Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

18. Which of the following scenarios would result in deadweight loss? Select one or more: a. Producing a unit that has a Marginal Social Benefit

18. Which of the following scenarios would result in deadweight loss? Select one or more:

a. Producing a unit that has a Marginal Social Benefit of $10, a Marginal Private Benefit of $5 and a Marginal Private Cost of $9

b. Producing a unit that has a Marginal Private Benefit of $5 and Marginal Spillover Benefit of $10 and a Marginal Private Cost of $9.

c. Producing a unit that has a Marginal Social Benefit of $12, a Marginal Private Benefit of $15 and a Marginal Private Cost of $9.

d. Producing a unit that has a Marginal Social Benefit of $4 a Marginal Private Benefit of $5 and a Marginal Private Cost of $9

e. Not producing a unit that has a Marginal Social Benefit of $8, a Marginal Private Benefit of $5 and a Marginal Private Cost of $9.

2. Suppose in a population of 100, there are 50 people have coronavirus. When testing, anyone who actually has the illness will receive a positive result. Also, 30 people receive a false positive. What percent of people who receive a positive, will NOT actually have coronavirus?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics Principles, Problems, And Policies

Authors: Campbell McConnell

21st Edition

1259915727, 9781259915727

More Books

Students also viewed these Economics questions

Question

4. What means will you use to achieve these values?

Answered: 1 week ago