Consider two individuals that consume a public good which has constant marginal cost of $140 Demand of Person 1 Q = 40 – P/4 Demand of Person 2 Q = 80 – P/2 a) What is the socially optimal amount that should be provided of this good? How much should each consumer pay? b) How much will actually be provided with no government involvement?explain

Answers

Answer 1

A - Each consumer should pay the respective prices calculated above.    B - Without government involvement, the actual quantity provided would likely be less than 373.33, resulting in a suboptimal allocation of the public good.

a) To determine the socially optimal amount of the public good, we need to find the point where the marginal cost (MC) of providing the good is equal to the sum of the marginal willingness to pay (MWP) for each individual. Let's calculate the MWP for Person 1 and Person 2:

Person 1:

Q = 40 - P/4

MWP1 = d(Q)/dP = -1/4

Person 2:

Q = 80 - P/2

MWP2 = d(Q)/dP = -1/2

To find the socially optimal quantity, we set the sum of the MWP equal to the marginal cost:

MWP1 + MWP2 = MC

-1/4 + (-1/2) = -140 (since MC is constant at $140)

Simplifying the equation, we get:

-3/4 = -140

Solving for the socially optimal quantity (Q), we find:

Q = -140 / (-3/4) = 373.33

Therefore, the socially optimal amount of the public good is approximately 373.33.

To determine how much each consumer should pay, we need to calculate the price (P) at this optimal quantity for each individual's demand functions:

Person 1:

Q = 40 - P/4

373.33 = 40 - P/4

P/4 = 40 - 373.33

P = (40 - 373.33) * 4

Person 2:

Q = 80 - P/2

373.33 = 80 - P/2

P/2 = 80 - 373.33

P = (80 - 373.33) * 2

Hence, each consumer should pay the respective prices calculated above.

b) Without government involvement or any intervention, the provision of public goods is subject to the free-rider problem. In this scenario, individuals can benefit from the public good without having to contribute to its production or maintenance. As a result, the actual amount provided may be less than the socially optimal quantity.

In this case, without government intervention, the public good would be provided based on the individuals' willingness to pay. Since Person 1's demand has a higher price elasticity (-1/4) compared to Person 2's demand (-1/2), Person 1 would be willing to pay a higher price for the good. As a result, the provision of the public good would be more aligned with Person 1's demand, leading to a quantity lower than the socially optimal amount.

Therefore, without government involvement, the actual quantity provided would likely be less than 373.33, resulting in a suboptimal allocation of the public good.

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Design thinking is a iterative method for problem solving.

Option B is correct .

Design thinking :

Design thinking is an iterative process of trying to understand users, challenging assumptions and redefining problems to identify alternative strategies and solutions that may not be immediately apparent at the initial level of understanding. To do. Design thinking is a non-linear, iterative process teams use to understand users, challenge assumptions, redefine problems, and create innovative solutions for prototyping and testing. It has five phases: Empathize, Define, Idea, Prototype, and Test, and is most useful for tackling poorly defined or unclear problems.

What is human-centered design thinking?

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Read the passage from the Articles of Confederation, then use the drop-down menus to answer the questions.

The said States hereby severally enter into a firm league of friendship with each other for their common defence the security of their Liberties, and their mutual and general welfare binding themselves to assist each other against all force offered to or attacks made upon them or any of them on account of religion sovereignty trade or any other pretence whatever.
–Article III of the Articles of Confederation

Which of the following is not included as a reason to form the Articles of Confederation?
The answers are
to have a common defense
to ensure justice
to secure liberty
What does this article call on the states to do?
The answers are
defend one another
launch attacks
trade with other nations

Answers

Answer:

The Articles of Confederation were adopted by the Continental Congress on November 15, 1777. This document served as the United States' first constitution. It was in force from March 1, 1781, until 1789 when the present-day Constitution went into effect.

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Explanation:

Which of the following is not included as a reason to form the Articles of Confederation?

To ensure justice.

What does this article call on the states to do?

Defend one another.

Have a good day!!! <3

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Answer:

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Explanation:

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Spain helped the Colonial army during the American Revolution by
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keeping the British navy occupied.
forcing General Cornwallis to surrender.
trapping the British on a peninsula at Yorktown.

