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Author Question: The graph shows costs and benefits of a mosquito control program, which is a public good: a) What ... (Read 71 times)

Cooldude101

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on: Jun 29, 2018
The graph shows costs and benefits of a mosquito control program, which is a public good:
 
  a) What is the quantity of spraying that achieves efficiency?
  b) What is the political equilibrium if voters are well informed?

Question 2

Does Mr. McConaughey's marginal utility from spending time with family and friends and from breaking a sweat obey the principle of diminishing marginal utility?
 
  A) No, neither obeys the principle of diminishing marginal utility.
  B) Only breaking a sweat obeys the principle of diminishing marginal utility.
  C) Yes, they both obey the principle of diminishing marginal utility.
  D) Only spending time with friends and family obeys the principle of diminishing marginal utility.


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underwood14

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Reply #1 on: Jun 29, 2018
Answer to Question 1

a) Efficiency is reached at the quantity where marginal social benefit equals marginal social cost, i.e. at 5 square miles per day.
b) If voters are well informed, the political equilibrium will be the efficient quantity of spraying, 5 square miles per day.

Answer to Question 2

C


Cooldude101

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Liddy

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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