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Question - A collectivity consists of three persons, A, B, C. Demand for some collectively provided service, x, being for person A, P = 40/x; for person B, P = 20/x; and for person C, p = 10/x. The marginal cost is 10.
(i) What is the SMB (social marginal benefit) function/curve for this community?
(ii) What would be the socially efficient level of x according to the Benefit principle or Samuelson condition?
(iii) What would be the level of x according to majority rule with equal head tax?
(iv) Did the majority rule in democracy produces efficient amount of public good?
Outline covering the initial preparation for the Presentation.Consumer Traits and Behavior Include a thesis, major topics, and subpoints.
Such "market failures" provide a justification for private conservation efforts and public land use planning and regulation. What does the author mean by market failures and inefficient land allocation? Explain why the author describes inefficient..
Anayze why equilibrium of supply and demand is desirable. Explain the following concepts using the concept of consumer and producer surplus.
your mathematics and economics professors have decide to give tests 2 day from For each addition 3 hours study time for one of the subjects, your grade will increase one letter for that subject.
In 1,250 to 1,500 words (5-6 pages excluding the title and references pages) compare and contrast the traditional banking model to either "Shadow Banking" or "Social Banking".
What is a product or service that Chevron offers? Create a graph representing the current market it. Use the current market price of one of their products for the Ep and Eq. Name all elements in the graph including, but not limiting to: supply, deman..
Find the optimal consumption levels for the agent and Find the optimal saving levels for the agent
A firm manufactures two goods A and B which require the two inputs K and L in the following amounts.
the global business environment has intensified pressure for companies to utilize their resources in new ways. one
Identify and briefly describe four trends in the macro/market environment that will have recently had an influence on the selected industry.
course description a development of value and distribution theories. detailed analysis of the reactions of consuming
The 2014 Index of Economic Freedom tracks the level of economic freedom in 186 countries. Economic freedom means that individuals are free to work, produce, consume, and invest in any way they please
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