answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sertanlavr [38]
2 years ago
6

Tom, Mary and Jill have apartments in the same building. A security system for their building costs $750. Tom is willing to pay

$100 for the security system, Mary is willing to pay $300 and Jill is willing to pay $300. They have a meeting to vote on whether to pay $250 each for the security system. At least two of them must vote for the system to be installed before the vote is passed. The efficient outcome is to have the security system installed. After the meeting the security system will __________, which illustrates ___________.
be installed, the free rider problem
not be installed, the free rider problem
be installed, a negative externality
not be installed, a negative externality
Business
1 answer:
SSSSS [86.1K]2 years ago
3 0

Answer: The efficient outcome is to have the security system installed. After the meeting the security system will <em><u>be installed</u></em>, which illustrates the <em><u>free rider problem.</u></em>

Free rider is the burden on resource which is been shared, the problem is created by its usage or over-exploitation by individual who aren't paying their fair share.

∴ Here Tom is a free rider. i.e. He is willing to pay $100 where he should've paid $250.

You might be interested in
Suppose that the central bank must follow a rule that requires it to increase the money supply when the price level falls and de
Ann [662]

Answer:

A). Decrease the money supply so interest rates rise.

Explanation:

This could be explained simply because change in money supply results in changes in price levels and/or a change in supply of goods and services. An increase in money supply results in a decrease in the value of money because an increase in money supply causes a rise in inflation. As inflation rises, the purchasing power, or the value of money, decreases.

A change in interest rates is one way to make that correspondence happen. A fall in interest rates increases the amount of money people wish to hold, while a rise in interest rates decreases that amount. A change in prices is another way to make the money supply equal the amount demanded.

6 0
2 years ago
Read 2 more answers
Hannah and Ellen rely on consistent messages received via word of mouth and are older and more conservative than other customers
Aleks04 [339]

Answer:

they fall into early majority

5 0
2 years ago
Sometimes very high ________ costs are recognized before a project begins and reducing these costs through shorter project durat
Kruka [31]

Answer:

Overhead costs

Explanation:

When high overhead costs are recognised before project starts there will be a need to manage them. Since overhead cost increase as duration of project increases, reduction in project duration will go a long way in reducing cost incurred.

Overhead costs can include wages, rent, utility bills, maintenance costs and so on. They can also be reduced when costs that are not adding value is recognised.

8 0
2 years ago
Read 2 more answers
The marginal utility of the last unit of apples consumed is 12 and the marginal utility of the last unit of bananas consumed is
allsm [11]

Complete question:

The marginal utility of the last unit of apples consumed is 12 and the marginal utility of the last unit of bananas consumed is 8. What set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium

a. $8 and $12

b. $6 and $4

c. $16 and $9

d. $4 and $6

Answer:

$6 and $4  set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.

Explanation:

Given,

The marginal utility of the last unit of apples consumed = 12

The marginal utility of the last unit of bananas consumed = 8

Now ,

To find :

The market level for apples and bananas, respectively, will be compatible with the consumer's equilibrium:

= \frac{12}{3} = $6

= \frac{8}{2} = $4

$6 and $4  set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.

6 0
2 years ago
What is the maximum period of time that a personal services contract for temporary consultant services may be awarded?
Kisachek [45]

Answer: 1 year

Explanation: According to the Defence Federal Acquisition Regulation under 237.106, personal service contracts that apply to consulting or expert services will be limited to one year. However this will only apply to duties that are temporary (limited to 1 year, or 12 months), or non cumulative days (needs to be 130 days or more that are broken up within a year). During this time the officer contracting the service will enter into a contract, make an order, or exercise options for various services that do not exceed 1 year.

6 0
1 year ago
Other questions:
  • ________ can describe a product class, a product form, or a brand.
    9·1 answer
  • When purchasing a dishwasher a manager can tell if it is in compliance with the regulatory authority by?
    8·1 answer
  • An economy has full-employment output of 5000. Government purchases are 1000. Desired consumption and desired investment are giv
    8·1 answer
  • At the Sunny Solutions Company, employees are involved in decision making and promised long-term employment. The employees follo
    10·1 answer
  • Joyce just closed on a condo for $366,900 and put down 20% to obtain an 80% loan and avoid having to pay for private mortgage in
    12·1 answer
  • Tesla, a vehicle manufacturer, incurs the following costs. (1) Classify each cost as either a product or a period cost. If a pro
    14·1 answer
  • The 7 percent semiannual coupon bonds of Over The Counter, Inc., are selling for $1,102.25. The bonds have a face value of $1,00
    11·1 answer
  • A price ceiling will have NO immediate effect if: a. it is set above the equilibrium price. b. the equilibrium price is above th
    13·1 answer
  • Devlin Company has two divisions, C and D. The overall company contribution margin ratio is 30%, with sales in the two divisions
    11·1 answer
  • A firm has 4 plants that produce widgets. Plants A, B, and C can each produce 100 widgets per day. Plant D can produce 50 widget
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!