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Answer:

Correct answer is keeping the British navy occupied.

Explanation:

Although revolutionist had small navy during the war, first option is not correct as they weren't made by Spaniards.

Second option is correct as Spain fought with Britain in British West Indies, which occupied part of their troops.

Third and fourth options are not correct as Washington's army was the one that did this two mentioned things.

Answer:

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Answers

Answer:

Caste not only dictates one's occupation, but dietary habits and interaction with members of other castes as well. Members of a high caste enjoy more wealth and opportunities while members of a low caste perform menial jobs. Outside of the caste system are the Untouchables.

Explanation:

Answer:

Members of a high caste enjoy more wealth and opportunities while members of a low caste perform menial jobs.

Explanation:

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Answer:

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Explanation:

Hope this helps you

Answer:

A democratic country has a system of government in which the people have the power to participate in decision-making. Each democracy is unique and works in different ways. In some democracies citizens help make decisions directly by voting on laws and policy proposals (direct democracy) .

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make observations is the first thing to do

Answer:

Explanation: making observe

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Answers

The interaction between men and women in public is an example of the culture of another country. So the answer is b.

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Answer:

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Answers

Answer:

C. Cognitive map.

Explanation:

Tabetha has a mental picture of the layout of her house, also called a Cognitive map, so when she comes home late at night she can navigate through the rooms without turning on a light. Hence, option C is correct.

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A cognitive map is any visual representation of an individual's mental model for a particular process or subject. There are no set guidelines that must be adhered to when developing a cognitive map, therefore the visual representation of the concepts and their relationships to one another is unrestricted.

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True. According to the biblical account in the book of Job, Job's three friends, named Eliphaz, Bildad, and Zophar, initially showed commendable companionship by sitting with him during his suffering and mourning.

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in seven pages, excluding reference page, discuss the relevance of studying ethics as an academic discipline as espoused by Rohr, Applebey, and cooper and explainthe importance of regime values to the study of ethics in public administration. lastly, state and explain the ethical theories that provide the foundation for understanding a real life scenario to illustrate your understanding of the relationship between the theories and ethics in public administration

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The study of ethics as an academic discipline is of great importance because it gives individuals a systematic understanding of moral principles and their application in different scenario. Scholars such as Rohr, Applebay, and Cooper argue that ethics fosters critical thinking, decision-making, and it is responsible for personal and professional spheres.

It provides individuals with the ability to navigate complex ethical dilemmas, encourages moral thinking, and promotes a sense of social responsibility.

System values ​​are the shared principles and norms that govern individual behavior within a particular administrative system. They provide a moral compass and help shape ethical standards and behavior in public administration.

Various ethical theories serve as a basis for understanding ethical dilemmas in public administration.

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These theories offer different perspectives and frameworks for analyzing ethical issues in public administration, considering the consequences, principles, and virtues involved. Understanding these theories helps facilitate ethical analysis, decision-making, and ethical behavior in public administration. 

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How did the university of Georgia change access to education in Georgia

Answers

In 1931 the General Assembly of Georgia placed all state-supported institutions of higher education, including UGA, under the jurisdiction of a single board. This organization, known as the University System of Georgia, is governed by the board of regents. The board of regents’ executive officer, the chancellor, exercises a general supervisory control over all institutions of the University System, with each institution having its own executive officers and faculty.

Answer:

It provided opprutunieties to people for education regardless of financial status

Explanation:

These were the first Americna Indians to live in the Georgia Region when the Spanish arrived in mid-1500s. They are the last major prehistoric American Indian culture in Georgia.
Which of these is the answer: a. Paleo Indians
B. Mississipian Indians
C. American Indians

Answers

Answer:

The correct answer is B. Mississipian Indians

Explanation:

This is the correct answer, because Mississipian Indians inhabited this region between 800 and 1 600 AD. They were the last great culture in this area.

A is wrong answer because Paleo Indians inhabited America even during the Stone Age

C is wrong answer because it is a wide expression for all Natives.

Answer:

B. Mississipian Indians

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