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1. Pritchett and Summers argue that income per capita is strongly and positively related to health status when viewed across the world. The following table presents data from the year 2000.
Plot a graph of GDP per capita against life expectancy for the countries shown. Does your plot con?rm the Pritchett and Summers ?nding?
2. Suppose a ?rm has the following production technology for goods 1 and 2:
(a) Does Good 1 indicate economies of scale? Why?(b) Does Good 2 indicate economies of scale? Why?(c) Do the two goods indicate economies of scope? Why?
Suppose a perfectly competitive firm is producing 300 units of output, P = $10, ATC of 300th unit is $8, marginal cost of 300th unit = $10, and AVC of the 300th unit = $6. Based upon this information, the firm is:
Employee benefits have become more and more an important part of employee compensation. According to the text, what percentage of employee compensation is employee benefits?
What are the short- and long-term economic benefits and costs associated with our current high federal government budget deficits Do you think the economic benefits outweigh the economic costs, or not Why If we wished to reduce the budget deficit t..
Is it possible to collect new tax revenue, and at the same time guarantee that the poor individual will not be made worse-off by the new carbon tax? Be specific, and make sure you calculate the final tax revenue. Assume the government is able to o..
Environmental Protection Agency regulations tend to go by several stages of review and approval before they are implemented.
Explain why in a monopolistic industry, if demand and cost curves are the same as those of a competitive industry, and if the demand curve has a negative slope and the supply curve has a positive slope, then monopoly output will be lower and price..
Industry supply and demand are given by QD = 1000 - 2P and QS = 3P. Determine the equilibrium price and quantity?
1) We are not looking for a traditional biography of these economists, and we are not concerned about their place of birth, marriage(s), schooling, zodiacal symbols, favorite color or animal, except as that informs their work.
Assume that a union's target is to maximize total wage income received by union workers, namely, the average union wage times the number of union workers employed.
Calculate the six firm concentration ratio and Herfindahl-Hirschman index for this industry. What does each of these measures have to say about the degree of concentration in the industry
question detail nbspcontrolsoft inc. is a supplier of inventory management and control software that is popular with
At what output is the average variable cost (AVC) at a minimum and if the market price of the firm's output is $7.5 per unit, should the firm produce or shut down?
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