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A. What if the government needs to purchase a single, large piece of property in order to provide a public good, say, a satellitetracking station? There is only one private owner with whom to deal. And his property is the only one that is suitable for the station. Should the government be allowed to compel this individual, a monopolist for the contemplated public use, to sell at fair market value?
B. The public use requirement for governmental taking has recently been the subject of litigation and commentary. Consider this example. The downtown area of a large city is blighted by decades of economic depression and neglect. The municipal government believes that the economic well-being of the community requires a vibrant and attractive downtown area. So, using its power of eminent domain, the government takes much of the rundown property and turns it over (at a price far below market value) to a private real-estate development company with instructions on how the company is to invigorate the residential and commercial life of the downtown area. Is this taking efficient, even though the property has been turned over to a private party?
Suppose you are told that price of Toyotas' has increased from last year as has the number bought and sold. Is this an exception of the law of demand, or has there been a change in demand or supply that could account for it.
For years, local and state agencies, as well as the federal government, have struggled with what should be done with those offenders who have been sentenced to prison for violations of the law. Two popular options remain: house them (retain) or rehab..
What would the equilibrium price and quantity be? How much profit is made in the industry and by each firm?
Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
assume an economy lasts for 2 periods. in period 1 only 1 agent is born this agent lives for 2 periods. in period 2 two
In the year 2011 the prices at which producers sold their output were quite real to those producers. If they had tried to sell their products at 1983 prices their customers and stockholders would have rightly thought the producers had lost touch with..
Suppose that the government places a ceiling on the price of a medical drug below the equilibrium price. Explain why there is a shortage of the medical drug at the new ceiling price.
Suppose demand for the firms watches falls permanently to P = 20 - Q/20,000. In view of this fall in demand, what output should the firm produce in the short run? In the long run? Explain.
Some theories have a zero-sum perspective of political stakes, while others believe stakes are non-zero-sum. __________ agree with respect to the nature of political stakes in the world
Why does nearly every purchase you make provide you with consumer surplus - compared to the short-run supply of rental housing, long-run supply.
Average fixed costs in the short run:
One of the disadvantages of the joint venture market entry method is that it does not give the tight control over subsidiaries that it might need to realize experience curve or location economies. How do you solve this dilemma?
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