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Suppose that an impending environmental regulation to control that hazard is expected to reduce risk of premature death from 6/100,000 to 2/100,000 per year in that exposed population of 4 million people. Your boss asks you to tell her what is the maximum this regulation could cost and still have benefits be at least as large as the costs. what is you answer?
The full employment level of output is $4,000 while the current level of output is $3,600. MPC = .75 and the Required Reserves is 10%. Given this information: a. How much of a
Describe the Circular Flow Model. What are the five components of the circular flow diagram, as shown class? What are leaks and injections and how do they affect the economy?
Two clinics want to merge. The price elasticity of demand is -0.20, and each clinic has fixed costs of $50,000. One clinic has a volume of 7,200, and marginal costs of $50, an
Around 2000, the dotcom bubble in the stock market burst and the US entered a recession. What would the neo-classical policy prescription have been for the US government and t
Suppose a consumer derives satisfaction from consuming tacos: those from Taco Bell and those from Chipoltle. Graph the budget line of the consumer under the assumption that he
Suppose a consumer maximizes the utility function U=ln(xy) subject to the budget constraint 4x + 2y = 12. Find the consumption bundle (x*,y*) that maximizes utility for the co
What parts of the external environment ( general, industry, and competitive) do you believe BP considered or didn't consider prior to drilling off the gulf coast? what should
A farmer uses three inputs to produce vegetables: land, labor, and capital. The production function for the farm exhibits diminishing marginal rate of technical substitution.
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