When people decide to buy cars, they have to decide between fuel economy and other features. It is argued that there is a "public good" issue involved in this decision.  Why might that be?  How the existence of public-good characteristics affect the price of the car?   Include in your answer a good definition of a public good and free riders.

For each of the goods, identify the characteristics that describe each good. Note that each good will be described with two characteristics. Rivalrous is also referred to as rival in consumption. Consider only the immediate benefits and costs, not any externalities. National Defense Pay- Per- View Cable Television A Hot Pocket Sandwich Private Classroom Education Pajamas A unicycle             Excludable Nonrivalrous Nonexcludable Rivalrous

Scenario 10-1 The demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. The production of the 1,000th gallon of gasoline entails the following: a private cost of $3.10 • a social cost of $3-55 a value to consumers of $3.70 Refer to Scenario 10-1. Suppose the equilibrium quantity of gasoline is 1,150 gallons; that is, QMARKET = 1,150. Then the equilibrium price of a gallon could be a. $3.30. b. $3.80. c. $3.00. d. $2.80.

A small town provides a fireworks display, which is a public good, every fourth of July. For simplicity, assume the town only has two residents: Hayden and Madison. Their demands for the fireworks display are illustrated in the figure to the right. Construct the market demand curve for this public good. 8.00 7.50- 7.00- 6.50- 6.00- 5.50- 5.00- 4.50- Use the line drawing tool to draw the market demand curve (DMarket) for the fireworks display. Properly label this line. 4.00- DMadison DHayden 3.50- Carefully follow the instructions above, and only draw the required objects. 3.00- 2.50- P 2.00- 1.50- 1.00- 0.50- 0.00- 2 4 6 8 10 12 14 16 Quantity (number of fireworks) Price (dollars per firework)

Suppose there are only two consumers in the market for a public good. The figure to the right shows marginal benefit lines for a public good for the two individuals, Andrew (A) and Brenda (B). Use the line drawing tool to draw and label the social marginal benefit line. Make sure that the line extends from quantity level 0 to 10 as the private marginal benefit lines do. Carefully follow the instructions above, and only draw the required object. Marginal Benefit, Marginal Cost ($) 20- 18- 16- 14- có + 2- 0- -O 0 1 MC 2 3 4 5 6 7 8 9 Quantity of a Public Good MBA MBB 10 11 12 Q

A lighthouse, or terrestrial television, are considered to be examples of public goods (or services) because: a)  They are most often provided through a publicly funded service. b)  The service is available to all, and use does not restrict the ability to other users to enjoy the service. c)  Users can free ride, enjoying the service without making any payment for it. d)  The service is considered to have value to the whole of society, and not just to its users.

There are three individuals in society, named A, B and C. The individuals' inverse demand curves for a public good are PA = 20 - 3Q, PB = 35 - 5Q and PC = 45 - Q, and the social marginal cost curve for the public good is given by SMC = Q. What is the optimal amount of the public good? a) 1 b) 9 c) answer 10 d) 100 , show me the method.

Question 22 Refer to Figure 2  in Question 20. What price and quantity combination best represents the socially optimum price and number of concerts that should be organized? Group of answer choices P1 and Q0 P1 and Q1 P2 and Q0 P2 and Q1

The cost (supply) of each "unit" of NPR (National Public Radio) is P=9. Derek's valuation for each unit of NPR (demand) is given by Pp=20-2Q, and Kim's valuation is given by Pk=10-Q. The social valuation of NPR is Ps= Q. The socially optimal amount of NPR is units. Without intervention, the private market would lead to an 수 of NPR. Suppose the government decides to subsidize NPR in order to achieve the socially optimal amount of NPR. The total demand function is Qr= The appropriate subsidy is $ (include 2 decimals) per unit of NPR

I need some help drawing the curve for p1+p2+p3