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consider the same problem as in problem 1524 but suppose that the biotech company can conduct its own test-at no
you are bidding against one other bidder in a first-price sealed-bid auction with private values you believe that the
what is the difference between a partial equilibrium analysis and a general equilibrium analysis when analyzing the
in a general equilibrium analysis with two substitute goods x and y explain what would happen to the price in market x
1 what is an economically efficient allocation how does an economically efficient allocation differ from an inefficient
consider the markets for butter b and margarine m where the demand curves are a find the equilibrium prices and
a firm is considering launching a new product launching the product will require an investment of 10 million including
an insurance company is considering offering a policy to railroads that will insure a railroad against damage or deaths
consider a market of risk-averse decision makers each with a utility function each decision maker has an income of
consider a household that possesses 100000 worth of valuables computers stereo equipment jewelry and so forth this
in the upcoming year the income from your current job will be 90000 there is a 08 chance that you will keep your job
you have a utility function given by u 10 lni where i represents the monetary payoff from an investment you are
consider a manufactured good whose production process generates pollution the annual demand for the good is given by qd
a explain why cigarette smoking is often described as a good with negative externalitiesb why might a tax on cigarettes
the accompanying graph on next page shows the demand curve for gasoline and the supply curve for gasoline the use of
the united states and switzerland both produce automobiles and watches the labor required to produce a unit of each
there are two types of citizens in pulmonia the first type has an inelastic demand for public broadcasting at q 8
when there are only two people in an economy the markets clear when the sum of their excess demands is equal to zero
a chemical producer dumps toxic waste into a river the waste reduces the population of fish reducing profits for the
in problem 1722 how would your answer change if the marginal cost of the public good is 60 what if the marginal cost is
some observers have argued that the internet is overused in times of network congestiona do you think the internet
draw an edgeworth box containing an endowment point and a budget linea draw an indifference curve for george and an
consider an economy composed of two people monday and tuesdaya there are two possible allocations and neither monday
it was assumed in the text that georges indifference curves do not cut the bottom or left-hand side of the box and that
harold is endowed with 6 pints of ale 8 loaves of bread and 10 pounds of cheese he can consume these goods or he can