Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 12, 2024

23. Consider the following market demand and market supply: Demand: p = 70-q Supply: p = 30+3q Suppose consumers fail to recognize external benefits of

23. Consider the following market demand and market supply:

Demand: p = 70-q Supply: p = 30+3q

Suppose consumers fail to recognize external benefits of $30, what is the efficient equilibrium quantity?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

Principles of Economics

Authors: Gregory Mankiw

7th edition

128516587X, 978-1285165875

More Books

Students also viewed these Economics questions

Question

★★★★★

Tom incorporates his sole proprietorship as Total Corporation and transfers its assets to Total in exchange for all 100 shares of Total stock and four $10,000 interest-bearing notes. The stock has a...

Answered: 1 week ago

Question

★★★★★

Explain the three different ways marketers use to measure the success of their marketing communications? What types of information does each method provide?

Answered: 1 week ago

Question

★★★★★

Find the value of the constant c for which the function f defined by f (x) = c 2 + cos( x) ex3 , 0 x 2, 0, elsewhere, is a density function for a continuous random variable X. Using this value...

Answered: 1 week ago

Question

★★★★★

Alabama Atlantic is a lumber company that has three sources of wood and five markets to be supplied. The annual availability of wood at sources 1, 2, and 3 is 15, 20, and 15 million board feet,...

Answered: 1 week ago

Question

★★★★★

The only way to develop an ethical corporate culture is to provide character education to existing employees or hire employees with good character and sensitize them to ethical issues. a . True b ....

Answered: 1 week ago

Question

★★★★★

If the top of the empty box is never opened and you want the interior of the box to remain at 6 . 0 0 C for exactly one week, until all the ice melts, what must be the thickness of the Styrofoam?

Answered: 1 week ago

Question

★★★★★

5. (35 points) Consider a random sample X1, X2, ..., Xn taken from a population with the following density parameterized by > -1: fo(x) = = { + (0+1)x, 0 Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★

1. Answer the following counting questions. a. Out of a group of 7 individuals, in how many ways can a chair, vice chair, and secretary be chosen? b. Among 10 people, 6 will be selected to go to a...

Answered: 1 week ago

Question

★★★★★

You are required the forms as per given scenario. You can choose any offline software to design the form. The form is just a design so needs not be in working stage. You cannot use online platforms...

Answered: 1 week ago

Question

★★★★★

A program that asks the user to enter a number between 1 and 20 (inclusive). It then prints out whether the number is between 1 and 10 (inclusive) or between 11 and 20 (inclusive) or if it is not in...

Answered: 1 week ago

Question

★★★★★

A piece of labor-saving equipment has just come onto the market that Mitsui Electronics, Limited, could use to reduce costs in one of plants in Japan. Relevant data relating to the equipment follow:...

Answered: 1 week ago

Question

★★★★★

Mono 0] Gra hical Suppose that you own a bakery that sells cookies. Each cookie costs you $1.00 to produce (chips and stuff like that) and for simplicity, there are no fixed costs. You notice that...

Answered: 1 week ago

Question

★★★★★

A greater tendency to create winwin situations.

Answered: 1 week ago

Question

★★★★★

Improving creative problem-solving ability.

Answered: 1 week ago

Question

★★★★★

1. Discuss the following statements: (a) A circle becomes a straight line when viewed on a very small scale. (b) Breaking patterns creates change.

Answered: 1 week ago

Previous Question Next Question