Figure 18P-4 shows supply and demand for first-aid training, based on private costs and benefits. a. Suppose
Question:
a. Suppose that the external benefit from first-aid training is worth $6. Graph the demand curve for first-aid training based on the social benefits.
b. How many hours of first-aid training will occur?
c. What is the socially optimal quantity of first-aid training?
d. How much surplus is lost when consumers are unable to capture the $6 external benefit they provide from first-aid training?
Transcribed Image Text:
Price (S 24 0 2 4 6 10 12 14 16 18 20 22 24 Hours of first-aid training
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (21 reviews)
a See graph below b 10 hours of first aid training will occur c The socially opti...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Figure 18P-3 shows supply and demand for first-aid training, based on private costs and benefits. a. Suppose that the external benefit from first-aid training is worth $6. Graph the social benefit...
-
Figure 18P-4 shows supply and demand for planting trees, based on private costs and benefits. Trees sequester carbon, meaning that they help counteract pollutants that contribute to climate change....
-
Figure 18P-3 shows supply and demand for planting trees, based on private costs and benefits. Trees sequester carbon, meaning that they help counter-act pollutants that contribute to climate change....
-
If you were able to dictate economic policy, how would you strengthen the automatic stabilizers in this country? Why would your solutions work?
-
A bottled water distributor wants to estimate the amount of water contained in 1 gallon bottles purchased from a nationally known water bottling company. The water bottling companys specifications...
-
Green Thumb operates a commercial plant nursery where it propagates plants for garden centers throughout the region. Green Thumb has $ 4,800,000 in as-sets. Its yearly fixed costs are $ 600,000, and...
-
Stability of flow in torsional flow. Taylor determined the critical speed of rotation for flow between concentric cylinders with the inner cylinder rotating. The transition is characterized by a...
-
REPCO performs warranty repair work for name-brand kitchen appliances. REPCO bills appliance manufacturers on a costplus basis. It has a job-costing system that computes the cost of each order by...
-
At the end of the accounting period, Harris Company had $6,000 of par value common stock issued, additional paid in capital of $5,500, retained earnings of $6,000, and $2,000 of treasury stock. What...
-
A random sample of n = 80 measurements is drawn from a binomial population with probability of success .3. a. Give the mean and standard deviation of the sampling distribution of the sample...
-
Figure 18P-2 shows the marginal private benefit to a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates a gallon of salty runoff...
-
The local government has decided that because childrens health has large external benefits, it will offer a subsidy to help families pay for visits to the pediatrician. However, the government isnt...
-
Suppose that we hash a string of r characters into m slots by treating it as a radix-128 number and then using the division method. We can easily represent the number m as a 32-bit computer word, but...
-
The following is the account of cash transactions of the Nari Kalayan Samittee for the year ended December 31, 2006: Receipts Amount Rs Payments Amount Rs Balance from last year 2,270 Rent 6,600...
-
JaCo uses the periodic method. Its begging inventory is $43,000, purchases are $321,000, FOB destination, purchase returns are $ 17,000,and freight is $ 9,000. The balance in JaCo's ledger Purchases...
-
At the end of the current year, Singleton Inc. reported the following information: Sales $230,000 Operating income 55,400 Average total assets 454,000 Average stockholders' equity 242,000 Compute the...
-
Sonata Company has no investment opportunities. It expects to earn cash earnings per share of Rs 10 perpetually and distribute entire earnings as dividends to shareholders.( a ) What is the value of...
-
Brenda Callaway wants to borrow to purchase some new appliances. The bank offered her a $1.000 loan at 8% simple interest and an upfront service charge of $35. If she Is required to pay the entire...
-
In Exercises 1140, find both first partial derivatives. Z || 2y 3y X
-
A manufacturer can sell product 1 at a profit of $20 per unit and product 2 at a profit of $40 per unit. Three units of raw material are needed to manufacture one unit of product 1, and six units of...
-
1. Arrows up or down: At a natural monopolist s current level of output, marginal cost exceeds marginal revenue. The firm should ______ its output and _______ its price. 2. The entry of a second firm...
-
1. Arrows up or down: At a natural monopolist s current level of output, marginal cost exceeds marginal revenue. The firm should ______ its output and _______ its price. 2. The entry of a second firm...
-
1. Arrows up or down: At a natural monopolist s current level of output, marginal cost exceeds marginal revenue. The firm should ______ its output and _______ its price. 2. The entry of a second firm...
-
Factory overhead of $44,700 consists of Indirect labor of $21,900, Depreciation expense-Factory of $16,900, and Factory utilities of $5,900. a. Compute total manufacturing costs. b. Prepare a...
-
In Giannakakos et al. (2016), titled Using Video Modeling with voiceover Instruction plus feedback to train staff to implement direct teaching procedures, why do you think collecting data on the...
-
Presidio, Inc., produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidios cost data table. 2. Calculate Presidios contribution margin ratio and...
Study smarter with the SolutionInn App