Question : 31) The figure above shows the marginal cost and marginal : 1238676

 

31) The figure above shows the marginal cost and marginal benefit of police protection in the city of Hugo, Oklahoma. Police protection is a public good. The efficient number of officers that should be hired by the city of Hugo is

A) 15.

B) 25.

C) 10.

D) 0.

E) More than 25 because MB > $0 when 25 officers are hired.

 

32) Because national defense is potentially subject to free riding, a private sector market for national defense would lead to

A) the efficient amount of national defense if there is free riding.

B) more than the efficient amount being produced if there is free riding.

C) less than the efficient amount being produced if there is free riding.

D) less than the efficient amount being produced if there is not free riding.

E) None of the above answers is correct.

33) The free-rider problem for a public good means that

A) a private market would provide less than the efficient amount of the good.

B) a private market would provide more than the efficient amount of the good.

C) the good is rival.

D) the good is excludable.

E) a private market would provide the efficient amount of the good.

 

34) For any individual consumer, free-riding is

A) common for private goods.

B) rational.

C) irrational.

D) impossible for public goods.

E) the same as paying a fair price for the good.

 

35) A private, competitive market

A) provides the efficient quantity of a public good.

B) allocates too few resources for a public good.

C) allocates too many resources for a public good.

D) can be relied upon to allocate resources efficiently both for private and public goods.

E) will allocate too many resources for a public good only if free riding occurs.

36) Why are private firms unable to produce public goods?

A) Because the government outlaws private firms from producing them.

B) The marginal cost of production is too high for private production to be possible.

C) They can produce these goods, but they would not earn any revenue because of the free-rider problem.

D) The tragedy of the commons means that private firms produce an inefficient amount of public goods.

E) None of the above answers is correct.

 

37) The principle of minimum differentiation describes a tendency of competitors to

A) lower price.

B) offer similar products or policies.

C) decrease the quantity of goods available.

D) offer public goods for sale.

E) free ride.

 

38) Which of the following describes the principle of minimum differentiation?

A) competitors becoming identical to appeal to the largest number of clients or voters

B) minimizing the difference between marginal benefit and marginal cost

C) voters becoming highly informed to elect the best candidate

D) bureaucrats providing the most efficient level of pubic goods provision

E) minimizing the amount of free riding that occurs

39) The tendency of political parties to propose identical policies which appeal to the maximum number of voters is referred to as the principle of

A) maximum differentiation.

B) minimum differentiation.

C) minimum marginal utility.

D) maximum returns.

E) agreement.

 

40) In politics, the principle of minimum differentiation is the tendency toward

A) identical policies to appeal to a minimum number of people.

B) different policies to appeal to a maximum number of people.

C) identical policies to appeal to a maximum number of people.

D) different policies to appeal to a minimum number of people.

E) a minimum number of policies in order to appeal to a maximum number of people.

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more