What is the optimal quantity of the public good

Assignment Help Business Economics
Reference no: EM133126257

In the table below, fill in the numeric answers in the "Willingness to Pay"  (WTP) blanks where indicated. WTPx, WTPy, WTPz  represent three different individual's "willingness to pay".

Q

MC

WTPx

WTPy

WTPz

Collective WTP

1

28

24

15

17

 

2

35

16

 

9

34

3

37

 

7

6

27

4

39

12

5

 

21

5

43

11

4

3

 

What is the optimal quantity of the public good that should be provided? 

Reference no: EM133126257

Questions Cloud

What is the strategic manner : What is the strategic manner in which the United States can apply best economic best practices from other countries in addressing these issues? What is the like
What is the firm short-run marginal cost : A firm currently produces 3,500 units of output per week. After an additional worker is hired, output rises to 3,750 units per week. If the weekly wage paid to
Determine the arch price in 2019 : 1. In 2019, Arch Manufacturing sold 12.500 widgets and their revenues were $350,000. In 2020, Arch sold 12,000 widgets after raising their price 5%.
Financial protection against a possible risk : The purpose of insurance is to provide you with financial protection against a possible risk. In Bummer!, risk is generated by the Wheel of Bummers.
What is the optimal quantity of the public good : In the table below, fill in the numeric answers in the "Willingness to Pay" (WTP) blanks where indicated. WTPx, WTPy, WTPz represent three different individua
Various types of economic evaluations : "Costing is the basis upon which various types of economic evaluations are built."
What does game theory suggest : Two cyclists in a bicycle race have the strength to pull away from all the other cyclists in the pack. They can decide either to pull away unilaterally or to pu
Risk management in financial institutions : Explain the various associated risk and risk Management in Financial Institutions and Evaluate the performance of Financial Institutions currently working
How did the sultan use janissaries as a show of power : How did the Sultan use Janissaries as a show of power?

Reviews

Write a Review

Business Economics Questions & Answers

  Kydland-prescott i barro-gordon perspective

According to the Kydland-Prescott I Barro-Gordon perspective, why does the inflation rate rise with a shift from a rules-based to a discretionary policy regime?

  Age-old debate between free-traders and protectionists

To what extent are deadweight losses relevant when deciding which side to take in the age-old debate between free-traders and protectionists?

  Differences in elasticity of demand or seller market power

A firm's efforts to increase profit by price discrimination can be undermined by arbitrage by buyers, consumer ignorance, differences in elasticity of demand, or seller market power?

  Opportunity cost of attending the two-year graduate program

Zack quits his job at a consulting firm, which pays $40,000 a year, to enroll in a two-year graduate program. His annual school expenses are $30,000 for tuition, $2,000 for books, and $600 for food. What is his opportunity cost of attending the two-y..

  Patent harms the benefits of consumers

Tamiflu, produced by Roche, has so far been the most effective medicine to tackle bird flu. Roche was granted a patent on the drug which enables the pharmaceutical firm to charge higher prices and earn higher profits. Monopoly is inefficient as it ch..

  Measure economic growth for a country

Define economic growth. What information is needed in order to calculate/measure economic growth for a given country?

  Consider different insurance company

Now consider a different insurance company that does not have the inclination to tailor contracts specifically to individuals. Instead, it will offer a “standard contract” with the premium r= $100 and payout q=$500 to anyone who will purchase it.

  Consider to be the biggest current market failure

What do you consider to be the biggest current market failure in the U.S. economy? Why? How should the failure be addressed?

  Represent an example of perfect competition

In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition, monopolistic competition, collusive oligopoly.

  True in the short run equilibrium

There are one hundred jobs and one hundred workers in a competitive job market. All the workers are equally productive. All employers dislike female workers but vary by the degree of their dislike. Job one's employer dislikes females by $100 a week. ..

  Economy in steady state with population growth rate

Consider an economy in a steady state with population growth rate n, a rate of capital depreciation Delta, and a rate of technological progress g(growth rate of y* in steady state). At the steady state change in k tilda = 0, where k tilda equals capi..

  Possible stock prices at the maturity date

Under a binomial option pricing model, the current stock price of a put is at RM4 in which we expect the price can either go up by 5% percent or down by 3 perce

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