Reference no: EM131344952
1. Draw a supply and demand graph and identify the areas of consumer surplus and producer surplus. Given the demand curve, what impact will an increase in supply have on the amount of consumer surplus shown in your diagram?
2. Use the ideas of consumer surplus and producer surplus to explain why economists say competitive markets are efficient. Why are below- or above-equilbrium levels of output inefficient, according to these two sets of ideas?
3. Draw a production possibilities curve with public goods on the vertical axis and private goods on the horizontal axis. Assuming the economy is initially operating on the curve, indicate how the production of public goods might be increased. How might the output of public goods be increased if the economy is initially operating at a point inside the curve?
4. Use the distinction between the characteristics of private and public goods to determine whether the following should be produced through the market system or provided by government? A. French fries. B. airport screenings. C. Court systems. D. Mail Delivery. and E. Medical care. State why you answered as you did in each case.
5. Explain the following statement. The optimal amount of pollution abatement for some substances, say, dirty water from storm drains, is very low; the optimal amount of abatement for other substances, say, cyanide poison, is close to 100 percent.
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Analyze the change process using the change concept
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Design an rc circuit using only one op amp
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Determining the international expansion
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Draw a block diagram to solve your equation
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Draw a supply and demand graph
: Draw a supply and demand graph and identify the areas of consumer surplus and producer surplus. Given the demand curve, what impact will an increase in supply have on the amount of consumer surplus shown in your diagram
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Demand for trains is unlimited
: Each week, Giapetto can obtain all the needed raw material but only 100 finishing hours and 80 carpentry hours. Demand for trains is unlimited, but at most 40 soldiers are bought each week. Giapetto wants to optimize weekly profit (revenues - co..
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Explain answer taking into account attitudes toward risk
: "I propose executing one spammer per year. That way, even if we don't catch and convict many, the penalty will have substantial deterrent effect. Because the cost of executing them is much less than the cost of catching them, it is cost effective ..
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Multi-period production planning at zeta
: Attached is the case study. This needs to be completed in Excel and any diagrams need to be able to edited, they cannot be cut and pasted into the excel spreadsheet. ALSO please show your work in excel, utilizing solver. I need to be able to see h..
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Calculate the rate of unemployment
: Calculate the labour force. Calculate the percentage of people not in the labour force. Calculate the rate of unemployment. Calculate the labour force participation rate
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