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a. Demand Curves for Public Goods Adam and Eve live on two sides of the Garden of Eden, a small suburban development. After they move in, an old PCB dump is discovered in between their houses. If X total tons of PCB's are removed from the dump, the two have a true willingness to pay (WTP) to finance a clean-up equal to: ADAM's WTP = 10 - X and EVE's WTP = 6 - X
b. Draw one diagram illustrating the two individuals demand curves for clean-up, and the total demand for clean-up in the neighborhood. What is the total WTP for 3 tons of clean-up?
c. If cleaning up 2 tons were to cost $12, is their sufficient WTP in this small community to finance it? What are two potential reasons why a voluntary clean-up might nevertheless fail?
Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?
First ignore the implicit constraints: 8 i; xi 0 and give the FOCs. Then take them into account and give the Kuhn-Tucker Conditions. Simplify your expressions as far as you can.
Give at least two examples of a perfectly competitive market and explain what characteristics led you to that decision. Second, give at least two examples of a monopoly market and explain what characteristics led you to that decision.
Make sure your explanation is clear and that you provide specific examples. Any quotes from the readings or external materials must include quotation marks and an in-text citation.
Show, using supply and demand analysis, impact on the equilibrium price and quantity of new Hybrid automobiles when following occurs. Using graphs, explain the change in equilibrium price and quantity,
Explain Arthur Laffer's theory of tax rates relative to tax revenue. What is the effect of a tax on the deadweight loss Why is it sometimes difficult to predict what will happen when a tax rate is decreased or increased
Explain what strategies you used to formulate a viable argument.
Suppose the demand for total snuffbox production is given by Q = 1,100 – 50P. What will be the equilibrium in this marketplace.What will each firm’s total short – run profits be.
In recent years, scores in baseball have constantly increased. Most experts believe that this is due to expansion of new teams into the league.
you and your friend have decided to open a company selling product of your choice. use any one of the above mention
what are your thoughts about minimum wage legislation? what kind of a price-control policy is this? who gains? who
analyze the impact on the consumer's demand of the following three policies under the assumption that the market price does not change.
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