Lighthouse ownership
Problem: When you see a lighthouse and a child asks who made this (or had it made) how will you explain? Why?
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Calculate the marginal cost and marginal benefit of posting the attendant. According to the marginal Hand Rule, would the barge owner be found negligent for failing to post an attendant?
Problem: When an increase in precaution will reduce liability from 10% to 4%, for example, how do you compute that? If the damages were $500,000 would it be 6% of $500,000?
How do information flows correspond to the distinction between time-saving and time-using technologies?
In light principle-agent theory, why might dentists and attorneys be required to subscribe to professional codes of ethics that prevent (or at least limit) their ability to sell unneeded services to their clients? Why do we not see similar codes o
Question 1: What is poverty? Question 2: How does the United States define who is poor? Question 3: What is the current poverty rate?
Could a nation's production possibilities curve shift outward? Explain what such a shift would mean, and discuss at least two events that might cause such a shift to occur.
Assess the empirical evidence on the relationship between corruption and economic growth. Could you illustrate with a case study of an Asian economy?
Payoffs in dollars of weekly profit. Explain the statements below. a) The pricing decision facing Burger King and McDonald's is a prisoners' dilemma. b) Cooperation between Burger King and McDonald's occurs in cell D of the payoff table. The non-co
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