Answer:
Efficiency requires that one lighthouse is built since the willingness to pay of all the residents together is larger than the cost of providing the lighthouse
Explanation:
Since the lighthouse is a public good, according to the coase theorem, if the combined willingness to pay for the lighthouse of all of the people living on the islands is higher than the cost of the lighthouse, then a lighthouse should be built.
The total willingness to pay is:
The population willingness to pay is higher than the cost of building one lighthouse ($2000) but lower than the cost of building two lighthouses ($4000). Therefore, efficiency requires that one lighthouse is built since the willingness to pay of all the residents together is larger than the cost of providing the lighthouse.
Answer
Professional ethics and code of conduct regulation
Explanation:
California Professional code of conduct for insurance agent does not permit unethical placement, as the regulator view such as fraudulent practices.
Economy comes from the Greek words household and manage which basically mean a are where production , distribution , or trade and consumption of goods and services by different agencies in a given location.
Answer:
16,000
Explanation:
The amount of inventory to be produced is dependent on the projected sales, the expected opening and ending balances.
If the company desires to have an ending inventory of 80% of the next month's sales. It means that the ending inventory for August
= 80% × 15,000
= 12,000 units
Let the units to be produced in August be G, then;
8000 + G - 12000 = 12000
G = 12000 + 12000 - 8000
= 16000 units
The company should produce 16,000 units in August.
<span>D is the correct answer. The business benefits because the owners can share responsibilities, in most cases. However, some people may be silent partners - for example, they may invest in a business, but not have any say in how it is run.</span>
