9) There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by W1 = $200 – T, %3D W2 = $240 – 2T, W3 = $320 – 2T. Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour. a. What is the efficient number of hours of public television? b. How much public television would a competitive private market provide?

9) There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by W1 = $200 – T, %3D W2 = $240 – 2T, W3 = $320 – 2T. Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour. a. What is the efficient number of hours of public television? b. How much public television would a competitive private market provide?

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 2PA

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6. There are three groups in a community. Their demand curves for public television in hours of programs, T, are given respectively by W1 = $200 – T W2 = $240 – 2T W3 = $320 – 2T Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour. What is the efficient number of hours of public television?
9) There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by W₁ = $200 - T, 1 W₂ = $240 - 2T, 2 W₂ = $320 2T. 3 Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour. a. What is the efficient number of hours of public television? b. How much public television would a competitive private market provide?
10) There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by W₁ = $200-T, W₂ = $240-27, W3 = $320-2T. Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour. a. What is the efficient number of hours of public television? Willingness to Pay Group 2 Group 3 Vertical Hours (7) Group 1 (W₁) (W₂) (W3) Sum 100 100 40 120 260 106 94 28 108 230 112 88 16 96 200 118 82 84 170 b. How much public television would a competitive private market provide?
Only typed answer You are an industry analyst that specializes in an industry where the market inverse demand is P = 100 - 3Q. The external marginal cost of producing the product is MCExternal = 6Q, and the internal cost is MCInternal = 14Q. Instruction: Round your answers to the nearest two decimal places. a. What is the socially efficient level of output? units b. Given these costs and market demand, how much output would a competitive industry produce? units c. Given these costs and market demand, how much output would a monopolist produce? units d. Which of the following are actions the government could take to induce firms in this industry to produce the socially efficient level of output. Instructions: You may select more than one answer. Click the box with a check mark for the correct answers and click twice to empty the box for the wrong answers. You must click to select or deselect each option in order to receive full credit. Pollution taxes…
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Can I get help asap please The figure below shows the market for a chemical, of which the production causes certain negative externalities in the form of pollution. Define MCP = marginal private cost, MCS = marginal social cost, D = market demand, P = price, and Q = quantity.(a) If the market is competitive, what is the equilibrium price and quantity?(b) Is this equilibrium outcome socially optimal?(c) In terms of the areas denoted by A, B, and C, what is the deadweight loss to society if the market is competitive?(d) What can the government do to achieve the socially optimal level of pollution?