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Explain succinctly how can fertility choice be interpreted as an economic problem. That is, identify resources and competitive ends involved in the problem of choosing how many children to have.
Assume that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.
Which of the following is an example of "supply-side economics"? A. an investment tax credit B. a one-time tax rebate to low-income families C. a new Medicare drug benefit for the elderly D. an increase in Social Security benefits E. all of the above
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units (qi=20). The minimum average cost is $10 per..
What does IPO stand for? What are the primary and secondary markets for stocks? Are there advantages of going from a public corporation back to a private corporation?
The response conforms to appropriate requirements of the specific format,cover page included, with student name, student number, and tutorial time/room number clearly stated.
What is the rationale behind the minimax regret rule What are some less formal and precise mehtods of dealing with uncertainty. When are these useful. How does the adverse selection problem arise in the credit-card market. To what complaint does ..
If there is asymmetric information what is the optimal strategy for the workers What is the optimal strategy for the firm Is the employment contract between the firm and the workers self-enforcing If yes, why If not, which would be a self-enforcing..
In the old days lighthouses were built along the coast to prevent ships from runnung around on the rocks in unfamiliar ports. By shining a beam of light over a port and guiding ships away from the rocks, these vital buildings reduced the risk for ..
How do costs play into your everyday life For example, why might it be cheaper to drive on a toll-road vs. a free-access interstate? Also, can you identify situations where you may fall victim to the sunk cost fallacy (we all do)
Sunrise Surf Shop is willing to produce 30 surfboards in the month if it can sell each board for $300. If it can receive $500 for each board, the shop is willing to manufacture 70 surfboards.
Which country has a comparative advantage in producing fish? Explain why. Suppose that trade takes place between Kiribati and Tuvalu. Which good will Kiribati import from Tuvalu? Explain why.
Consider another policy where the government could impose a price ceiling p on the monopolist. If the government were interested in maximizing social surplus, what would be the optimal value of p when considered from the point of view of the gover..
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