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Q1. In the Undercover Economist, Harford discusses Greenbelts. What is a Greenbelt and how does it affect demand and/or supply? What are other examples of "greenbelts"?
Q2. Government data that computes averages, such as the consumer price index, are applicable to everyone. For example, the inflation rate since this time last year is reported to be 1.7%. Therefore, elderly individuals who complain about the increasing cost of their medications have no real complaint. Discuss.
If the demand curve is much more inelastic than the supply curve, clarify whether buyers or sellers will shoulder more of the tax burden from a new tax placed on the sellers.
What would be the total profit of the firm if it sells the entire output at a cost of Rs. 60 per unit.
Use the 2007 numbers in the first column to compute, for each of the four countries, the percentage gap between the steady-state ratio.
What do you imagine about the interest on payday loans is too high or just right.
If the market price of the product is 270, how much output should the firm produce in order to maximize profit. How much profit will this firm make.
What is the difference between a production function and an quant. Explain the law of variable proportions with the help of quant.
Suppose that the US government determines that cigarette smoking creates social cost not reflected in the current market price an equilibrium quantity of cigarettes.
Explain the logic of the Ricardian view of government debt and evaluating its practical relevance.
You arranged the subsequent information to use in evaluating the financial feasibility of starting your own agency.
Howard Bowen is a large-scale cotton grower. The land as well as machinery he owns has a current market value of $4 million.
Explain and show graphically the effect on the supply and demand for Bonds in a deflationary period. What is the effect on interest rates and the quantity of bonds.
Write down the profit maximization problem for the rm.
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