Assume your city government has been contacting with a single garbage collection firm that has been granted an exclusive franchise, the sole right, to pick up trash within your entire city limits. However, it has been proposed that companies be allowed to compete for business with residents on an individual basis. The city government has estimated the price residents are willing to pay for various numbers of garbage collections per month and the total cost facing the garbage collector per resident as shown in the following table.

Pickup (Q) Price/Pickup Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC)
0 $4.20 0 --- $3.20 --- ---
1 $3.80 $4.20
2 $3.40 $5.60
3 $3.00 $7.80
4 $2.60 $10.40
5 $2.20 $13.40
6 $1.90 $16.80

1. What are the fixed costs per month of garbage collection per resident? Explain your answer
2. Considering that the current garbage collection firm the city has contracted with has a monopoly in garbage collection services, what is the current number of collections residents receive per month and the price charged residents for each collection? What is the economic profit received from each resident by the monopoly firm? (Note: Profit received form individual resident must be calculated a per unit basis)
3. If competitive bidding were allowed and therefore a competitive market for garbage collection services developed, what would the number of collections per month and the price charged residents per collection? What is the economic profit received from each resident by the competitive firm? (Note that in a competitive market (chapter 13), P=MC=MR)
4. Based on the above analysis, should the city government allow competitive bidding? Why? Would you expect there to be any quality differences between the monopolistic and competitive trash collection firms?

Answer:

collect and recycle

Explanation:

Kids Early Start (KES) operates from Monday to Friday. KES provides childcare and educational services for inner-city kids between ages of 3 months and 5 years. It has fixed expenses of $35,000 per week and charges parents $15 per day for each child who attends the program.

Which of these are characteristics of successful entrepreneurs?(select four answers)

Confidence,discipline, optimism,& passion

With a(n) _______, the full amount of the loan is received when the contract is signed, but only the interest is paid over the life of the loan. The principal is then paid on the date that the loan is due. Question 2 options: retirement loan balloon loan line of credit installment loan

In 2012 London hosted the Olympic Games. Explain why business and sales within the hospitality and catering sector increased during and after the games.

Which of the following accurately describes socially responsible investing?
A. When investors give some of their profits to nonprofit corporations
B. When investors vote for a board of directors from their own
society
C. When investors buy into companies with ethical practices they
support
D. When investors attempt to maximize profits for society instead of
for themselves​

Use the information presented in the curve to answer
the following question.
What is the equilibrium price for the product?
$25
$20
$15
$10

Assets - Liabilities = Owner's equity
Which of the following can best define this equation?
Short-term and long-term debt = Amount of money that owners have in
the company
All items of value that a company has - Short-term and long-term debt
= Amount of money that owners have in the company
Short-term and long-term debt - All items of value that a company has
= Amount of money that owners have in the company
All items of value that a company has - Short-term and long-term debt​

What are the consequences of Real wage unemployment?

What is one of the advantages of having a F a c e b o o k fan page instead of a personal page? Question 10 options: Receiving fewer personal messages Sending bulk messages Saving time More personal convenience

If you took $1,000 and put it into an interest-bearing savings account compounding quarterly at 3%, how much would your fund be worth at the end of one year? A: $1,030.00 B: $1,120.00 C: $1,030.34 D: $1,120.33

Which of the following accurately describes one way that individual goods
differ from public goods?
A. All individual goods are normal goods.
B. Demand for individual goods is always inelastic.
C. Consumer rivalry results in decreasing marginal utility for
individual goods.
D. People can be excluded from using individual goods if they don't
pay.​

Parental freedom is limited by laws requiring what?
O A. Public-school funding
O B. Uncensored textbooks
O C. Compulsory education
O D. Educational subsidies​