If the government chooses to employ economic regulation, what are the 2 price/output options they might use? How would those options improve social welfare? Are there any drawbacks with respect to those options

Most countries today have subsidised the provision of education. Consider an imaginary country, Gondolin. Gondolin pays a subsidy of $10 000 per year to each student enrolled in tertiary education.   ADDITIONAL INFO - DONT NEED THIS ANSWERED - Depict, with the help of a figure, the initial market for tertiary education in Gondolin, assume that: 1) education was left to the competitive free market; 2) the marginal private benefit is equal to the marginal social benefit; 3) the marginal private cost is equal to the marginal social cost. Now describe, using the help of the figure, the effect of the government subsidy on the price and quantity traded of tertiary education, where the X axis of the figure should be the quantity of students enrolled in tertiary education. You do not need to use actual numbers – focus on the direction of change in price and quantity traded caused by the subsidy.   QUESTION Identify the area of the figure you drew in (a) that depicts the total size of the…

Lets say a government decided they wanted to internalize the externality caused by the use of gasoline by putting a tax on gasoline. Carefully argue who the government should apply the tax to: the buyers or the sellers of the gasoline.

Are utilities a public good, by definition?

What are the pros and cons and constitutionality of voter ID laws?

A residential community has 100 residents who are concerned about security. The accompanying table gives the total cost of hiring a 24-hour security service as well as each individual resident's total benefit. Total individual benefit to each Quantity of Security Guards Total Cost resident $0 $0 1 150 10 2 300 16 3 450 18 4. 600 19 a. Explain why the security service is a public good to the residents. b. Calculate the marginal cost, the individual marginal benefit for each resident, and the marginal social benefit. c. If an individual were to decide about hiring and paying for security guards on his or her own, how many guards would that person hire? d. If the residents act together, how many security guards will they hire? e. Do you think cooperation among the residents is made easier or more difficult by them all having the same private marginal benefit? Why?