5. On the basis of the three individual demand schedules in the following table, and assuming these...
Question:
5. On the basis of the three individual demand schedules in the following table, and assuming these three people are the only ones in the society, determine
(a) the market demand schedule on the assumption that the good is a private good and
(b) the collective demand schedule on the assumption that the good is a public good. LO4.3
Transcribed Image Text:
P Q(D) Q(D) Q(D) $8 0 1 7 0 2 0 0 0 9 3 1 5 1 2 432 1 346 3 4 5 9 45678 2 9 3456
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
Macroeconomics
ISBN: 9781259915673
21st Edition
Authors: Campbell McConnell, Stanley Brue , Sean Flynn
Question Posted:
Students also viewed these Business questions
-
5. On the basis of the three individual demand schedules in the following table, and assuming these three people are the only ones in the society, determine (a) the market demand schedule on the...
-
On the basis of the three individual demand schedules in the following table, and assuming these are the only three people in the society, determine a. the market demand schedule on the assumption...
-
On the basis of the three individual demand schedules in the following table, and assuming these are the only three people in the society, determine (a) the market demand schedule on the assumption...
-
Which one of the following statements related to investigations of workplace harassment complaints under Ontario's OHSA is true? a) As a rule, such investigations should be completed with 120 days of...
-
"Author Bio" Who is the author? How does knowing about author influence your reading? Back up your argument by providing a rich depth of specific textual evidence. Author Bio: this might help put a...
-
Suppose that n people have their hats returned at random. Let Xi = 1 if the ith person gets his or her own hat back and 0 otherwise. Let Sn = n i=1 Xi. Then Sn is the total number of people who get...
-
5. On the basis of the three individual demand schedules in the following table, and assuming these three people are the only ones in the society, determine (a) the market demand schedule on the...
-
Parker Department Store is located near the Mark Twain Shopping Mall. At the end of the companys fiscal year on December 31, 2014, the following accounts appeared in its adjusted trial balance....
-
ocal bank does not know how much of its cheque-processing costs are fixed and how much are variable. However, total costs have been estimated at $27,000 for processing of 18,000 transactions and...
-
4. advanced analysis Assume the following values for Figures 4.4a and 4.4b: Q1 = 20 bags. Q2 = 15 bags. Q3 = 27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The...
-
6. Use your demand schedule for a public good, determined in problem 5, and the following supply schedule to ascertain the optimal quantity of this public good. LO4.3 P $19 16 Q 10 8 13 6 10 4 74 2 1
-
Letters of Credit. What is the difference between confirmed and unconfirmed letters of credit?
-
What is R Programming? Describe at least 3 areas or projects in which R programming can be used. Provide examples
-
Please elaborate to the following questions as it deals with revenue management in the hospitality industry. 1. Should revenue management efforts be locally managed or centralized to a regional...
-
For each fund or government-wide category, select the letter(s) of the applicable fund type or characteristic. Multiple letters may apply to each category. (Select all that apply.) Characteristic a....
-
(A) One example of how EOQ can be affected by real applications and constraints. (B) One example of a continuous review system. Explain how the model works and if you believe it is the best fit for...
-
c. Using the critical values table, calculate the p-value for this test. d. Interpret the p-value as it relates to these data. Explain the meaning of this result. CRITICAL VALUES TABLE P 0.995 0.975...
-
Indicate on the phase diagram in Fig. 6.42 the feature that denotes incongruent melting. What is the composition of the eutectic mixture and at what temperature does it melt?
-
Explain what is meant by vicarious liability and when it is available?
-
Suppose Neds Beds does not have to lower the price in order to sell more beds. Specifically, suppose Ned can sell all the beds he wants at a price of $275 per bed. a. What will Neds MR curve look...
-
Howell Industries specializes in precision plastics. Their latest invention promises to revolutionize the electronics industry, and they have already made and sold 75 of the miracle devices. They...
-
Assume that the market for cardboard is perfectly competitive (if not very exciting). In each of the following scenarios, should a typical firm continue to produce or should it shut down in the short...
-
Given the mass in grams of an element, such as silver, for example, explain how you would determine the number of moles of that element.
-
Blanchford Enterprises is considering a project that has the following cash flow data. What is the project's Internal rate of return (IRR)?(Enter your answers as a decimal.rounded to 4 decimal...
-
QUESTION 15 In year 2021 Top Bank Plc had the following operations (expressed in 5000). Interest on customers' credit card balances: 122.1 Insurance for the bank car fleet: 2.6 Bank branches rent:...
Study smarter with the SolutionInn App