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a. Consider our competitive market, describe by the supply and demand model. If there are no externalities, explain why economists describe the competitive equilibrium an efficient.
b. Suppose instead that all of the firms in this market vent an ozone reducing chemical into the atmosphere as a consequence of their production actives.
1. Is this new outcome efficient? Explain with help of a diagram
2. Do these firms have an incentive to reduce their pollution? Explain with help of a diagram
3. Modern economists suggest 2 solutions for the pollution problem above. Explain how a pollution tax and an emission permit trading scheme can both "solve" the problem of pollution.
4. Suppose the polluter from above is not a competitive industry but instead is a monopolist. How does this complicate your analysis of the pollution problem and its solution?
What is the history of the juvenile justice movement? Include when it began, how it began, why it began, etc...
Illustrate what do the nominal interest rate also the real interest rate that Whitney can earn. Whitney puts money in a savings account at her bank earning.
In a particular competitive market, the sellers have private marginal cost (PMC) equal to 2.5 at every output level. The demand curve has the equation P = 52.5 − (5Q/2), where Q ≤ 21 is the quantity bought at price P ≤ 52.5. Explain how we can tell t..
What is the market equilibrium price and the price each firm gets for its product - What is the equilibrium market quantity and the quantity each firm produces?
Employee evaluations require a strong set of job descriptions, as well as a proactive communication system from managers who give timely feedback to their employees about performance issues as they arise. What should this kind of evaluation system lo..
Suppose a monopolist faces the following demand curve: p=420-4q Marginal cost of production is constant and is $36, and there are no fixed costs. What is the profit maximizing level of output? What profit maximizing price will be charged? How much pr..
one laborer can only produce either 5 unots of necessity per month or 10 units of luxury per month. On a graph draw the ppf. where does the ppf intersect on thy axis and where does the ppf intersect on the x aaxis.
Knowing that Drought and unreliable precipitation dominate natural environments in North Africa/Southwest Asia and that the A realm is the source of three world religions: Judaism, Christianity, and Islam answer the following questions using an envir..
A consumer has preferences u(x) = 2x 1 2 1 + x2. The price of good 1 is p1 > 0 and the price of good 2 is 1. You may restrict your attention to interior solutions throughout. Explain whether these preferences are i) monotonic, ii) quasilinear, iii) e..
Jimbob’s Garage is the only auto repair facility in a remote area of the Nevada desert. The proprietor, Jimbob, does not post his prices for services. Knowing his customers are travelers who are desperate to get their vehicles repaired, he sizes each..
Copiers cost about twice as much as workers. Would you recommend they hire another employee or buy another copier?
Select the item below that is a commonly held core value among tribal people.
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