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In recent years the States of Colorado and Washington have (for all practical purposes) legalized the recreational use of marijuana. Both advocates and opponents claimed that such laws would have observable effects on public revenues and expenditures, public health, criminal behavior, and other social concerns. If you wanted to empirically analyze the impacts of marijuana legalization by comparing developments in Colorado and Washington to other states, which variables would you include in your analysis?
Jane uses an online dating service. For each of the following activities say whether Jane is screening or signaling.
In pure competition-marginal revenue
what single payment at the end of year 5 is equivalent to an equal annual series of payments of $800 beginning at the end of year 3 and ending at the end of year 12? The interest rate is 8% compounded annually
Val-lok industries manufacture miniature fittings and valves. Over a period of 8 years, the costs associated with one product line were as follows: initial investment cost of $22,000 and annual costs of $20,000. Annual revenue was $24,000. What rate ..
Suppose that the cost of a unit of capital is r and the price of a unit of labor is w and the level of output is y. Write down the long-run total cost as a function of w, r, and y.
Consider a monopolist that produces a good at a constant marginal and average cost of 5$. The market demand is given by p=53-Q. find the deadweight loss and the consumer surplus and the elasticity of demand (absolute value) at the optimal output
Illustrate what is the basic objective of monetary policy. What are the major strengths of monetary policy.
From FDR's Folly Chapter 13: Explain why there was not widespread support for a U.S. federal pension plan prior to 1935. Explain why there is a pervasive misunderstanding that citizens who have paid Social Security taxes are entitled to benefits when..
Assume the following values of an economy. What is the equilibrium income? What is the value of saving at equilibrium? Does the saving and Investment Identity hold true at equilibrium income OR GDP?
What is average length of "place order line". What is average length of "pick up line". What is average number of customers in drive through area.
A firm has a production function Q = F(K,L) with constant returns to scale, where K is units of capital and L is units of labour. Input prices are r = $2 per unit of K and w = $1 per unit of L. When it produces 5 units of output, it uses 2 units of c..
There is a dollar on the table, which each player can try to grab. If only one player grabs, G, and the other does not, D, the player who grabs gets the dollar and his payoff is 1, Which strategy profiles are Pareto Optimal?
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