Consider the allocation of surface water between two types of users. The marginal net benefits are MNB, (q) =12-q, for one type and MNB, (q₂)=6-q, for the other type, where g, and q denote the quantity of water used by each type in suitable units and MNB denotes marginal net benefits in dollars per unit. a. Determine the aggregate marginal net benefit. b. Suppose there are q, 8 units of water available in a given year. Determine the efficient allocation of water to the two types. c. Suppose there are q, 4 units of water available in a given year. Determine the efficient allocation of water to the two types. d. Draw a clearly labeled graph illustrating the efficient allocation of water in parts b and

Q: The goal of this question is to have you use a model to determine the socially optimal provision of…

A: Public goods are goods that are non-excludable and non-rivalrous in consumption. Non-excludability…

Q: Hectares of Park 1 2 Figure 4.7 Willingness to pay for a Public Park 4 Refer to Figure 4.7. As MWTP…

A: ***Since the student has posted multiple questions, the expert is required to solve only the first…

Q: 2. Public Good and Contribution. Consider the following scheme for contributing to the provision of…

A: Given,

Q: The figure below shows the MWTP ($ per year) to lower indoor carbon monoxide of 3 students living in…

A: Socially efficient level of carbon monoxide concentration occurs at the following point: ΣMWTP =…

Q: The town of Boone has asked you to timate the total consumer surplus of imming trips to their…

A: The consumer surplus is defined as the difference between the price that the consumer is willing to…

Q: 3) There are 4 people in the market and 5 potential outcomes as shown in the table below: Outcomes…

A: Pareto improvement: It refers to the improvement in a system where changes in the distribution of…

Q: X(p)=1,000,000-200,000p, where p is the price charged by the government for use of a bridge, per…

A: The function X(p) represents the dd function for using the bridge which is inversely related to the…

Q: Assume that we have the following information about a firm that conducts scientific research: The…

A: We have the following information: Total private cost: TPC = 1.5q2 Total private benefit: TPB =…

Q: Utility = (x,y)² the individual's share of private good production (=x/100). Notice that the…

A: *Answer:  When two commodities are manufactured simultaneously, a production possibility curve (PPC)…

Q: Please mark all correct statements In cost benefit analysis various levels of public good is…

A: Market demand refers to the total quantity of goods that the consumers are willing and able to…

Q: True or False 1. If a specific forest ecosystem service can be substituted with a physical structure…

A: Economic value is the value that a person assigns to an economic good based on the benefit that the…

Q: QUESTION 16 16. Entering patient health care data into a database accessible to health care…

A: Externalities refers to the spillover effect  of one person's economic effect on other Person's…

Q: Questions 1-4 The Alpha, Beta, and Gamma residents of a village are install street lights along the…

A: Note: Since the question contains more than three subparts due to Bartlrby policy we are allowed to…

Q: h) What is the socially optimal level of production of leather by All-Leather? i) Draw a diagram…

A: If All-Leather produced the socially optimal level of leather, which is 10,000 units, then Enjoy…

Q: 7) Assume that scientific studies provide you with the following the benefits and costs of sulfur…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts.To…

Q: Practice: Suppose that are two people considering purchasing a public good. For each quantity…

A: Given that Marginal Benefit of Person 1 = 12 - QMarginal Benefit of Person 2 = 24 - 2QMarginal Cost,…

Q: a) Consumers Consider N consumers. Consumer i has the utility function: Ui = xi - k*(E2/2)…

A: The marginal rate of substitution (MRS) basically refers to the amount of one product that a…

Q: Consider a two-period resource allocation problem where the efficient allocation of the resource…

A: To determine the socially efficient undiscounted market price in the second period, we need to…

Q: 1. Assume there are two competing uses, municipal and agricultural, for a fixed amount of water Q=…

A: Allocative efficiency, in the context of economics, refers to a state in which resources are…

Q: 5. Public Goods Consider 2 individuals, Arrow and Becker, who have the following demand curves…

