Hey could i ask for the solutions in order to verify my answers, thank you :)

QUESTION 5 CineA and ViewB are the only 2 cinemas operating in Brisbane They have large market power in the cinema market and can make decisions on movie ticket pricing They often are at a competition to gain a larger market share Answer the following questions: a. In this type of market would CineA be able to maximise prots by setting marginal benefits = equals marginal costs which is the common rule used for a firm in a perfectly competitive market? Type Y for Yes or N for No b Anew movie is about to be released in theatres CineAand ViewEl are trying to work out their pricing strategy They could either charge a low price for their tickets or a high one The expected payo will depend much on the other cinema's decision The payoff matrix {with payos represented in thousand of dollars' CineA being the left player and ViewB being the player on the top row) is shown below. What pricing strategy should CineA make? . Type L for Low or H for High Low High Low 34. 31 79' 1:1 High 15. 30 54' 52 c Does this game satisfy the criteria for a Prisoner's Dilemma? . Type Y for Yes or N for No. d Is there the potential for consumers and customers to benefit from this outcome? Type Y for Yes or N for No QUESTION 6 Smoking has long been established to be bad for a person's health. It has an adverse impact upon both the smoker, as well as those who inhale second hand smoke. Prior to 1987, individuals were allowed to smoke cigarettes on aeroplanes. Due to the limited fresh air on aeroplanes, governments started banning smoking on aeroplanes. 1. Smoking on aeroplanes has economic implications for passengers 2. If government did not intervene then it is likely that passengers would continue to smoke on planes. 3. Smoking is an example of a negative externality. Which of the above statements are true: Only 1 is true. Only 2 is true. Both 1 and 2 are true. Both 2 and 3 are true. All three are true. QUESTION 7 Chandler was having health problems because he had smoked on and off for two decades. He took his doctor's advice and stopped smoking in order to improve his health. Which of the following statements are true. Chandler's decision to stop smoking creates no externalities. If the marginal private cost of quitting smoking for Chandler is greater than the marginal private benefit, then the decision to quit smoking is definitely economically inefficient for society. Chandler should not receive any subsidy to help him quit smoking because it is a private decision for his own health. Chandler's decision to quit smoking will provide an external benefit to those around him.QUESTION 8 Smoking has been known to be detrimental to a smoker's health. Furthermore, it also has adverse effects on the people around the smoker and also the environment where cigarette butts are found littered all around the world. Select the item from the list provided to make the following statements true: Caleb is a smoker. He has done a cost benefit analysis and found that his total benefits 1. positive externality outweighs his total cost so he decides to continue smoking. It is likely that Caleb did not 2. dead weight loss consider 3. social cost v 4. marginal cost The current level of consumption of cigarettes is considered to be inefficient due to 5. command and control 6. cap and trade A government planning to ban the sale and consumption of cigarettes is an example of 7. economic profit 8. private cost 9. opportunity cost 10. tax 11. accounting loss 12. subsidy QUESTION 9 George runs a very large confectionary factory where he makes all kinds of products including chocolate, toffee, and fudge, for the export market. Hector runs a doctor's practice next to this facility. Currently, George's factory machinery produces a substantial amount of noise, which is making it difficult for Hector to properly focus when he is treating a patient. This situation is causing Hector great distress, and, spurred on by his varying attentiveness and the annoyance of the noise itself, patients are also starting to seek medical care elsewhere. Hector therefore wishes to come to an agreement with George to stop him from using his machinery during times when he should be the busiest with patients at his practice. Their respective benefits are shown below: No Noise Controls Noise Controls Gains to George ($) 800 500 Gains to Hector (S) 250 513 Total ($) 1050 If negotiation costs are $171 what is the maximum amount of money that Hector could offer George to introduce noise controls on his factory and still be better off by $1? Answer to the nearest whole number in dollars (with no decimal places, $ sign, spaces or commas)QUESTION 10 Chris owns a large pharmaceuticals company, which has several large production plants across the country. These plants produce approved drugs. In producing these drugs, a large amount of hazardous chemicals is released into the air. The Australian Government recently introduced legislation that charges companies based on the amount of chemicals emitted that are above 5% hazardous. They can either opt to meet the 5% target and pay no permit cost (Process D), or purchase permits entitling them to pollute in excess of 5% (but this will also incur a cost to modify their production methods). Process A B C D Hazardous chemicals emissions (%) 35 23 11 5 Costs to modify Chris's production methods ($ thousand) 0 100 700 900 Permit cost ($ thousand) 500 300 100 0 a. Given the government's policy, the government believes that currently emissions of hazardous chemicals are too high. An economist would say that the current level of hazardous chemicals emissions results in less surplus than the optimal level. In other words, the market is currently: Type E for Efficient, NE for Not Efficient, O for exceeding the Opportunity cost or M for Maximising social benefits. b. Imagine the government altered its goal and instead decided that only 60% of Chris's plants had to be compliant with the 5% target. What would be the total cost to society be to ensure Chris's company complied with the Government's requirements? Answer in millions of dollars (rounded to two decimal places). $ million. c. Given the cost of permits and costs to modify his production methods (assuming the alteration in part b does not happen), what process will Chris prefer out of the four options? Type A, B, C, or D