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Natural resource economists often speak of an “existence value,” which is a value that people place on a natural asset not because they use it but merely because it exists. For instance, a person who never visits the Florida Everglades, nor plans to, may nonetheless place a value on preserving it. Is this “existence value” a rival or non-rival good?
Which of the following conditions are necessary for the existence of a Nash equilibrium?
When companies expand into the international arena, they do so either because their home market has matured or because they see real opportunities in the foreign market. Discuss which kinds of international strategies are most appropriate for compani..
Suppose the club did NOT charge a membership fee: explain how much money would the family spend on food? How much food would the family buy?
q. suppose that a ton of steel currently sells for 2000in united states and for euro2000 in germany. the exchange rate
Two major highways that affect traffic flows in Orlando include Interstate 4 (I-4) and State Road 408. Motorists are not required to pay a toll to drive on Interstate 4, whereas they are required to pay a toll to drive on State Road 408. If at a give..
Suppose my supervisor tells me to dispose of some regulated toxic substance by dumping it down the drain. In this case part of my problem is that I have been ordered to do something that is potentially injurious to human health and, furthermore, ille..
Research and write a 2-3 page paper on the economic impact of globalization on the US the labor market (such as jobs, demand, supply, efficiency, productivity e.t.c). Critically analyze. Support your analysis with body of knowledge.
Ossuary produces whole wheat bread which sells for $3 a loaf. In order to produce an additional loaf of bread, it would cost Ossuary $3, but the average loaf only costs them $2.50. Assuming that the market for bread is competitive, is Ossuary in shor..
Suppose you are the economist of Didier Enterprises - a firm that manufactures ballistic missiles. Based on the estimates provided by a consultant, you know that the relevant demand and cost functions for the missiles are Q= 25 -.5P and MC = 2. Assum..
Research deflation in Japan and explain what happened to the equilibrium price level in Japan during the early 2000s. How did Japan's equilibrium price level adjust between the middle of 2008 and early 2010?
Three policies used to restrict trade are: Tariffs, Quotas, and regulatory trade restrictions. Discuss pros and cons of each. If the government has to decide on one which one it will?
A firm’s production function is given by: f(L,k) = L^1/2 , where L is the only input into production and it is variable in both the short and long run. Draw the long-run conditional labor demand in (L,Q) space (in other words, with L on the x-axis)
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