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Panther Hall is a college dorm with 100 residents who each have the identical demand function for a pleasant community room, given by the equation MB = 1000 – 9.95Q. The marginal cost of maintaining the community room is MC = 1500 + 5Q, where Q = square footage of the room. The community room is a public good because all dorm residents have open access to the room. The dorm council is considering two plans to maintain the community room: (a) ask residents to voluntarily contribute to the maintenance of the room and (b) add the cost of maintaining the room to the dorm fee for each resident. If the council approves plan a, how much of the community room (in square footage) will each dorm resident be willing to care for on their own? If the council approves plan b, determine the optimal size of the community room and the total amount that each resident pays to maintain the community room?
Compute a 99% confidence interval rather than a 90% confidence interval. The increase in confidence indicates that we have a better interval.
Suppose that the governmental authorities wished to decrease use of a pesticide that is leaching into groundwater supplies in a watershed by 60% from current use levels.
q.address the following questions1. what is the elasticity of the demand for cookbooks bought this way?2. is the
Elucidate what will happen to equilibrium cost and quantity of satellite TV service if wages of workers who provide satellite TV service increase while at same time cost of cable television service.
Explain how specifically does this information affect your desire to sign a two-year contract with Toy Yachts R Us.
how would these cities change their size? Assuming that the total population of 13 million cannot be changed, would there be a smaller and a larger city?
Theories about child rearing go back thousands of years, yet developmental psychology is only about a century old. How has psychology been impacted by the philosophical and religious theories of child rearing.
Briefly discuss what measuring inequality involves, and provide two examples for doing so. measuring income inequality means dividing up the population into various groups and then comparing the groups.
Calculate the coefficient of price elasticity (midpoints approach) for Goldsboro's supply. What was Diane's economic profit.
Which of the subsequent goods also services should be included in Fredonia GDP in 2009
Suppose a monopolist's demand is given by the function P=25-3Q. Let the total cost of production be 7Q+28 for positive levels of output, and zero otherwise. Illustrate what is the profit maximising output.
Benson manufacturing company is considering ordering electronic components from three different suppliers. The supplier may differ in terms of quality in that the percentage of defective components may differ among the suppliers. To evaluate the prop..
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