Macroeconomics, Microeconomics

Assignment Help:

Consider the following: The city council has just approved the construction of a water park in your town. You are responsible for studying the impact of the new water park on the local economy and surrounding community.
You know that the water park will increase the traffic flow in the streets around the water park. There are both businesses and neighborhoods adjacent to the increased traffic flow. The cost to the community is estimated to be $6 per person. What kind of externality is this? Why? Graph the market for water park business, labeling the demand curve, the social-value curve, the market equilibrium level of output, and the efficient level of output. What is the per-unit amount of the externality?

Related Discussions:- Macroeconomics

(Bcg) matrix, Analysis of business portfolio by using Boston Consultant Gro...

Analysis of business portfolio by using Boston Consultant Group (BCG) Matrix.

Growth rate, how to calculate growth rate in closed economy

how to calculate growth rate in closed economy

Williamson’s Model of Managerial Discretion , equilibrium output and prince...

equilibrium output and prince is determined in williamson model of managerial discretion ?

Price mechanism, use of diagram how the price mechanism operates to allocat...

use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.

Asymmetric information - insurance markets, Q. Asymmetric Information - Ins...

Q. Asymmetric Information - Insurance Markets? In the United States, health insurance is usually provided for employees through contracts between the insurance company and thei

Determine the action keep the price above market equilibrium, What actions ...

What actions could a government take in order to keep the price above market equilibrium? There are four basic possibilities here; 1) Minimum price;  2) A tax on the good

Economic efficiency, Economic Ef ficiency The effort to ma...

Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.

Indifference curve and budget line, How does the indifference curve and bud...

How does the indifference curve and budget line for a neutral good look like?

What is neoliberalism, Neoliberalism So much thinking about the proper ...

Neoliberalism So much thinking about the proper role of government in economic growth over the past 2 decades has tends to conclusions which are today known as neo-liberal. The

Derive the linear demand and supply, Suppose that the short-run world deman...

Suppose that the short-run world demand and supply elasticities for crude oil are -0.076 and 0.088, respectively. The current price per barrel is $30 and the short -run equilibrium

Write Your Message!

Captcha
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