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Hey could i get a solution to the following questions in order to verify my answers QUESTION 1 Corinthian Hills (C.H.) is a highly guarded
Hey could i get a solution to the following questions in order to verify my answers
QUESTION 1 Corinthian Hills (C.H.) is a highly guarded private subdivision in which most of the residents are wealthy individuals and families. One of the residents donated a massive park (i.e. has enough space for simultaneous use of residents) in the middle of the subdivision where other homeowners can have a picnic or hold an outdoor party. An outsider knew about this park and decided to hold his birthday party there. However, he needs the permission of the homeowner's association of C.H. to proceed with his celebration. 1. The private park is considered a private good 2. The private park is considered a collective good. 3. The private park is always non-rivalrous but sometimes excludable. Which of the following statements is true? Only 1 is true. Only 2 is true. Both 1 and 3 are true. Both 2 and 3 are true. None of the above are true. QUESTION 2 Lisa, Tionne and Rozonda are neighbours who wish to construct a beach volleyball court on the empty land that all three of their properties enclose. The beach volleyball court will cost approximately $50,000. The three are happy to share this cost to ensure that they can always use the court, even if another is using it. Lisa values the court at $22,000; Tionne values the court at $12,000. Which of the following statements are true? If Rozonda values the court at $15,000 the court will be constructed. No individual will pay for the court on their own. If Lisa, Tionne and Rozonda only wished to play with different people, and not with each other, the court could become rivalrous and may not be constructed. The beach volleyball court is an example of a private good.QUESTION 3 Princey and Ahern share a Notflix account which requires they pay one monthly subscription fee and both men can watch the TV shows they like on their own mobile device. The two of them watch the TV show "Brooklyn Eight Eight" on Notflix. Their neighbour, Sarah, doesn't have a Notflix account and instead buys a physical DVD of "Brooklyn Eight Eight". Select the item from the list provided to make the following statements true. As Princey and Ahern are both watching "Brooklyn Eight Eight" on Notflix at the same time, an 1. government economist would say that the TV show on Notflix is 2. retail 3. collective v Both the Notflix account and the DVD that Sarah purchases, as a result of the payments 4. binary category involved, can be classified as being 5. tragedy of the Commons If Sarah copies the contents of the DVD to a website where people can download it for free, 6. non-rivalrous and there are no issues with how many people can download it, "Brooklyn Eight Eight" then 7. excludable becomes a/an good. 8. rivalrous 9. private 10. semi-private 11. public 12. spectrum QUESTION 4 The Australian federal government is proposing a 68 million dollar initiative to upgrade the National Archives of Australia. Economists predict that the upgrade would allow the National Archives of Australia to generate an additional 11 million dollars of benefits to society through increased cultural and historical awareness. If only 23 percent of Australia's 25.8 million residents value National Archives, how much does each resident individually need to value the upgrade for this to be an efficient use of funds, taking into account the money generated by cultural and historical research benefits? Answer to the nearest whole dollar per resident (with no decimal points, spaces, $ signs, or commas in your answer)Step by Step Solution
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