User Account

All Pages

What is the socially optimal level of the public good

Assignment Help Business Economics
Reference no: EM133131478

Suppose there are two people who have the following valuations of level y of a public good v12122 (y) = 222√y and v(y) = 210√y. So they have marginal benefits of MB = 111/√y and MB = 105/√y. The cost of providing the public good is given by c(y) = 4y and the marginal cost is 8y. What is the socially optimal level of the public good?

Reference no: EM133131478

Questions Cloud

Communiations-individual or collective learning style : Do you think you have an individual or collective learning style? What do these preferences say about your culture?
How much cash will be freed up : Williams & Sons last year reported sales of $49 million, cost of goods sold (COGS) of $40 million, How much cash will be freed up
Some developmental theorists contend that nutrition deficit : Some developmental theorists contend that nutrition deficit is a link to criminal behavior. Do you agree or disagree? Defend your answer.
What are three primary forms of legal business organization : Question - What are the three primary forms of legal business organization? What are some of the advantages and disadvantages of each form
What is the socially optimal level of the public good : Suppose there are two people who have the following valuations of level y of a public good v12122 (y) = 222vy and v(y) = 210vy. So they have marginal benefits o
Right and left wing political groups : We have discussed the vast differences between both right- and left-wing political groups.
Some of your civil rights in order to aid war on terror : Would you be willing to give up some of your civil rights in order to aid the war on terror? Defend your stance for why you would and why you would not.
How much of the martins have to pay : If Martins and Mateusz allocate the cost of the Prowler using the standalone method, how much of the $750 would Martins have to pay
Male prisons versus female prisons : Discuss how the three main issues between male prisons versus female prisons is both fair and unfair for inmates and their families?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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