Chat with AIExam 17: Explaining Tastes: The Importance of Altruism and
The grade distribution in this class will fit a bell curve as shown below.
F.In other words, they are risk averse.Some students will promote all C's in the distribution. 
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You have no knowledge of what your ability level is relative to the other students and you have no idea how hard the test will be for you.You could fall anywhere on the distribution as far as you know at this time.Now your professor makes you an offer.You have the opportunity to alter the grading brackets to make them anything you want.The only constraint is that the overall class GPA must not change from the 2.0 that is the present distribution.Sketch on the graph below your optimal distribution given these constraints and explain why you made any changes. 
Most students sketch a much higher distribution with the A's and the F's eliminated.They are willing to trade away the possibility of an A for the guarantee that they will not get an F.In other words, they are risk averse.Some students will promote all C's in the distribution. 
Handicap access to buildings is becoming very expensive for many operators of public buildings.Are the laws mandating such alterations based on social efficiency or some other criteria?
(40) VerifiedThis question can be answered different ways.Many will argue that it is inefficient to spend thousands of dollars for very limited usage.They will suggest that the laws requiring the expenditures are based on a Rawlsian view of justice and morality.Others will argue that the laws are efficient because society is well served by a greater awareness of the life of handicapped people and by their unique contribution to welfare in general.The point here is that each argument should be logical and clearly articulated.
Which of the following is the best example of a nonexcludable good?
(39) VerifiedA
If you were able to increase the overall class grade point average above the 2.0 to a level of 2.5, what would you do to the distribution.
(36) Draw a graph of the individual demand equations and the total community demand for fireworks.Sketch in the marginal cost function as well.
(33) If the fireworks show is left to the private marketplace, what is likely to happen?
(35) Say 6 homogenous consumers have individual willingness to pay P = 20 - 4Q. If the marginal cost of providing Q is 6Q, the optimal amount of Q is:
(30) John Doe participates in a welfare scheme which pays him $6,000 dollars.He can work for $4.00 an hour.If there are 50 working weeks in a year, how many hours a week would he have to work to make as much as he would on welfare?
(33) From your answers above make an application to the worlds income distribution using John Rawl's terms "veil of ignorance", "economic justice", and "poorest of the poor".
(38) A new fad dramatically increases the demand for donut-holes, the leftovers produced from donut production.According to economic theory one would expect
(36) At least in theory.the marginal productivity system generates a solution where people who are 50% more productive than others working in their same field are paid
(29) If the citizens got together for a city referendum on the issue, and each voted for an amount of fireworks, knowing that each would pay their share (1/3) of the cost, how would the vote come out in a majority rule situation? Why is this not the socially efficient amount?
(32) Suppose Congress consists of 5 people who want to spend X% on national defense.Let their preferences be as follows: 1, 3, 20, 21, 25.What amount will most likely be spent?
(39) When the nonexclusion aspect of a public good does not hold, but the zero marginal cost component is present, how might the free rider problem be overcome and social efficiency achieved? Give examples from common social practice to illustrate your answer.
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