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The next question differs in one important respect from the example in the text. In the example, the economy was endowed with units of public good which could be converted into a private good. In this question, the economy is endowed with private good which can be converted into a public good. How does this difference alter the equations that characterize the solutions?Consider an economy composed of two people, George and Harriet, who have the utility functions
Here, z is the quantity of public goods, and bG and bH are, respectively, George's and Harriet's consumption of bread. The economy is endowed with 120 loaves of bread, and 20 loaves of bread are needed to produce each unit of public good.
a) Find the Pareto optimal allocation in which George and Harriet have the same utility.
b) Suppose that 70 loaves of the economy's endowment are initially held by George, and that 50 loaves are initially held by Harriet. Find the allocation attained when the public good is funded through voluntary contributions.
Release your analyst's positive scenario for the technology's future profitability.
The information below is the number of daily emergency service calls made by the volunteer ambulance service of Walterboro, South Carolina, for the last 50 days. To explain, there were 22 days on which there were 2 emergency calls, and 9 days.
What is Shelly's marginal rate of substitution when L = 100 and she is on her budget line? (c) What is Shelly's reservation wage? (d) Find Shelly's optimal amount of consumption and leisure.
You are hired by the Fair Work Commission Australia as a consultant to examine issues relating to pay and performance. Your task is to provide a report detailing findings from the economic literature on the effectiveness of pay for performance initia..
Give an example of an EAM that could be used to audit accounts receivable transactions. How would it work, and what data would be important to collect?
In year 1, the quantity produced is Q1 and the price is P1. In year 2, the quantity produced is Q2 and the price is P1. In year 2, the quantity produced is Q1 and the price is P2. In year 3, the quantity produced is Q3
A $35 million private placement with a large pension fund. Issuance costs are $500,000, the bond has a 9.25% annual coupon, and the bond has a 20-year life. Which alternative has the lower cost (annual percentage yield)
The additional cost of hiring an additional unit of labor times the additional cost of producing each additional unit of output.
Suppose a random variable X has a discrete uniform distribution on the first m positive integers. Find the mean and the variance of X. What are the mean and the variance if X equals the outcome when rolling a fair six-sided die
A television station is considering the sale of promotional DVDs. I can have the DVDs produced by one of two suppliers. Supplier A will charge the station a set-up fee of $1,200.00 plus $2.00 for each DVDs; supplier B has no set-up fee and will ch..
a monopolist has marginal costs MC(Q)=2Q where Q is the total output (thus MC should be rewritten MC(q)=2(q1 + q2). The monopolis can sell the output on two seperate markets, which are protected from resale of goods.
The constant per unit price of M is $30; the constant per unit price of T is $20; and Bharat has $300 to spend on these activities. If the price of M rises to $35, what is the appropriate compensating variation.
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