Given these two individual demand curves, what is the equation for the market demand curve for a private good? I.P200 - 10Q il.P-200 - (20/3)Q Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. P= 200 - 4Q b P=200 - 8.33Q P= 100 -8.33Q P= 100 - 1.67Q
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- Completed 17 out of 20 estion 14 of 20 > A network externality is an external cost or benefit generated from the O virtuous cycle. O production of a network good. consumption of a network good. O network effect. LAPTOP LOGIN cen PASSWORD: Browarg USERNAME: studentCategorize each of the following five goods as a Private Good, Common Good, Club Good, or Public Good. Descriptions of each good will serve as hints. Remember, our textbook outlines only two types of goods, see the notes and lecture video for the other two types. a) An NPR (radio) signal - which is available to everyone with a radio, whether or not they contribute, the signal does not diminish no matter how many people tune in. [Select] b) A new Ford truck this can only be purchased by one person, you can not drive it off the lot without paying for it. [Select] c) A subscription to Disney+ - you can not have a subscription without paying for it, purchasing a subscription does not lower the total number of subscriptions available. [ Select] d) A fireworks show on the 4th of July - the fireworks are visible to everyone in the town, whether or not they contributed anything to the display, one person viewing the fireworks does not make them less visible for anyone else. [Select] e) A…34. Which one would have the greatest effect
- Acres Willingness to Pay (Dollars) Sophia Amber Cedric 10 24 6. 8 18 3. 14 4 3 8. 3. 5. 1 6. 4 1 Consider the town of Springfield with only three residents: Sophia, Amber, and Cedric. The three residents are trying to determine how large, in acres, they should build the public park. The following table shows each residents' willingness to pay for each acre of the park. Suppose the cost to build the park is $24 per acre. How many acres should the park be to maximize total surplus from the park in Springfield? O 4 acres О З асгes O 1 acre O 2 acres1. You are the coordinator of a nonprofit that distributes donated items to three local homeless shelters and want to figure out a way of distributing the donated items to the shelters who need it the most. Which of the following would most likely achieve your goal? Select the correct answer a. Send all the donations to the shelter that has the least. b. Divide the donations evenly among the three shelters. c. Ask shelters to submit their requests, and decide what to send where based on their answers. d. Offer each shelter a virtual "budget" and have them bid on different items. 1.1 Which of these best represent a planned approach and which best represent a market approach? Divide the answer into two groups (planned and Market approach) a. send all the donations to the sheller that has the least b. ask sellers to submit their request and decide what to send where based on their answers c. divide the donations evenly among the three shellers d. offer each sheller a…2. only
- Choose the correct answer.3.Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms. (At the same time, some Internet businesses such as grocery home deliveries have continually suffered steep losses regardless of scale. Explain why.) Could lower transaction costs in e-commerce ever make it easier for small suppliers to compete? As noted in the previous chapters, network externalities are often an important aspect of demand for information goods and services. (The benefits to customers of using software, participating in electronic markets, or using instant messaging increase with the number of other users.) How might network externalities affect firm operating strategies (pricing, output, and advertising) and firm size?Acres Sophia Amber Cedric 1 $12 $24 $6 8. 18 6. 3 10 4 3 3 4 1 2 Consider the town of Springfield with only three residents, Sophia, Amber, and Cedric (see the Table). The three residents are trying to determine how large, in acres, they should build the public park. Suppose the cost to build the park is $12 per acre and that the residents have agreed to split the cost of building the park equally. If the residents vote to determine the size of park to build, basing their decision solely on their own willingness to pay (and trying to maximize their own surplus), what is the largest park size for which the majority of residents would vote "yes?" 1 acre 3 acres 2 acres 4 acres Question 25 of 25 A Click Submit to complete this assessment.
- Discuss the importance of transaction costs. How are businesses harnessing the power of network effects during the COVID-19 pandemic?10 . Cost-benefit analysis A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as planting trees and remodeling buildings, to make the campus more aesthetically pleasing. For the students of the college, the visual appearance of the campus is and . Thus, the visual appearance would be classified as a public good. Suppose the college administrators estimate that the beautification initiative will cost $38,080. To decide whether the initiative should be undertaken, administrators conduct a survey of the college's 1,830 students, asking each of them their willingness to pay for the beautification project. The average willingness to pay, as revealed by the survey, is $16. The benefit of the beautification initiative, as suggested by the survey, is . Because the estimated benefit is than the cost, the college administrators undertake the beautification initiative. The calculation of…Figure 5-4Suppose there are several paper mills producing paper for a market. These mills, located upstream from a fishing village, discharge a large amount of wastewater into the river. The waste material affects the number of fish in the river and the use of the river for recreation and as a public water supply source. Figure 5-4 shows the paper market. Use this Figure to answer the following question(s).Refer to Figure 5-4. What does S1 represent? Question 4 options: A) the market supply curve that reflects social cost B) the market supply curve that reflects only external cost C) the market supply curve that reflects only private benefit D) the market supply curve that reflects private cost