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3.17-BEQuestion HelpTra: Matenz Cornnanyhauls Orav0 constnuclion ste usino amallnick accompanyino Targe Iruck. The catying capacity and cperating cost per bbad are ...

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3.17-BEQuestion HelpTra: Matenz Cornnanyhauls Orav0 constnuclion ste usino amallnick accompanyino Targe Iruck. The catying capacity and cperating cost per bbad are givcn table- Tina must deliver MimiMum cublc yards per day Ihattola salisly ier contract with the builder The unicv conbract with her numaat loads cen davi; MinlMumn Urivers requlres that Man Duds shcula Mane Incx Der day Miniize Ine total cost? Small Truck Largu Truck Capacity (yd" ) Cost per Loroenrminimize Ihu total cost, Ihc

3.17-BE Question Help Tra: Matenz Cornnanyhauls Orav0 constnuclion ste usino amallnick accompanyino Targe Iruck. The catying capacity and cperating cost per bbad are givcn table- Tina must deliver MimiMum cublc yards per day Ihattola salisly ier contract with the builder The unicv conbract with her numaat loads cen davi; MinlMumn Urivers requlres that Man Duds shcula Mane Incx Der day Miniize Ine total cost? Small Truck Largu Truck Capacity (yd" ) Cost per Loro enr minimize Ihu total cost, Ihc number Ipads tnuck Ihalt shou & Inado and Ina numberolond: lxgge [ruck Inaiehena made



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Use the following table to work.The first two columns of the table show the demand schedule for electricity from a coal burning utility; the second and third columns show the utility's cost of producing electricity. The marginal external cost of the pollution created equals the marginal cost. If the government levies a pollution tax such that the utility produces the efficient quantity, what is the price of electricity, the tax levied, and the government's tax revenue per day?

In this question. We've been told that pro painters hire students at great dollars to 50 per week. It's the reach for each student is dollars to 50 and the rent for the equipment, the lease. So that is $500. So I'm just gonna right rent equals $500. Yeah. No, we're being us to calculate the total cost, the average total cost and the marginal cost when the output is 12. No window. Put this thrill. The number of students hired us four. So the video will cost becomes four times the wage rate, which is to $50. So that is the very able cost. This becomes $1000. What is the total fixed cost? The total fixed cost is basically the rent for the equipment or the lease. That would be dollar 500. That's 500. So what is the total cost? Total cost is the sum off these two, so total cost becomes the sum of variable and fixed costs. So that's 1000. Those 500 which is $1500. Mhm. No. What are we ask next? The next thing we're supposed to calculated is the average total cost. So the average total cost is basically the total cost divided by the output units. So that's $1500 average Goto cost would be $1500 divided by the output, which is 12. And this comes to $125. What now? What is the marginal cost for 12 units? As you can see here, the fixed costs remains the same. So the only thing that changes when the output rises from 9 to 10 is the cost that's paid to students. So the variable cost So the change is dollars to 50 for two units. So delta cost, which is the change in cost when the output changes from 9 to 12 is to $50. So what is the marginal cost of the 12th off the 10th unit? The marginal cost for the 10th unit will be $250 divided by three, which would be $83.33. Now, what is the marginal cost? So this is the marginal cost for the 10th unit. I'm going to write marginal cost for 10 now. What is the marginal cost of 13th unit? The marginal cost for the 13th unit becomes $250 divided by two, which is 1 $25. Now we have the marginal cost for the 10th unit on the marginal cost for the 13th unit. So what is the marginal cost for the wealthy unit? The marginal cost. When the output is 12, the marginal cost for the 12th unit becomes dollars 108 point treaty. So $108.33 here is the marginal cost for it. Wealth unit. Now, the last thing that were asked the last thing that were asked is that what output is average? Total boss is a minimum? No, as you can see, the marginal cost for the 12. The unit is $108.33. The marginal cost for the 13th unit is 1 $25. Also, you can also look at the output table here and see that increasing output when labor is increased by one. Is magazine here between nine and 12. It's three. After that, it goes down. That means that the point at which sorry that means the output at which the average total cost is a minimum is the 12th unit. So the output with minimum average total cost with minimum average total cost is 12 units. And what is the average total cost? At that point, that is dollar 125. That is our answer.

