Suppose that the City of Roseville is considering building fireworks for New Years Eve and assume that the fireworks show is a public good. The four citizens in Roseville have valuations (willingness to pay) for the fireworks that are displayed in the table below. Use this information to answer question 17.   Willingness to pay Yutong $36 Gabriella $40 Santiago $28 Ellen $20   It is socially efficient to have the fireworks if and only the cost is no higher than

Consider the market for garments in Econland, where the demand and supply curves are represented in the graph below. Econland is a small open economy and it has liberalized trade in the market for garments. As a result, garments are traded at the world price in Econland, . Use this information to answer questions 34 – 38.

Suppose that Zeenat’s income increases to $32, while the prices of protein bars and protein shakes remain unchanged. Relative to the initial optimal consumption bundle, what is the change in Zeenat’s quantity demanded for protein shakes associated with the increase in income?

Once again, consider that the per unit price of peanut butter has increased to $12. The change in the quantity demanded for peanut butter brought about by the increase in the price of peanut butter is ____ units by substitution effect and ____ units by income effect. (Fill in the blanks.)

Suppose that Mila has an income level of $180, that the per unit price of peanut butter is $12, and that the per unit price of jelly is $6. What is the opportunity cost of one peanut butter?

What is Zeenat’s optimal consumption bundle?

Mila can buy a pound of grilled salmon for $20 and a coke for $4. Assume that she has an income of $200. Which of the following would cause Mila’s budget constraint to shift outward in a parallel way?

A person is floating in a boat in a small pond.  The boat’s anchor is taken out of the pond and placed into the boat. What happens to the level of the pond?

 A machine learning model trained on genomic data from European-ancestry patients is applied to patients of African ancestry. What is the MOST likely problem, and why?A.  The model will likely perform worse because genetic variant frequencies differ between populations, and the model learned patterns specific to European ancestry introducing algorithmic biasB.  The model will run slower because African genomes are largerC.  African ancestry patients have different diseases, so the model’s predictions are irrelevantD.  There is no problem machine learning models automatically adjust for population differences

The pressure at the bottom of a glass filled with olive oil is P.  The olive oil is poured out and the glass is filled with water.  The pressure at the bottom of the glass is now.