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A fictional survey shows a decrease in drug use by young people in Brooklyn. In the ensuing debate, two hypotheses for the decreased drug use are proposed:
(1) Increased police efforts have decreased the availability of drugs on the street and (2) Pursuing drug education efforts have increased awareness of the dangers of addiction.
a) Use supply and demand diagrams to show how each of these claims is consistent with a fall in the quantity of drugs consumed.
b) You learn that the market price of illegal drugs is falling. Which hypothesis is consistent with this information on drug prices?
Evaluate whether and to what extent the human failures that led to the disaster can and will be corrected.
Your savings account was earning 3% interest. What are explicit and implicit costs of your decision. What is total opportunity cost this year of starting shop.
Elucidate how you would address each of the main problems in the organization.
Illustrate what would be the best advice to give him knowing which this is his only source of income.
Illustrate what is the difference between absolute advantage and comparative advantage. If a country has an absolute advantage in both goods.
Compute the certainty equivalent of his bet. Calculate the Arrow-Pratt measure of absolute and relative risk aversion.
Explicates how the factors determining resource demand differ from those determining product demands.
q.1. briefly discuss the impact of rational self-interest on each of the following decisionsa. whether to attend
Illustrate what is the optimal production quantity measured in thousands of bushels of Texas Citrus Company in the short run.
Suppose taxes are measured in cents as in the first case, but consumption is measured as gallons consumed every month.
Suppose that Iggi and Kurt begin trading ice cream and waffle cones with each other. Illustrate what can be said about the trade patterns between Iggi and Kurt.
Quantity of pizzas demanded soared following week from 1 pie an hour to 100 pies an hour. What was price elasticity of demand for Domino's pizza.
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