So we have a fence that they need to build. And we know that the corner of this triangular lot as a 65 degree angle and we know that this side is supposed to be 150 ft and we'll make this one go a little longer. And this one's supposed to be 200 ft, and then our fence is going to go right along here. And so we'll call that acts and we have side angle side. So we want law co signs. So we know that X squared equal. The We have a side on two sides and included angle. So we need to take one of the sides squared, plus the other side squared minus two times the product of those sides times the cosine of the included angle. And we have to make sure we're in degree mode, and then we will square root that answer. And when we do that, we get X is 192.725 ft. So they ask your instructor what your instructor wants to round off, too, because you could call it 192.7 ft. But I'll just leave it like that now that's for part a part B. We know that this is how maney feet we want to fence, and we know that the cost is $3.75 her foot. And so our answer now will be in dollars. So let's multiply that 192 0.7 to 5 times 3 75. And when I do that, I get $722.72. So that's how much it will cost the construction company. But now we want to make 35% profit, so we don't want to sell it for that. They want to make some profit, so they want 35% profit, so they want to charge 135%. Um, the cost. And so we want to multiply 1.35 times that $722 and 72 cents. So let's see what that ISS so 7 22.72 times 1.35 and that comes out to be $975.67. So that's how much they would charge. And they would make 35% profit

Hey, what's up, guys? And welcome to another economics tutorial. Looking at externalities. Uh, we're gonna be using the same example with electricity here. So I'll just describe all this stuff here on the board again. The P on the left is the price in sense for Kilowatt, the Q is, uh, kilowatts per day. And then the marginal cost is, in a sense, for Kilowatt. So assuming electricity has some kind of negative externality along with it probably pollution. Uh, what would our marginal social cost be? And we'll do that now? So the marginal social cost I'm going to try and add a column to this. It might not be pretty, but bear with me. Oh, yes, Not pretty at all. Uh, so the marginal social cost is actually equal to your, um, marginal cost, plus whatever external costs the pollution produces. So in this case, we'll just assume that the external cost is just the same as the marginal cost. Um, which probably usually isn't the case, but it'll keep it simple for this. So that would mean the marginal social cost when you're producing 100 kilowatts per day, would be four, um, at 200 kilowatts. 8, 300 kilowatts. 12. Eight would be 16 and then 20. So then now you have your second supply curve, which is your marginal social costs, Which accounts for the the problems that are created with the negative externality. So, uh, we will elaborate more on this in the next one. I'll see you there. Farewell.

Hey, what's up, guys? We're going to be doing another economics tutorial here looking at externalities. So we're gonna be doing We're gonna be continuing on with our electricity example here, except now we're going to be finding the marginal social cost as well as the dead weight loss. So let's give a little bit of context before we get in. So the P on the right is the price measured in cents per kilowatt. The cute is the quantity measured in kilowatts per day. The EMC is the marginal cost measured in cents per kilowatt and then the MSC's your marginal social cost measured in cents per kilowatt, which we're going to be getting now. So your MSC is actually equal to your marginal cost plus the external cost caused by, um, the externality. So in this case, it will be pollution. Um, and to keep things simple, we're just going to assume that your external cost is just equal your marginal costs. So that would mean you're marginal. Social cost is just to EMC. So let's get to, uh, getting these numbers. So at a quantity of 100 your marginal social cost of the four at 200. It'll be eight at 300. It'll be 12 at 400. It'll be 16 and then at 500 it'll be 20. So then, now that we have an emergency social cost curve, we can actually find the social equilibrium, which would just be equating your marginal social cost with your price 12, 12 and a quantity of 300 kilowatts per day. Um, now that we have that, we can actually find the dead weight loss, which I've written the equation for. Up here it is one half because it's a triangle. The price that the consumer pays, minus the price that the producer pays times the equilibrium quantity minus the social equilibrium quantity. So I'll just draw out, um, where all those numbers are, just two things simple. So you have your quantity, you have your price. This graph might as a little small, so it might not be very pretty, but will make do you. You have your demand there, and then you have the supply that accounts for your externality. So this is the regular equilibrium. So this will be your Q e, um, the queue, the qs that we're gonna be using and your Q e. Here is, uh, it was it was 400. The equilibrium quantity, the new quantity for the social equilibrium is what we just got, which is 300. Um, and then the price that the consumers pay is up here at 12, and then the price that the producers get it's just going to be whatever the marginal cost is at our curve here. So it's actually six. So then, if you plug all those numbers in, what you'll get here is a dead weight loss of 300. Mhm. And, uh, that does it for this example. I'll see you guys on the next one farewell.


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