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Edward takes 2 hours to cut a lawn and he cuts 100 lawns per year. He uses solar powered equipment and could be sold anytime for $20,000. Edward could earn $20.00 per hour as a pedicurist. The interest rate is 10%. Given his current output level, his marginal cost is ____
We saw in our hawk/dove game that a polymorphic ESS exists with a population of 70 percent hawks and 30 percent doves. But we could consider a mutant phenotype in this game that acts as a hawk 70 percent of the time and a dove 30 percent of the ti..
Imagine there are two polluters of a given substance with the following marginal-abatement cost functions MAC1=200-e(1) and MAC2=300-3e(2) where emissions are measured in tons/year and both MAC1 and MAC2 are measure in $/ton. Draw on a graph MAC1...
The rent for apartments in New York City has been rising sharply. Demand for apartments in New York City has been rising sharply as well. This is hard to explain because the law of demand says that
he country's policymakers decide to use Keynesian demand management policy to try to get to full employment. How much should government spending change?
What do economists mean when they say that the price system (free markets) promotes economic efficiency When are free market arrangements "inefficient" from an economic point of view Why is income inequality "efficient" from an economic point of v..
Provide an argument for or against trade. Explain your reasons. What should government do to support your argument.
Using a production possibilities curve, explain (using narrative and graphs) the opportunity cost principle. Please provide a “real-world” example where this principle would be applied in the public/healthcare/nonprofit sector.
When manufacturer decrease price for goods and services, it increase customer’s surplus and everyone standard of living. Therefore, it behooves government to impose below market value ceiling on customers goods,
As Suppose a country has no public debt in year 1 but experiences a budget deficiet of $40 billion in year 2 , a budget deficiet of $ 20 Billion in year 3 a surplus of $10 billion in year 3 and a budget deficiet of $2 billion in year 4. What is the a..
Construct a graph showing supply and demand in the electronic dog feeder market and how are the laws of supply and demand illustrated in this graph?
Let MUa=z=10-x and MUb=z=21-2y, where z is marginal utility per dollar measured in units. x is the amount spent in product A. y is the amount spent on product B. Assume that the consumer that the consumer has $10 to spend on A and B, that is x+y=10. ..
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
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