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Assume an urban cluster's income (I) is given by the function I=4N-0.05N2, where N denotes the cluster's population in million. The cluster's diseconomies of aggregation (C) are given by C=0.5N2.
(a) Calculate the city's utility maximizing population.
(b) At this population, how large is the resulting utility, how large is the cost?
(c) Compute the resulting utility if the population were on million higher and one million lower than the optimum.
Assessing the development of the discipline from today's perspective, how would Keynes's impact compare with that of your candidate.
Select the most serious disadvantage of globalization (in your opinion) and make at least one recommendation
In late 2006 and early 2007, orange crops in Florida were smaller than expected, and the crop in California was put in a deep freeze by an Arctic cold front.
Suppose that increased international trade makes product markets more competitivein U.S., would we expect to observe an upward slope on the WS curve or the PS curve
Explain the strengths and weaknesses of using monetary policy in comparison to fiscal policy when promoting economic activity.
5 ways to develop strategic business and briefly discuss differentiate, customer-oriented, understand clients need, r-s platform and management, active marketing, etc
Watch the video titled Fear the Boom and Bust. Using the tools of macroeconomics, identify the primary difference between the two philosophies.
The United States is experiencing a recession and Congress decides to adopt an expansionary fiscal policy to stimulate the economy.
If the returns of the risky portfolio are normally distributed, what is the probability of returns being less than 29%.
Rain spoils the strawberry crop, the price raises from $4 to $6 a box, and the quantity demanded decreases from 1,000 to 600 boxes a week
One of the three ADM executives was actually an informant who tipped off the Feds about this conspiracy. Which executive was he. Why did he rat out his co-workers.
Some economists argue that only unanticipated increases in the money supply can affect real GDP.
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