1. Consider the following scenario, then respond to questions a and b below:

The legalization of recreational marijuana is being considered the in state of Pennsylvania.

One counter argument is that legalization will make people become less productive.

However, people also argue that the taxes could go towards giving businesses tax breaks

on purchasing capital (giving businesses and incentive to increase capital).

a) Assuming Pennsylvania were to legalize recreational marijuana and both of the above

arguments become true (meaning people become less productive and businesses increase

capital), construct a per-worker production function for this economy with two points

labeled on it. Point A for before the legalization and

point B for after and the effects

listed above take place. Assume nothing else happens. Be sure to label both axes and

your per-worker production function like we did earlier in the lesson.

b) Explain in detail what changes you made on your diagram above and why you made

those changes. Also explain the outcome of these events related to the variables we see in

this model.

8. (5 points) In making a decision about a proposed policy change, what major advantage does "pure" cost-benefit analysis offer over qualitative cost-benefit analysis? Given this advantage, why might qualitative cost- benefit analysis be used instead of "pure" cost-benefit analysis?A project manager is undertaking Cost Benefit analysis that will be presented to Senior Management for review and making final decisions. Which of the following actions should the project Manager do to BEST benefit Senior Management? Run a Cost-Benefit Variance Analysis (CBVA) report Form a Cost-Benefit problem-solving team Develop a viable business case for each alternative approach Eliminate a number of potential trade-offs so senior management will require less time to make decisionsmandeep singh: Attempt 1 A project manager is undertaking Cost Benefit analysis that will be presented to Senior Management for review and making final decisions. Which of the following actions should the project Manager do to BEST benefit Senior Management? O Run a Cost-Benefit Variance Analysis (CBVA) report Form a Cost-Benefit problem-solving team O Eliminate a number of potential trade-offs so senior management will require less time to make decisions Develop a viable business case for each alternative approachQuestion 20 (1 point) A project manager is undertaking Cost Benefit analysis that will be presented to Senior Management for review and making final decisions. Which of the following actions should the project Manager do to BEST benefit Senior Management? Develop a viable business case for each alternative approach Eliminate a number of potential trade-offs so senior management will require less time to make decisions Run a Cost-Benefit Variance Analysis (CBVA) report Form a Cost-Benefit problem-solving team