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The market demand for gadgets is given byQD=100-3p , where QD is the quantity of gadgets demanded and p is the price of a gadget in dollars. The market supply is given byQ S=p , where QS is the quantity of gadgets supplied. The production of gadgets releases a toxic effluent into the water supply. The marginal external cost can be described by MEC Q=2Q. a) Compute consumer surplus, producer surplus and the cost pf pollution in the market equilibrium. b) Compute consumer surplus, producer surplus and the cost pf pollution in the social optimum. c) Suppose the government is considering imposing a tax of $T per unit on the producers. Find the level of the tax that ensures the socially optimal amount of gadgets will be produced in a competitive equilibrium.
q1. assume that the production function for a commodity is given by q 10radiclk where q is the quantity of op the
Stores that sell wedding dresses do not typically permit photos, and do not have tags in the dresses that would identify the manufacturer and style type. What is the purpose of these rules? Suggest one other way of accomplishing the same objective.
Amy the architect and Bill the builder both have the same preferences, given by: U = (C – 180) (L – 50) 2 If Amy works, she receives a wage w a = £10 per hour worked. Bill meanwhile is paid w b = £5 per hour worked. Now suppose the government wants t..
This means that an individual firm's marginal cost is given by MC = 4q.Also, the market demand is given by how much output will each of them produce?
Current one-year interest rate for USD LIBOR: 5.25%. Caterpillar (CAT), a U.S.-based MNC, has a £12M account payable in one year to a U.K. company for some engines it will purchase from a British company. Show a carefully labeled and titled payoff di..
How does the analysis of risk aversion change when one allows for alternative models of decision-making then expected utility? How does subjective expected utility theory differ from expected utility theory? How might one elicit a subjective probabil..
The town finds an investor who purchases the warehouse and promises to renovate the old building and build condominiums. Is this economic growth?
Tool Manufacturing has an expected EBIT of $65,000 in perpetuity and a tax rate of 35 percent. The firm has $195,000 in outstanding debt at an interest rate of 6.1 percent, and its unlevered cost of capital is 14 percent. What is the value of the fir..
A company in the process industry produces a chemical compound that is sold to manufacturers for use in the production of certain plastic products. The plant that produces the compound employs approximately 300 people. Develop a list of six different..
Elucidate its advantages and disadvantages and suggest appropriate policy prescriptions to deal with the potential shortcomings.
What happens to the profits of boat makers in the short run. What happens to the number of boat makers in the long run.
Suppose that a firm’s marginal production costs are given by MC = 10 + 3Q. The firm’s production process generates a toxic waste, which imposes an increasingly large cost on the residents of the town where it operates: What is the marginal private co..
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