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A public good is one that will not be produced for individual profit, since it is difficult to get people to pay for its benefits. A public good is defined as an economic good which possesses two properties: Non excludable and non rivalrous. A free rider are people or firms that consume a public good without paying for it . How do we deter free riders? What is the cost (to society) of free riders? Give an example of a public good that has a large amount of free riders. How can we change this?
Make two income statements, are utilizing the traditional accounting approach another using the opportunity cost approach to determine the profit.
Do recent economics actions justify greater regulation in the financial services industry Wall Marts continuous replenishment system illustrates a tactical utilize of information services.
How does subsidy affect consumer surplus, producer surplus, tax revenue and total surplus. Does a subsidy lead to a deadweight loss.
Illustrate what is repayment amount if you make a cash loan. Illustrate what does cost-of-carry of futures or forward pricing mean? Explain how is it related to storage cost of gold.
Illustrate what is meant by the term "natural monopoly" and what are the key characteristics.
What does this mean for your company? What is the cross-price elasticity for your product? What type of goods are Good A and Good B?
Assume to the firms act independently as in the Cournot model. Determine the long run equilibrium output also selling price for each firm.
Discuss how elasticities should be used in pricing decisions. If you were responsible for setting the price of these volumes, what would you choose and why.
What is the difference between demand for insurance and demand for medical care?
Assume no change in current productivity or current labor supply in either country. What is happening to financial flows.
Calculate the point elasticity of the firm's total sales revenue with respect to the amount of labor used when q = 2.
The private marginal benefit for commodity X is given by 50-5 X , where X is the number of units consumed. The private marginal cost of producing X is constant at $10. For each unit of X produced, an external benefit of $5 is imposed on membe..
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