In each of the following csses, explain whether you think thesituation is effici

Question

In each of the following csses, explain whether you think thesituation is efficient or not. If it is not efficient why not? Whatactions would made the situation efficient? a. Electricity is included in the rent at your dorm. Someresidents in your dorm leaves lights, computers.and appliances onwhen they are not in their rooms. b. Although they cost the same amount to prepare, thecafereria in your dorm consistently provides too many dishes thatdiners don't like, such as tofu casserole, and ttoo few dishes thatdiners do like, such as roast turkey with dressing. c. The enrollment for the particular course exceeds the spacesavailable. Some students who need to takew this course to completetheir major are unable to get a space while others who are takingit as an elective do get a space. In each of the following csses, explain whether you think thesituation is efficient or not. If it is not efficient why not? Whatactions would made the situation efficient? a. Electricity is included in the rent at your dorm. Someresidents in your dorm leaves lights, computers.and appliances onwhen they are not in their rooms. b. Although they cost the same amount to prepare, thecafereria in your dorm consistently provides too many dishes thatdiners don't like, such as tofu casserole, and ttoo few dishes thatdiners do like, such as roast turkey with dressing. c. The enrollment for the particular course exceeds the spacesavailable. Some students who need to takew this course to completetheir major are unable to get a space while others who are takingit as an elective do get a space.

Explanation / Answer

To see if a situation is efficient you should ask yourself. Cananyone become better of without making anyone worse of. a) The "landlord", or whoever pays for the electricity, paysfor the electricity. The resident owns the electricity. Thelandlord wants to pay less for electricity. The resident loseslittle by turning off his lights. If the resident is willing toturn off his lights for a fraction of what the landlord saves by aresident with lower electricity consume. Both can gain. Theoriginal situation was not efficient b) The diners can become better of by getting more turkey withoutthe cafeteria getting worse of. The original situation was notefficient. c) The student A who needs the course to complete their major anddon't get the course would be better of if someone would be willingto sell their seat for a fraction of what student A loses bygetting a major later. The original situation was not efficient

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