User Account

All Pages

What is the socially optimal level

Assignment Help Basic Computer Science
Reference no: EM131960737

Suppose you are studying a community that has 10 individuals. Each individual has the utility function U(c, p) = c + ln(p).

a. Suppose each individual has an income of 30. P is a unique good because its a public good. This means that if I purchase police, my neighbors gets to consume whatever I purchase, and vice versa. How much c does each individual consume consume, and how p does everyone consume if the price of c is 2, and the price of p is 20?

b. What is the socially optimal level of P, based on the Samuelson condition?

c. How does your answer to part b, compare to a? What is a way we could get people to purchase more police?

Reference no: EM131960737

Questions Cloud

How much should the stock price change in dollars : Consider a firm that had been priced using a 11.00 percent growth rate and a 16.00 percent required rate. The firm recently paid a $1.70 dividend.
Economic damages for clients involved in personal injury : ASD Consulting, LLC currently enjoys a patent on software that estimates economic damages for clients involved in personal injury lawsuits.
States that ols estimates are blue : Markov theorem states that OLS estimates are BLUE. What word does each letter in the acronym BLUE stand for? Give an intuitive definition for each of these word
Explain the changes in eps : Calculate the EPS before and after the change in capital structure and indicate changes in EPS. (Round your answers to 3 decimal places.)
What is the socially optimal level : What is the socially optimal level of P, based on the Samuelson condition?
Checking account deposits in the banking system : Suppose you withdraw $500 from your checking account deposit and bury it in a jar in your back yard. If the required reserve ratio is 10 percent
What are necessary methods and ict project manager requires : Based on your experience, what are necessary techniques, skills, methods and ICT project manager requires in the IT profession?
Calculate the current yield over the next year : Consider a bond (same as previous question) with $1000 par value, 13 annual coupon payments remaining, coupon rate of 6.8 percent.
Find level of effort that maximizes agents expected utility : Find the level of effort that maximizes the agent's expected utility if the agent is paid a fixed payment, a, plus a share b of output.

Reviews

Write a Review

Basic Computer Science Questions & Answers

  Techniques to improve performance of cpu

Q.1 What are the three techniques to improve performance of CPU? Q.2 Describe how a cache memory is organized?

  Identify the uses of a scope document

Define scope and describe how it is affected by project complexity.

  Security program in an international organization

Analyze the objectives of an effective network security program in an international organization.

  Flowchart and desk check for an algorithm

Flowchart and desk check for an algorithm that will receive two integer items from a terminal operator, and display to the screen their sum, difference, product and quotient. Note that the quotient calculation (first integer divided by second integer..

  How many entries are there at 8th and final level of tree

If our 8 Queens algorithm tried every possible square on the board for placing each queen, how many entries are there at the 8th and final level of the full tree? What does our algorithm do to avoid having to explore so many possibilities?

  Compute the variation of the rod temperature with time

A long conducting rod of diameter D and electrical resistance per unit length is initially in thermal equilibrium with the ambient air and its surroundings. This equilibrium condition is disturbed when an electrical current I is passed through the..

  Provide concise explanations of the following concepts

Consider a fixed exchange rate system with N countries. Suppose the "center" country (the Nth country) enjoys an increase in income.

  Find a real-world letter

Find a real-world letter, memo, bulletin, pamphlet, or report online. Identify specific style problems. Evaluate the style and clarity of the document, and identify specific areas where revision would help readers. Support you answers with citatio..

  Network and data link layers

Given an example of broadcast usage in the network and data link layers. For each case, (1) name the protocol that utilizing the broadcast, (2) the reason why the broadcast rather that unicast is used, and (3) how the face that the corresponding p..

  Define a new checked exception class

The exception class should store details of the offending key(s). Make any further changes to the user interface class that are necessary to catch and report the exception.

  Find the mean and standard deviation of the scores

Consider the mean scores of random samples of 40 AP Statistics students. Describe the sampling model for these means (shape, center, and spread).

  How much faster will a 64-cpu system run than a 1-cpu system

If the bus is busy, the requesting CPU is put into a FIFO queue. How much faster will a 64-CPU system run than a 1-CPU system?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd