Question 6 (1 point) Listen In the following figure: Price of 4 apples D P MC2 p. P2 MC 0. Q Quantity of apples at Q2, Is a less efficient output than Q1. Is a more efficient output than Q1. An apple costs more to the producer than what the consumers values it at. None of the listed answers. An apple costs less to the producer than what the consumers values it at. Question 7 (1 point) Listen Under the Hicks-Kaldor Criterion, we should only undertake a project O if there is a pareto improvement for everyone. regardless whether there is a pareto improvement for everyone regardless if there are undesirable distributional effects. as long as there is a positive net present value, regardless if there are undesirable distributional effects. Measuring some of the benefits and costs of national defence is difficult but we can look at the willingness to pay. at the value of life as a measure. at the least costly way to achieve the desired goal. historical spending on defence Question 16 (1 point) Listen Lars will trade two pizzas for one pepsi and be equally happy. At the same time, Norov will gladly exchange two of his pepsis for six pizzas. Is the allocation of pepsi and pizza Pareto efficient? Not enough information, would need to know the marginal rate of transformation. The necessary condition for the Pareto efficient allocation is violated since the marginal rate of substitution of pepsi for pizza (MRS) is 3 for Lars and 2 for Norov. The necessary condition for the Pareto efficient allocation is violated since the marginal rate of substitution of pepsi for pizza (MRS) is 2 for Lars and 3 for Norov. Yes, both have maximized their utility given their initial endowment. Question 6 (1 point) Listen In the following figure: Price of 4 apples D P MC2 p. P2 MC 0. Q Quantity of apples at Q2, Is a less efficient output than Q1. Is a more efficient output than Q1. An apple costs more to the producer than what the consumers values it at. None of the listed answers. An apple costs less to the producer than what the consumers values it at. Question 7 (1 point) Listen Under the Hicks-Kaldor Criterion, we should only undertake a project O if there is a pareto improvement for everyone. regardless whether there is a pareto improvement for everyone regardless if there are undesirable distributional effects. as long as there is a positive net present value, regardless if there are undesirable distributional effects. Measuring some of the benefits and costs of national defence is difficult but we can look at the willingness to pay. at the value of life as a measure. at the least costly way to achieve the desired goal. historical spending on defence Question 16 (1 point) Listen Lars will trade two pizzas for one pepsi and be equally happy. At the same time, Norov will gladly exchange two of his pepsis for six pizzas. Is the allocation of pepsi and pizza Pareto efficient? Not enough information, would need to know the marginal rate of transformation. The necessary condition for the Pareto efficient allocation is violated since the marginal rate of substitution of pepsi for pizza (MRS) is 3 for Lars and 2 for Norov. The necessary condition for the Pareto efficient allocation is violated since the marginal rate of substitution of pepsi for pizza (MRS) is 2 for Lars and 3 for Norov. Yes, both have maximized their utility given their initial endowment
