1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
natulia [17]
3 years ago
11

There are three consumers of a public good. The demands for the consumers are as follows: Consumer 1: P1 = 60 – Q Consumer 2: P2

= 100 – Q Consumer 3: P3 = 140 – Q where Q measures the number of units of the good and P is the price in dollars. Now the marginal cost of the public good is $ 60 . What is the economically efficient level of production of the good?
Business
1 answer:
sergejj [24]3 years ago
4 0

Answer:

80

Explanation:

To get the economically efficient level of production of the good, we will sum up the demand for consumers and equate them to the marginal cost of the public good.

Note that the economically efficient level of output occurs where MSB = MC on the graph. Therefore, since MSB = MC occurs where all the three consumers are in the market, then we'll have;

(60-Q) + (100-Q) + (140-Q) = 60

Expand the brackets

60-Q+100-Q+140-Q = 60

Collect like terms and sum up

300-3Q = 60

3Q = 300-60

3Q = 240

Q = 80

Therefore, the economically efficient level of the production of the good is 80

You might be interested in
A purchasing consortium:
zzz [600]

Answer:

a. consists of two or more independent organizations that combine their requirements for materials, services and capital goods to gain better pricing, service and technology from suppliers.

Explanation:

A purchasing consortium consists of two or more independent organizations that combine their requirements for materials, services and capital goods to gain better pricing, service and technology from suppliers. It is also known as group purchasing organization or cooperative purchasing and typically comprises of organizations sharing similar purchasing requirements or needs coming together in order to enhance their purchasing or bargaining power (capabilities) in the market.

The main purpose of a purchasing consortium is to provide a leverage for two or more independent organizations by reducing their purchasing costs when acquiring resources or materials required for the smooth operation of their business.

4 0
3 years ago
Your large firm is about to change to a customer centered organization structure in which employees who have rarely had customer
nevsk [136]

Answer:

a sample from workers who had contact with the customers already

7 0
3 years ago
Tile & Grout (T&G) contracts to resurface the insides of the pools at WaterWorld Park. T&G knows that without the re
Pavel [41]

Answer:

The answer is Letter C

Explanation:

Water World can recover the loss of profit from the delayed opening.

4 0
3 years ago
Wilson states, "Culture is important to me. Our culture is based on accountability, camaraderie, and results. I’ve moved from fi
Snowcat [4.5K]

Answer:

Self nurturing

Explanation:

Self nurturing refers to teaching oneself and to learn along a period owing to the projects one undertakes. This means experience and knowledge attained over time by an individual. Such knowledge is acquired by an individual on his own.

Self nurturing entrepreneurs are those entrepreneurs who have immense self belief and who back their views and business ideas.

In the given case, Wilson has learnt from his experiences, the importance of organizational culture and what it stands for. Here Wilson depicts the trait of learning along on his own and being self taught. This displays the attribute of self nurturing.

6 0
3 years ago
Coursework beyond that of a bachelor's degree is known as interdisciplinary.<br><br> True<br> False
Marysya12 [62]

Answer:

false

Explanation:

6 0
3 years ago
Other questions:
  • Charley has a typing service. he estimates that a new computer will result in increased cash inflow $1,600 in year 1, $2,000 in
    10·1 answer
  • The FHA was designed to pay off mortgage insurance for homes that were going into foreclosure.
    7·1 answer
  • A labor contract provides for a first-year wage of $15 per hour, and specifies that the real wage will rise by 2 percent in the
    10·1 answer
  • In 2018, DFS Medical Supply collected rent revenue for 2019 tenant occupancy. For income tax reporting, the rent is taxed when c
    5·1 answer
  • Price ceilings are often established in order to
    7·1 answer
  • Heidi purchases an original work by one of her favorite sculptors
    7·1 answer
  • Store Policies that are open to interpretation by store employees
    5·1 answer
  • Burich Company reported short-term borrowings of $4.00 million, long-term borrowings of $6.95 million, repayments of long-term b
    5·1 answer
  • Which of the following is an Internet job search “don’t”?
    15·1 answer
  • if firms are producing at a profit-maximizing level of output where the price is equal to the average total cost
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!