I don't have the last answer, but here are the rest of them
<span>1. </span><span>What economic question(s) does this case
require the town to ask? (2 points) </span>
<span>a.
</span>Should
the dog park be built?
<span>b.
</span>Should
the schools be expanded?
<span>c.
</span>Should
the land be sold to the man who wants to build luxury homes?
<span>2. </span>List the possible resources that the town would need to construct
and maintain the park. (2 points)
<span>a.
</span>Fencing.
<span>b.
</span>Waste
bag dispensers
<span>c.
</span>Playground-like
area
<span>3. </span>What town resource(s) are scarce? (1 points)
<span>a.
</span><span>money </span>
<span>b.
</span>material
<span>4. </span>Who will be the consumers using this public good<span>? (2 points) </span>
<span>a.
</span>The
public who own dogs
<span>b.
</span>7,000
registered dogs
<span>c.
</span>Unknown
amount of unregistered dogs.
<span>5. </span>What is the opportunity cost <span>of
building this park? Explain. (5 points) </span>
<span>6. </span>Identify at least one pro and one con
for each of the following options: (5 points)
<span>a. </span><span>leaving the land undeveloped </span>
<span>b. </span><span>selling the land to real estate
developers to build homes </span>
<span>7. </span>What, if any, market failures might exist in this town? Explain. (3
points)
<span>a.
</span><span> What if the dog park is built, and is unused?</span>
<span>b.
</span><span>What
if the land is sold to build luxury homes, and they are too expensive to be bought/rented?</span>
<span>c.
</span>What
if the school is expanded, and isn’t filled?
<span>d.
</span>
<span>8. </span>Create a chart that identifies the positive and negative externalities <span>of building the park. Explain the effect of each externality.
(Hint: You may use the charts on pp. </span>
64−65 as a guideline.) (6 points)
<span>
<span><span>
<span>
Pro’s
</span>
<span>
Con’s
</span>
</span>
<span>
<span>
The dog park offers
space for dogs.
</span>
<span>
What if land is wasted?
</span>
</span>
<span>
<span>
Gives dog owners a space of their own
to interact with their pets.
</span>
<span>
What if the luxury homes deal was
better?
</span>
</span>
<span>
<span>
Having the extra park
space will make the town to be more family and pet friendly.
</span>
<span>
What about the cost to build it?
</span>
</span>
<span>
<span>
Could attract more
families, along with their dogs.
</span>
<span>
Money for school expansion will be
lost.
</span>
</span>
</span></span>
<span>9. </span>How could the town government counteract
the negative
externalities<span>? (3
points) </span>
<span>a.
</span><span>The
building of the park will be used by over 7,000 registered dogs and their
owners, and that means that there will be much money made.</span>
