is given by q_h=1-p where p is Huck's marginal.
Using decision trees analysis and EMV : Regardless of whether they make or buy the part, JDI will need 150,000 of these parts. Using decision trees analysis and EMV, what should JDI do?
Find a nash equilibrium from the table : Consider a bottled water market in which only two firms are operating: Canyon Water and Lake Water. Assume zero cost to produce bottled water.
What changes in culture are needed at the plaza inn : What structural change is indicated at the Plaza Inn? What changes in culture are needed at the Plaza Inn?
What is the level of consumption : Derive the expression for the AD curve. What is its vertical intercept? What is its slope? To answer the following parts, assume inflation is p = 1.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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