A: Given information There are 2 consumer for parks Arrow and Becker Demand curve for Arrow QA=4-PA…

Q: Imagine a firm with a marginal abatement cost (MAC) function equal to: MAC = 12-2E. The government…

A: Total revenue determines the amount earned from the quantity produced.Economic costs involve not…

Q: 4. Consider a community with 80 vacant parcels. The value of developed parcels can be represented by…

A: Total Number of Vacant parcels = 80  Value of Developed Parcel : V = 80 - X Cost of developing a…

Q: Stretch Problems Problem 4 Based on the graph below, explain what would happen to the optimal level…

A: For the above provided graph - Blue  curve which is downward sloping represents the marginal cost…

Q: (4) The equilibrium quantity is _______the socially efficient quantity. greater than less than…

A:

Q: 3. Assume that a mining company that produces ore sells its product for $40 per ton. Also assume…

A:

Q: A3) Consider production involving a positive extemality. Which one of the following statements is…

A: An externality is said to occur when the consumption or production of a product incurs a cost or…

Q: Explain the characteristics of local public goods and outline how the efficient quantity of local…

A: A non-excludable and non-rivalrous good is referred to as a public good in economics. Users cannot…

Q: Suppose a community is made up of ten thousand individuals, each of whom has an identical demand for…

A: There are ten thousands individuals and each one has identical inverse demand function, P = 25 -…

Q: Consider a municipality A and an irrigation district B with the following marginalnet benefit…

A: This question asked us to determine the optimal water consumption for both A and B under different…

Q: Categorize each of the following five goods as a Private Good, Common Good, Club Good, or Public…

A: Private goods are items that belong to an individual or a group and cannot be used by anyone else…

Q: the marginal social cost of garbage disposed is: MSCd (gd) = 10, where gd is a 50 gallor drum of…

A: Marginal social cost of disposable = 10 Marginal cost of recycling = 2gr Marginal Benefit = 800 -…

Q: Please explain each solution step by step. Consider an economy with 2 plants, A and B, whose…

A: Externalities may trigger failures in the marketplace since the system for determining prices cannot…

Q: many areas of the country, aquifers (pools of underground water) serve as the primary water source.…

A: Pay-off matrix reveals the possible benefit of the each person by selecting the different…

Q: onsider an economy with 2 plants, A and B, whose operations produce emissions. The graphs show the…

A: Externality in economics is defined as the additional cost or benefit that is fallen on a third…

Q: Which areas on the graph represent the net benefit to society at Anatole' original level of gas use?…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: 1. Solve for the graph and aggregate demand of the city’s 30 residents as functions of the number of…

A: Aggregate demand is an economic measurement of the total amount of demand for all finished goods and…

Q: Q2 solution needed i need in words  not handwritten solution   Q1: The October 30th, 2021 edition of…

A: Demand and supply forces interact in the market to give us the market equilibrium price and…

Q: Functions of the Environment

A: The environment is defined as the combination of physical, chemical, and biotic factors that…

Q: Now assume that and the market supply of sugar be given by the function P=2+0.5Q [assume that MPC =…

A: MPC stands for the Marginal Propensity to Consume, which measures the change in consumer spending…

Q: Explain why you should or shouldn't change the level of abatement if you abate a total of 1.0 Mg/L…

A: According to the marginal decision rule, the firm will maximize the profit by increasing the output…

Q: 3. Assume that scientific studies provide you with the following information concerning the benefits…

A: Externalities occur when there is an indirect impact on a party that is not directly related to the…

Q: Consider a modern city where firms are located in the central business district or along a…

A: Using of automobiles create negative externality for the environment. Smokes from automobiles lead…

Q: Minutes of fireworks Anita's MB (dollars per minute) Steve's MB (dollars per minute) 16 $20 $28 17…

A: The marginal benefits of Anita and Steve are given as- Minutes of fireworks Anita's MB (dollars…