Microeconomics (13th Edition)
13th Edition
ISBN: 9780134744476
Author: Michael Parkin
Publisher: PEARSON
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Question
Chapter 6, Problem 23APA
a)
To determine
Market for marijuana when no penalties are imposed.
b)
To determine
Impact on market outcome.
c)
To determine
Impact if penalty is imposed on the sellers.
d)
To determine
Impact if penalty is imposed on the buyers
e)
To determine
Marginal benefit.
f)
To determine
Benefit of legalization and
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4. What do you think would be the effect on the equilibrium price and quantity of marijuana as a result of its consumption being legalized?
Give reasons for your answer.
7. There is a road named High Street with 800m long. There are two grocery shops: Woolworths
located at the left end and Coles located at the right end. 4800 customers are uniformly
distributed along High Street. To make our life easier, assume both grocery stores sell the
same product, and consumers demand just one unit of the product. Traveling to a grocery
shop is costly, and the cost of traveling is 4 cents per meter. Suppose the price of the product
is $10 at Woolworths, and $12 at Coles. Then
customers will purchase
the product from Woolworths.
16
4
points
01:17:49
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References
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Graw
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The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land.
Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water
so Mexican farmers can irrigate their crops.
O
Price
$275
$250
$225
$200
$175
$150
$125
$100
$75
$50
$25
0
10
70 80
Irrigation (acres)
20 30 80 50
60
90
D=MB =MB
pvt
100
110
120
Chapter 6 Solutions
Microeconomics (13th Edition)
Ch. 6.1 - Prob. 1RQCh. 6.1 - Prob. 2RQCh. 6.1 - Prob. 3RQCh. 6.1 - Prob. 4RQCh. 6.2 - Prob. 1RQCh. 6.2 - Prob. 2RQCh. 6.2 - Prob. 3RQCh. 6.2 - Prob. 4RQCh. 6.2 - Prob. 5RQCh. 6.3 - How does the elasticity of demand influence the...
Ch. 6.3 - Prob. 2RQCh. 6.3 - Prob. 3RQCh. 6.3 - Prob. 4RQCh. 6.3 - Prob. 5RQCh. 6.4 - Prob. 1RQCh. 6.4 - Prob. 2RQCh. 6.4 - Prob. 3RQCh. 6.4 - Prob. 4RQCh. 6.4 - Prob. 5RQCh. 6.5 - Prob. 1RQCh. 6.5 - Prob. 2RQCh. 6.5 - Prob. 3RQCh. 6.5 - Prob. 4RQCh. 6 - Prob. 1SPACh. 6 - Prob. 2SPACh. 6 - Prob. 3SPACh. 6 - Prob. 4SPACh. 6 - Taxes (Study Plan 6.3) 5.The table in the next...Ch. 6 - Prob. 6SPACh. 6 - Prob. 7SPACh. 6 - Prob. 8SPACh. 6 - Prob. 9APACh. 6 - Prob. 10APACh. 6 - Prob. 11APACh. 6 - Prob. 12APACh. 6 - Prob. 13APACh. 6 - Prob. 14APACh. 6 - Prob. 15APACh. 6 - Prob. 16APACh. 6 - Prob. 17APACh. 6 - Prob. 18APACh. 6 - Prob. 19APACh. 6 - Prob. 20APACh. 6 - Prob. 21APACh. 6 - Prob. 22APACh. 6 - Prob. 23APA
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