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I know that Market Failure occurs when markets lead to inefficiency. But what are the reasons that cause Market Failure? please explain in detail.
write a paper explaiing issues that bring concern to pricing your services and products. What ethical challenge will you face in hiring non CPA's.What standerds apply.
Using the concept of opportunity cost, explain why in developed countries with higher average incomes there is more support for costly environmental controls which raise goods on goods than in poorer
Say your parents give you a car for your birthday. It is not the new model you wanted, but it's in very good condition. They bought it used for $15,000 market value. The cost of keeping the car to you
Suppose a firm has a constant marginal cost of $10. The current price of the product is $25, and at that price, it is estimated that the price elasticity of demand is -3.0. a. Is the charging the
To improve its standard of living, a nation’s economy must A. remain stable. B. grow through innovation. C. reach economic equity. D. allow the central government to make eco
You have been hired by a local used car dealer to help in their pricing of used cars.They want to know whether the prices of the cars they sell are more influenced by the age of the car or by the mile
Suppose the U.S government decides that the incomes of dairy farmers should be maintained at a level that allows the traditional family dairy farm to survive. It therefore implements a price floor of
Why does PPF become a straight line? When it becomes a curve? When the PPF shifts parallelly? When it shifts clockwise or anti-clockwise?
what is producer surplus? “The more the competition among the sellers, the less the producer surplus enjoyed by the producers” – do you agree with the statement. Justify your answe
Suppose the price of widgets falls from $7 to $5 and consumption of widgets rises from 15 widgets a month to 25 widgets. Calculate your price elasticity of demand of widgets. What can you say about
Assume that the equation for demand for bread at a small bakery is Qd = 60 - 10Pb + 3Y, where Qd is the quantity of bread demanded in loaves, Pb is the price of bread in dollars per loaf, and Y is the
Suppose the president is attempting to decide whether the federal gov should spend more research to find a cure for heart disease. How should policy makers determine the amount of money that shou
Suppose that as the price of Y falls from $3.00 to $1.00 the quantity of Y demanded increases from 10 to 18. Compute the price elasticity of demand. Is the demand elastic or inelastic?
Consider two individuals considering how many iced coffee drinks to buy during the coming week. Person A is willing to pay a maximum of €10 for the first drink, €8 for the second,
Inter-temporal Price Discrimination. Suppose that technophiles are willing to pay $400 now for the latest iPhone, but only $300 if they have to wait a year. Normal people are willing to pay $250,
If your bank pays 5.5 percent interest on savings deposits, what is the simple interest paid in the third year on an initial $100 deposit? What is the total amount in the account after three year
There are two types of consumers of potatoes: 10 are rich and 50 are poor. Every rich consumer has a demand of 0 for a price of $500/ton; and his/her demand decreases by 1 ton each time the price incr
There are two goods 1 and 2. Denote by (x1; x2) the consumption bundle consisting of x1 units of good 1 and x2 units of good 2. A consumer has preferences that described by the linear utilit
If the US dollar depreciates dramatically relative to the Chinese yuan, what effect would this have on consumers and businesses in each country? When is a falling dollar good or bad for the US?
Which aspects of the Great Depression are echoed in the ongoing economic crisis that began in 2008? What is different about the two periods? Do they have similar theoretical explanations?
A firm uses a single plant with costs C = 160 + 16Q + .1Q2 and faces the price equation P = 96 - .4Q. a. Find the firm’s profit-maximizing price and quantity. What is its profit? b. Th
Prepare a two- to three-page analysis:What is nominal GDP? What is real GDP? What is included in each? Why are these measures important? What do they tell us? What was GDP for the last two yea
Suppose that the market of laptops is given by following supply and demand curves given below: Qd = 5000 − 3p Qs = 1000 + p. Answer the following questions on excel sheet us
What is one of the major problems caused by a large national debt? It does not allow small investments by private individuals. It makes it hard for the government to carry on activitie