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the price of cheese is also -0.5. Explain why the results from part (a) reflect only income effects, not substitution eff ects. What are the compensated price.
What is the change in the total amount that J & R National Bank can loan out? Explain. What is the total amount that the bank can create? Explain.
Explain wether you agree or disagree with each of the following statements. In each case, indicate wether your position is based (inplicitly or explicitly) on benefit cost analysisor on some other
Suppose the inverse demand curve for paper is p = 200 - Q. What is the social optimum? What specific tax per unit of output of gunk results in the social optimum?
Would you be better off (a) letting the union bear the expense of crafting a document summarizing its desireed compensation or (b) making the union a take it or leave it offer? explain.
Write a paper that uses game theory to to set up a game designed to help a consumer decide whether to buy life insurance or not.
While average margins declined to 17 percent of sales. What is the price elasticity over this time period and how did sales revenues and total contribution (volume x margin) change.
Assume that the firms are price takers, and input prices are unaffected by industry output. Find the firm supply curve. Compute the supply curve for the entire industry.
In the model of a dominant firm, assume that the fringe supply curve is given by Q = -1 + 0.2P, where P is market price and Q is output. Derive the residual demand curve that it faces and calculate i
State your opinion as to whether the U.S. should support regulation such as the Kyoto Protocol or cap-and-trade systems for reducing emissions.
Examine each market failure and the effect of each failure considering perfect competition as a benchmark. Are there sources of market failure other than those listed in your readings?
Using your knowledge of the problem associated with asymmetric information, explain whether you think this insurance company will be profitable.
Is the provision of an additional litter of wolves efficient from the social perspective? State Yes/No and justify your choice.
Calculate the implied income arc elasticity of demand. Holding all else equal, would a further increase in price result in higher or lower total revenue?
The number purchased increased during this time. Using a supply and demand diagram, show the impact of the ice storm on the market for kerosene heaters.
The oligopoly you described in the e-Activity, initially gaining a 12% market share. Discuss the steps the oligopoly should take to address this new competition.
As we've been discussing and identifying the issues that our local and global communities currently face, how do you envision our role as a global citizen changing over the next few years?
Calculate points on the aggregate demand curve when the price level equals 0.8, 1.0, 1.2, 1.25, and 1.5, given the initial value of the nominal money supply.
Last year in wages, $10,000 from investments, and were given $5000 as a gift by your grandmother. Also assume that you are a single parent with one small child living with you. What is your gross in
How to fund the social security system has been a major topic of debate for many years. With a huge number of baby boomers poised to retire, it is feared the fund will run out of money.
Commercial users, and the company cannot distinguish between the users. What is the best strategy for a software developer given the demand?
Why do insurance companies use home addresses? What are the efficiency and equity implications of forbidding such practices?
Using an Edgeworth box, illustrate the monopoly optimum and show that it does not lie on the contract curve (that is, it isn't Pareto efficient).
What would make the curve expand or contract? Why is efficiency lost at the extremes, as when substantially more of one good and very little of another is produced?
In the context of shareholder wealth-maximization model of a firm, what is the expected impact of each of the following events on the value of the firm?