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Describe an environment in which permit trading can contribute to economic efficiency. How do permits make such a contribution Why in a traditional model are permits and Pigouvian taxes considered equivalent in implementation? Give a reason that in practice they may not be.
Suppose as a manager of a profitable department store you are confronted with a pricing problem. You have two types of customers: a high-end type that willing to pay a price of $ 25 for a pair of Levis Jeans and a low-end type customer that are willi..
The Short Run Total Cost of a firm is given by C= 190 + 53 Q. Find out the firm's total fixed cost. Find out the firm's total variable cost. Find out the firm's short run marginal cost.
What is the current U.S. Fiscal Policy – is it expansionary or contractionary? If the current GDP has declined or expanded over the past 2 quarters at least, which of the tools of fiscal policy would you use to try to rein in the economy and how is t..
Suppose the MWTP in periods 1 (now) and 2 (one year from now) is given by P = 8-0.4q. Marginal extraction cost = $2. r = 20%. The available supply is 20 units. Calculate the allocation of outputs across the two periods that maximizes the present valu..
Illustrate what is currently occurring to the supply also demand for labor also its effects on wages, union membership, also other labor force related topics.
Two consumers Jorge and Admen, together own 1,000 baseball cards and 5,000 Pokémon cards.
Consider two workers with identical preferences. Phil and Bill. Both workers have the same life cycle wage path in that they face the same wage at every age, and they know what their future wages will be. Leisure and consumption are both normal goods..
How does Supply and Demand play a role in economic thinking? What factors influence economics that don't directly relate to it? How does public choice economics influence the market?
Jefferson Smurfit Company is a multibillion-dollar supplier of packaging materials. The tradesperson's action is typical of the corporation's trades philosophy
Explain demand schedule and demand curve, and how they are related? Why does the demand curve slope downward?
The demand for good x1 is given by: (m/p1) - (p1/p2), where p1=1, p2=1, and m=10.Which of the following accurately describes the INCOME elasticity of demand?
Suppose an investment broker contacts you with the following information. “Opportunity, Inc. is currently selling for $5 a share. I just found out that the company has discovered a cure for cancer. Its price is sure to triple in three months.” How sh..
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