HW 4 - Matthew Syers March 11, 2008 Micro Economics HW #4 A...

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Matthew Syers March 11, 2008 Micro Economics HW #4 A parking lot in downtown Plattsburgh is owned by the city of Plattsburgh. It therefore does not generate any tax revenue, nor is there a daily use charge for vehicles parked there. The city is considering selling the property to developers for other uses, or converting it to a city park complete with a bandshell and picnic tables. The private use alternatives are to construct apartments or to construct yet another bar/restaurant. The stakeholders are A) the government, which presumably wants to maximize the social welfare of residents of Plattsburgh, and perhaps gain some property and sales tax revenue, B) potential business owners, C) residents and workers in the Plattsburgh area, and D) patrons and visitors of downtown Plattsburgh. 1. Discuss the benefits and costs of each of the alternatives from an economic and social welfare point of view taking into account all stakeholders. 2. Assign an overall utility value for each alternative and choose the development
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This note was uploaded on 04/20/2008 for the course ECO 110 taught by Professor Dr.duffy during the Spring '08 term at SUNY Plattsburgh.

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HW 4 - Matthew Syers March 11, 2008 Micro Economics HW #4 A...

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