2. (15 points) In the episode, The One with the Tea Leaves, Chandler moves in with...

 

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2. (15 points) In the episode, The One with the Tea Leaves, Chandler moves in with Monica, Monica finds out Chandler has two identical copies of the 1982 hit Broadway musical, Annie. Chandler loves humming songs from the musical every chance he gets, his favorite being, Impossible. It irritates Monica because Annie is her least favorite musical. She's likes Cats better. (a) Represent this situation using a graph. Show efficient consumption of Annie music and situation when Chandler hums as many musical songs as he wants. (b) Suppose that there are no legal restrictions on singing Broadway musical songs and Chandler has a right to sing Broadway songs as loud as fie wants and as much as he wants. Monica approaches Chandler with an offer to pay money for reducing the number of hours of the singing. Will negotiations achieve efficient outcome? Explain. (c) Suppose Monica has a right to quiet environment. This means that singing Broadway music is legal, but Monica has a right to prohibit Chandler from singing these songs loudly any time. Suppose Chandler approaches Monica with an offer to compensate Monica for each hour of singing. Will negotiations reach efficient outcome? Explain. 2. (15 points) In the episode, The One with the Tea Leaves, Chandler moves in with Monica, Monica finds out Chandler has two identical copies of the 1982 hit Broadway musical, Annie. Chandler loves humming songs from the musical every chance he gets, his favorite being, Impossible. It irritates Monica because Annie is her least favorite musical. She's likes Cats better. (a) Represent this situation using a graph. Show efficient consumption of Annie music and situation when Chandler hums as many musical songs as he wants. (b) Suppose that there are no legal restrictions on singing Broadway musical songs and Chandler has a right to sing Broadway songs as loud as fie wants and as much as he wants. Monica approaches Chandler with an offer to pay money for reducing the number of hours of the singing. Will negotiations achieve efficient outcome? Explain. (c) Suppose Monica has a right to quiet environment. This means that singing Broadway music is legal, but Monica has a right to prohibit Chandler from singing these songs loudly any time. Suppose Chandler approaches Monica with an offer to compensate Monica for each hour of singing. Will negotiations reach efficient outcome? Explain.

Answer rating: 100% (QA)

ANSWER The above situation can be analysed from the given graph where Monica does not like that Chan... View the full answer