User Account

All Pages

What is the socially optimal level of p

Assignment Help Basic Computer Science
Reference no: EM131961838

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: EM131961838

Questions Cloud

Result of having additional competitors : What would be the likely result of having additional competitors in your industry in the long run?
Calculate innovative products net cash flows : The cash return on assets for the year is 25%. Calculate Innovative Products' net cash flows from operating activities (operating cash flows) for the year
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?
Describe how your capstone company dealt with public crisis : Describe how your Capstone company dealt with a public crisis using the steps outlined above. Always focus on the facts when responding to questions.
What is the socially optimal level of p : What is the socially optimal level of P, based on the Samuelson condition?
Illustrates understanding of social problems : Write a seven-page critical essay paper that illustrates their understanding of social problems from a sociological perspective and how they are interrelated.
What was the company estimated cost of goods sold : The normal gross profit for the company is $45%. What was the company's estimated cost of goods sold for the accounting period
Explain what are responsibility of top management and leader : What are the responsibilities of top management and leaders in relation to corporate governance and strategic planning?
Decrease government purchases : Suppose real GDP is $13 trillion, potential real GDP is $13.5 trillion, and Congress and the president plan to use fiscal policy to restore the economy to poten

Reviews

Write a Review

Basic Computer Science Questions & Answers

  Identifies the cost of computer

identifies the cost of computer components to configure a computer system (including all peripheral devices where needed) for use in one of the following four situations:

  Input devices

Compare how the gestures data is generated and represented for interpretation in each of the following input devices. In your comparison, consider the data formats (radio waves, electrical signal, sound, etc.), device drivers, operating systems suppo..

  Cores on computer systems

Assignment : Cores on Computer Systems:  Differentiate between multiprocessor systems and many-core systems in terms of power efficiency, cost benefit analysis, instructions processing efficiency, and packaging form factors.

  Prepare an annual budget in an excel spreadsheet

Prepare working solutions in Excel that will manage the annual budget

  Write a research paper in relation to a software design

Research paper in relation to a Software Design related topic

  Describe the forest, domain, ou, and trust configuration

Describe the forest, domain, OU, and trust configuration for Bluesky. Include a chart or diagram of the current configuration. Currently Bluesky has a single domain and default OU structure.

  Construct a truth table for the boolean expression

Construct a truth table for the Boolean expressions ABC + A'B'C' ABC + AB'C' + A'B'C' A(BC' + B'C)

  Evaluate the cost of materials

Evaluate the cost of materials

  The marie simulator

Depending on how comfortable you are with using the MARIE simulator after reading

  What is the main advantage of using master pages

What is the main advantage of using master pages. Explain the purpose and advantage of using styles.

  Describe the three fundamental models of distributed systems

Explain the two approaches to packet delivery by the network layer in Distributed Systems. Describe the three fundamental models of Distributed Systems

  Distinguish between caching and buffering

Distinguish between caching and buffering The failure model defines the ways in which failure may occur in order to provide an understanding of the effects of failure. Give one type of failure with a brief description of the failure

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