What is the socially optimal number of concerts

Assignment Help Econometrics

Reference no: EM13191813

The Santa Barbara Bowl (SBB) holds outdoor music events (M), earning $3 of revenue from each concert and with total costs of cM(M) = M2=8 for M concerts. Ursula is a writer who lives right next to the SBB and who sells her novels on the competitive market at the price of pN = 2. The music that Ursula overhears from the SBB distracts and it costs her cN(N;M) = N2=4+M to write N novels. What is the socially optimal number of concerts for the SBB to hold?

Reference no: EM13191813

Questions Cloud

How many grams of each of the two alloys should be : A chemist has two alloys, one of which is 5% gold and 20% lead and the other which is 30% gold and 40% lead. How many grams of each of the two alloys should be used to make an alloy that contains 34 g of gold and 104 g of lead?

What bundle of goods will maximize the utility : A consumer enjoys two goods, X and Y. The price of X is $5 and the price of Y is $10 and the consumer has $1500 to spend on these goods. The utility function of the consumer is U = Y √x ; thus MUx = 1/2 Y/ √x and MUy = √x . What bundle of goods wi..

What is the largest area you can enclose : If you have 248 feet of fencing and want to enclose a rectangular area up against a long, straight wall, what is the largest area you can enclose?

Find the profit in the fourth year of operation : Karla Harby Communications, a small company of science writers, found that its rate of profit (in thousands of dollars) after t years of operation is given by the function.

What is the socially optimal number of concerts : The Santa Barbara Bowl (SBB) holds outdoor music events (M), earning $3 of revenue from each concert and with total costs of cM(M) = M2=8 for M concerts. Ursula is a writer who lives right next to the SBB and who sells her novels on the competitiv..

Describe the impact pilgrimage routes had on romanes europe : Briefly describe the impact pilgrimage routes had on Romanesque Europe.

How many feet long should the guy wire be : A radio transmission tower is 574 feet tall. A guy wire is to be attached 6 feet from the top and is to make an angle of 25o with the ground. How many feet long should the guy wire be?

Describe the ongoing maintenance that will be required : Describe all the necessary equipment and explain the costs involved in the creation of the system and describe the ongoing maintenance that will be required

Find the size of a corner square : Find the size of a corner square that will produce an opened-top box with the largest possible volume.

User Account

All Pages