Note: use of chat gpt is strictly prohibited.. please draw me the graph if possible. Picking a Quality Level Suppose dwelling quality is measured on ascale of 1 to 10, and the monthly cost of producing a particular quality equals the square of the qualitylevel: For quality level 1, the cost is $1; for quality level 2, the cost is $4, and so on. The monthly rentequals the price per unit of quality4. Picking a Quality LevelSuppose dwelling quality is measured on a scale of 1 to 10, and the monthly costof producing a particular quality equals the square of the quality level: For qualitylevel 1, the cost is $1; for quality level 2, the cost is $4, and so on. The monthlyrent equals the price per unit of quality (P = $9) times the quality level.Total revenueTotal costQuality of dwellingMarginal costMarginal revenueQuality of dwellingOwner's objective is to maximize profit, the gap between total revenue and totalcost. Profit is maximized at the quality level where the marginal benefit (the priceof quality) equals the marginal cost: q*.a. Use a two-panel graph as the above figure to show the profit-maximizingquality level.b. At the profit maximizing quantity ofmarginal cost equals

Here is the two-panel graph based on the information provided:Left Panel: It shows the Total Cost…

Answered: please draw me the graph if possible.…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter17: Income, Poverty, And Health Care

Section: Chapter Questions

Problem 8P

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Suppose the administration of a University that is located a high-crime urban area mustdecide on a policy to increase policing on its campus. The student population is 10,500 students but iscould increase if crime is reduced. The cost of added policing in terms of additional salary and equipmentis estimated to be $2.4 million per year. Suppose the administration plans to make their decision with thehelp of a benefit cost analysis of the policy. VSL is $11.8 million a. Explain how the concept of Value of a Statistical Life might factor into a benefit cost analysis of thispolicy. b. How many lives would need to be save to justify the added policing costs if only prevented deathswere considered as the policy benefit? c. Suppose it is believed that student enrollment will increase in the future if crime on campus is reduced.Write a formula to calculate the present value of benefits of policing if student enrollment increases by4% each year.
Please no written by hand Suppose all workers have the same preferences represented by U = (sqroot)w - 2x , where w is the wage and x is the proportion of the firm’s air that is composed of toxic pollutants. There are only two types of jobs in the economy, a clean job (x = 0) and a dirty job (x = 1). Let w0 be the wage paid by the clean job and w1 be the wage paid for doing the dirty job. If the clean job pays $16 per hour, what is the wage in dirty jobs? What is the compensating wage differential?
Suppose all workers have the same preferences represented byU = √w - 2xwhere w is the wage and x is the proportion of the firm’s air that is composed of toxic pollutants. There are only two types of jobs in the economy: a clean job ( x = 0) and a dirty job ( x =1). Let w0 be the wage paid by the clean job and w1 be the wage paid for doing the dirty job. If the clean job pays $16 per hour, what is the wage in dirty jobs?What is the compensating wage differential?
Suppose a new employer is also relocatingto Lampard City and will be attractingmany new people who will want to buynew houses. Assume that the change in licensing requirements mentioned in Ques-tion 7 occurs at the same time. What do you think will happen to the equilibriumquantity of new homes bought and sold inLampard City?a. It will decrease substantially.b. It will decrease but not by much.c. It will increase.d. Not enough information.
indicate whether you think the statement is true or false andexplain why. 15. The discounted rate is usually positive.16. When constant marginal cost > 0, marginal net benefit (P-MC) increases at the rate ofinterest.17. Hotelling’s rule states that the dynamically efficient allocation occurs when the presentvalue of the marginal net benefit for the last unit produced is equal across time periods.18. Monopolist over-converse resources from a dynamic efficiency perspective.19. When the growth rate in demand exceeds the discount rate, the efficient outcome in acompetitive industry will result in a larger amount of oil available for the future period thanthe current period.20. Biofuels are a back-stop technology for oil and would cause more present production ofoil
Ali Receives Utility From (D)omestic Vaccines from Kayseri, and the Sinovac Vaccine-(F)oreign. The utility structure is U(D,F)=D x F. The price of the foreign vaccine because of increasing returns to scale is $200, whereas at its earlier stages, the domestic vaccine is produced at a higher cost, and higher price of $250. The government has given each and every citizen a fixed payment of $8000 to spend just on vaccines, but it has not specified which vaccines. a- Does Ali Solve the Utility Maximization Question in an interior equilibrium or a corner solution? How do you know? What condition does the interior equilibrium necessitate regardless. b- Find Ali's Utility Maximizing Level of Domestic and Foreign Vaccines when he uses just the government allowance on vaccines? What is his utility level? C- Suppose the government wants to decrease Turkey's health exports. It pushes a vaccine subsidy, just for domestic vaccines that makes the price of domestic equal to $160. How does the utility…
why is the market for recycled aluminium good and the market for plastic bad in the US? Depict this with a firm input choice model. I understand that recycled plastic decreases in qualiy everytime it is recycled while aluminium does not and can be recylced without the decrease in quality, but I dont know how to depict this graphically
/Suppose that an individual's demand curve for doc-tor visits per year is given by the equation P = 100- 25Q, where Q is the number of doctor visits peryear and P is the price per visit. Suppose also thatthe marginal cost of each doctor visit is $50.a. How many visits per year would be efficient?What is the total cost of the efficient numberof visits?b. Suppose that the individual obtains insur-ance. There is no deductible, and the coin-surance rate is 50 percent. How many visitsto the doctor will occur now? What are theindividual's out-of-pocket costs? How muchdoes the insurance company pay for this individual's doctors' visits?c. What is the deadweight loss (if any) causedby this insurance policy?
Fill in the Blank Question Suppose that when the price of apples is 25 cents each, there are to formers who each supply 600 apples per day, and 2 famers who each suppy 1,000 apples per day. Thus, when the price of apples is 25 cents, the market supply of apples it per doy. Need help? Review these concept resources. [I. Read About the Concept Rate your confidence to submit your answer. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
a. Draw the wage-schooling locus for someone for whom the returns to schooling decrease through college but increase after college. (Assume college is completed after 16 years of schooling and that one can receive at most 6 years of postcollege schooling.) b. On a new graph, plot the marginal rate of return to schooling implied by the wage-schooling locus described in part a. c. What can be said about a college graduate who faces the wage-schooling locus described in part a?
In 2006, the Australian Government incorporated research into corporate social responsibilities to determineif there is a need to include social and environmental responsibilities within the Corporation Act throughamendment procedure. It was decided not to incorporate a particular regulation through legislation, insteadrely upon the 'market forces' to encourage companies to do the 'right thing'. This viewpoint was expressedthat if companies did not look after the environment or did not act in a socially responsible manner, peoplewould not want to consume the organisations' products. From the equity market perspective, potentialinvestors would not want to invest in the organisations, and further workers wouldn't want to work for them,and so forth. Because companies were aware of such market forces, they would do the 'right thing' even inthe absence of legislation.Requirement:1) Using theories such as Public Interest Theory, Capture Theory and Economic Interest Group Theoryto critically…
1. Suppose a new drug was discovered that slowed the deterioration of health that accompanies aging. (All the graphs you draw should include labels, down and right arrows to indicate the changes before and after the new drug were discovered) a. What's the effect on the available time for work Tw and play Tz? Draw its labor–leisure graph including both budget constraints and indifference curve. b. What's the effect on optimal health H* ? Draw its marginal efficiency of capital (MEC) curve. c. Draw the production possibilities frontier. Explain it.

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