What would be the level of x according to majority rule, Microeconomics

+44 141 628 6080
[email protected]

What would be the level of x according to majority rule

Problem

A collectivity consists of three persons, A, B, C. Demand for some collectively provided service, x, being for person A, P = 40/x; for person B, P = 20/x; and for person C, p = 10/x. The marginal cost is 10.

(i). What is the SMB (social marginal benefit) function/curve for this community?

(ii) What would be the socially efficient level of x according to the Benefit principle or Samuelson condition?

(iii) What would be the level of x according to majority rule with equal head tax?

Ideal point for each voter is

(iv) Did the majority rule in democracy produces efficient amount of public good?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: What would be the level of x according to majority rule

Reference No:- TGS02946728

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Microeconomics

Q : Calculate a cost function from a production function

Calculate a cost function from a production function and explain how economic costs differ from accounting costs.

Q : Calculate input demand and the cost-minimizing combination

Calculate input demand and the cost-minimizing combination of inputs and isoquant analysis to illustrate optimal input substitution.

Q : What happens to multiplier as a country imports a proportion

Calculate the multiplier for the following cases. What happens to the multiplier as a country imports a larger proportion of its income?

Q : What is the calculation of the value of the firm

What is the calculation of the value of the firm at the perpetuity if givin at the question that the net income profits is $261,250 with flat interest rate 8%?

Q : What would be the level of x according to majority rule

What is the SMB (social marginal benefit) function/curve for this community? What would be the level of x according to majority rule with equal head tax?

Q : What each category of value measures and provide an example

Explain what each category of value measures and provide an example of each. Which could best value each category and very briefly justify its use.

Q : What type of project would you expect to see in product plan

How do these products support the corporate strategy? What types of projects would you expect to see in the product plan?

Q : Calculate the cournot prices and quantities

Calculate the Cournot Prices and quantities Q1 Q2 Qc Pc Pi1c and Pi2c. Calculate the Stackelberg prices and quantities Q1sQ2s Qs Ps Pi1s Pi2s.

Q : What is the pareto efficient level of the lighthouse service

What is the Pareto efficient level of the lighthouse service? Among the three individuals, who would vote for the project of community lighthouse?

1953694

Questions
Asked

3,689

Active Tutors

1453660

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Discuss statements about sociological approaches

Question: Which of the following statements about sociological approaches are true?

Discussion about cultural appropriation

This week watch the 3 short video clips below about cultural appropriation. These videos will redefine terms like cultural appropriation

How the major schools of thought within sociology

Question: Discover how the major schools of thought within sociology explain social stratification.

Compare critical feminist theory and power-control theory

Compose a paper that compares and contrasts critical feminist theory and power-control theory as forms of gendered criminology. Your paper should:

How are schools important in the struggle for power

Question: How are schools important in the struggle for power and status?

How coastlines are vulnerable to multiple climate change

Even though are coastlines are very vulnerable to multiple climate change impacts, the good news is that because most of our urban settlements

Review the real-life cat and mouse chase

Real-Life Cat and Mouse Chase: Understanding the Perceptions and Attitudes of Street Vendors of Metro Manila towards MMDA Regulation No. 03-004