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Effectus [21]
3 years ago
6

Two towns, each with three members, are deciding whether to put on a fireworks display to celebrate the new year. fireworks cost

$300. in each town, some people enjoy fireworks more than others. in the town of bayport, each of the residents values the public good as follows:
Business
2 answers:
Burka [1]3 years ago
3 0
1) Town of Bayport:
We have that the residents value the fireworks at a total of 50+100+300=450$. That is the utility they gain. But they would also have to pay 360$ for the fireworks. The total outcome is 450$+(-360$)=90$. Hence, the outcome is positive and the fireworks pass the cost benefit analysis.

If the fireworks' cost is to be split equally, we have that each of the 3 residents has to pay 360/3=120$. Let us now do the cost-benefit analysis for everyone.
Jacques stands to gain 50$ from the fireworks but would have to pay 120$. He will vote against it.
Also, Kyoko will gain 100$ but would have to pay 120$. He will lose utility/money from this so he will vote against.
Musashi on the other hand, would gain 300$ and only pay 120$. He is largely  benefitted by this measure. Only he would

We have that 2 out of the 3 would vote against the fireworks, so that the fireworks will not be bought. The vote does not yield the same answer as the benefit-cost analysis.

2) Town of River Heights:

We have that the total value of the fireworks to the community is 20+140+160=320$. The total value of the fireworks is lower than their cost so their cost benefit analysis yields that they should not be bought.

However, let's see what each resident says. The cost to each resident is 360/3=120$. Rina is against the fireworks since she will only gain 20$. Sean and Yvette are for the fireworks since they gain 140$ and 160$ respectively, which are larger than the cost of the fireworks to each of them (120$). Hence, 2 will vote for the fireworks and one will vote against and fireworks will be bought.

Again, the vote clashes with the cost-benefit analysis.

3) The first choice is wrong. It is very difficult for a government to provide the exact types of public goods that everyone wants because that would be too costly; one cannot have a public good that everyone pays for so that only a couple of people enjoy it. In our example, we saw that in every case, a public good and its production would have sime supporters and some adversaries.

Majority rule is not always the most efficient way to decide public goods; as we have seen in the second case, the cost-benefit analysis yields that the fireworks are not worth it but they are approved by the majority nonetheless.

The final sentence is correct. The differing preferences of the people make a clearcut choice impossible and the government has to take into account various tradeoffs and compromises in order to determine which public goods to provide.
irinina [24]3 years ago
3 0

Answer: The final sentence is correct.

1) Town of Bayport:

We have that the residents value the fireworks at a total of 50+100+300=$450.

They would also have to pay 360$ for the fireworks. The total outcome is $450 - $360 = $90. So, the outcome is positive and the fireworks pass the cost benefit.

To split the cost of fireworks equally, we have that each of the 3 residents has to pay  

360/3=$120.  

For the individual person,

Jacques stands to gain $50 from the fireworks but would have to pay $120. He will vote against it.  

Also, Kyoko will gain $100 but would have to pay $120.  

As a result, he will vote against.  

Musashi on the other hand, would have a profit of $300 and only pay $120.  

So, he will vote for it

We have that 2 out of the 3 would vote against the fireworks, so that the fireworks will not be bought.  

2) Town of River Heights:

We have that the total value of the fireworks to the community of

20+140+160=$320.  

The total value of the firework are lower than the cost so it will not be voted for  

For each resident:

The cost to 3 resident is 360/3=$120 each

Rina is against the fireworks since she will only gain $20.

Sean and are for the fireworks since he wil gain $140  

Yvette’s cost for the fireworks since she will gain $$160

For Sean and Yvette they  will vote for the fireworks because they ave a profit greater than $120 and one will vote against and fireworks will be bought.


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I am Lyosha [343]

Answer:

Explanation:

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3 0
3 years ago
_____ contracts involve payment to the supplier for direct and indirect actual costs and often include fees.
mojhsa [17]

Cost-reimbursable contracts involve payment to the supplier for direct and indirect actual costs and often include fees.

A cost-reimbursable contract is an agreement between two parties called the contractor and the owner. Here the contractor gets the reimbursement for the cost incurred while carrying out the work as per the contract, and also gets an additional fixed fee from the company or an owner.

Here the final pricing of the contract is determined later based on the underlying deal and the actual costs it took to complete a project given to the contractor.

Hence, cost-reimbursable contracts involve payment for direct and indirect actual costs.

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7 0
1 year ago
All of the following statements about decision style are true EXCEPTA) autocratic styles are authority-based.B) decision styles
notka56 [123]

Answer:

B. decision styles are consistent among top managers

Explanation:

Decision making styles differ between managers.  Many managers exercise autocratic style which is authoritative wherein very limited inputs from the subordinates are taken and there is little scope for constructive advises.

In heuristic style, the strategies help managers to take clear cut decisions in a prompt manner. In such a form, decisions are arrived at quickly.

Managerial decision making methods differ from manager to manager and are an outcome of managers own judgement and demeanor.

Hence it is evident from above points that decision styles are not consistent among top managers.

5 0
3 years ago
Shocker Associates sold office equipment for cash of $162,000. The accumulated depreciation at date of sale amounted to $123,000
siniylev [52]

Answer:

Original Cost of asset = $269,000

Explanation:

Provided information,

We have been provided that selling value of equipment = $162,000

Gain recognized on sale = $16,000

Gain = Selling price - Book Value

$16,000 = $162,000 - Book Value

Book Value = $162,000 - $16,000 = $146,000

Accumulated Depreciation = $123,000

Book Value = Original Cost - Accumulated Depreciation

$146,000 = Original cost - $123,000

$146,000 + $123,000 = Original Cost = $269,000

8 0
3 years ago
Sassy Company sells its widgets for $20 each. Its variable cost is $12 per widget. Fixed costs are $150,000 per month for volume
disa [49]

Answer:

$440,000

Explanation:

Sassy Company budgeted operating income

Operating income will be :

(20-12) $80,000 - $200,000

=8×$80,000-$200,000

=$640,000-$200,000

=$440,000

Therefore the budgeted operating income at a level of 80,000 widgets per month will be $440,000

7 0
3 years ago
Read 2 more answers
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