logo
How it worksResearch CommunitiesBenefitsAbout Us
Schedule Demo
Learn Before

  • Calculating the Net Social Benefit for Min's Music

Example Calculation of Net Social Benefit for Min's Music

To illustrate the concept of net social benefit, consider a scenario where the cost (C) of producing and broadcasting 'Min's Music' is $40,000. Given that the total social benefit is $75,000, the net social benefit is calculated as $75,000 - $40,000 = $35,000. Since this result is positive, it confirms that producing the program is socially beneficial.

0

1

2 hours ago

Contributors are:

Gemini AI
Gemini AI
🏆 5

Who are from:

Google
Google
🏆 5

References

Tags

Social Science

Empirical Science

Science

Economy

CORE Econ

Economics

Introduction to Microeconomics Course

The Economy 2.0 Microeconomics @ CORE Econ

Related

  • Example Calculation of Net Social Benefit for Min's Music

Learn After

  • A local government is considering funding a public arts project. The total estimated value of the project to the community (the social benefit) is 120,000.Thetotalcosttocreateandinstalltheartis120,000. The total cost to create and install the art is 85,000. Based on this information, what is the net social benefit of the project, and what does this value imply about the decision to fund it?

  • Project Funding Decision

  • A city council is considering a proposal to build a new public swimming pool. The total estimated benefit to the community is valued at 2,500,000.Thetotalcosttobuildandoperatethepoolis2,500,000. The total cost to build and operate the pool is 1,950,000. Assuming there are no other costs or benefits, the net social benefit of this project is $______. (Enter a number only, without commas or currency symbols).

  • A town is evaluating a proposal to build a new public park. The total value the community places on the park is estimated at 500,000,whilethetotalcostofconstructionandmaintenanceis500,000, while the total cost of construction and maintenance is 550,000. Statement: Based on this information, constructing the park is considered a socially beneficial decision.

  • Evaluating a Community Garden Project

  • A city is evaluating several public projects. For each project, the total social benefit (the value to the community) and the total social cost (the cost of implementation) have been estimated. Match each project with its calculated net social benefit and the resulting conclusion.

  • A city government determines that a new public library project yields a net social benefit of 200,000.Ifthetotalvaluethecommunityplacesonthenewlibrary(totalsocialbenefit)isestimatedat200,000. If the total value the community places on the new library (total social benefit) is estimated at 1,500,000, what must the total cost of the project be?

  • Project Selection Based on Net Social Benefit

  • A town council must decide between two proposals for a new public facility. Proposal A is for a community library with an estimated total social benefit of 500,000andatotalsocialcostof500,000 and a total social cost of 420,000. Proposal B is for a sports complex with an estimated total social benefit of 700,000andatotalsocialcostof700,000 and a total social cost of 630,000. To maximize the value delivered to the community, which project should be chosen and why?

  • Optimizing Project Selection with a Budget Constraint