Thank you much for writing my perfect assignment!.!. Very well written and great service
A wide range of public projects require land. The government of Ontario recently received funds under the federal infrastructure program to build two new soccer stadiums in the greater Toronto area. To build these sport facilities, the government needs to buy land. The market for land in this region is competitive.
The initial private sector demand for this land is given by the following function:
D0 =15,750 – 0.75 P
Where, D is quantity demanded in acres and P is measured in dollars per acre. The public demand for land driven by federal infrastructure program shifts the demand function for this land to:
D1= 20, 750 – 0.75 P
The supply of land is fixed at 800 acres and does not change due to change inthe price of land. So, the supply function is:
S = 800
(i) Determine the price at which the government would purchase land, the quantity of land in acres it will purchase and the total amount of money it will spend to purchase land.
(ii) Determine the cost of this resource from society’s point of view. Explain your results.
(iii) Would it be appropriate to use total cost of land to represent the opportunity cost of this resource from society’s point of view? Explain
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.
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
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
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
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
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