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Use urban Economic and base economie to answer these short answers
(a) Why do cities exist? Why don’t we all just live on large lots of land in Texas/rural Ontario/etc? We could be self-sufficient and avoid all the hassles of city life. (b) Why is Bay Street a thing? Wouldn’t each of the financial firms be better off being in a smaller city away from each other? They would have less competition, could offer their employees less money due to lower cost of living, and have lower rent. (c) Why is Las Vegas so much cheaper than Toronto? It is lower rent per square foot of living space, shorter buildings, larger home sizes, lower density. Why? (d) If economists are such big fans of congestion pricing, why don’t we see it more often in the real world? (e) How could we implement congestion pricing so that it would make all road users better off?
The Clean Air Act and its amendments increase the production costs of the firms in a covered industry through increased:
Using economic analysis and the guiding principles of sustainability, between the farmer subsidy solution and the principles of sustainability solution, justify which solution is best? Why?
Illustrate If G rises to 200 and T rises to 150. How much would the GDP change as a result.
Walter receives cash of $18,000 and land with a fair market value of $75,000 (adjusted basis of $50,000) in a current distribution. His basis in his partnership is $16,000. What amount of gain must Walter recognize as a result of the current distribu..
When should this item be reordered. What could be the risk of stockout would result from a decision not to have any safety stock.
The Tampa Tribune and the St. Petersburg Times compete for readers in the Tampa Bay market for newspapers. Recently, both newspapers considered changing the prices they charge for their Sunday editions. Tampa Tribune's dominant strategy is __________..
A consumer's bundle includes two normal goods, good X and good Y. According to the income effect, a(n) ______ in the price of good X or ______ in the price of good Y will cause the consumer to buy less of good X.
Two firms, 1 and 2, simultaneously pick prices, p1 and p2, respectively, where p1,p2 ≥0. Both firms have constant (and identical) marginal costs, denoted c>0. Demand is given by D(p), where p is the lowest price, p = min {p1,p2}, If the two firms cha..
Under U.S. copyright law, authors have the exclusive right to their writings during their lifetimes – unless they sell this right, as most authors do to their publishers – and their heirs retain this exclusive right for 70 years after their death. Di..
Shortly discuss how the development of the Internet has changed the market structure in which companies operate. Assume that most firms can be categorized as being in perfect competition, monopolistic competition, oligopoly, or monopoly. Keep in mind..
To set a tax rate at the appropriate level to maximize its tax revenues, a government must engage in
(Price Posting) A monopolist supplies to a market with (inverse) demand given by D(Q) = 100 ? Q. The monopolist has constant marginal cost c = 2. Compute the monopolists profit-maximizing supply choice and the corresponding mark-up over marginal cost..
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