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Throughout the course we have discussed the role of property rights in natural resource economics and management. We have discussed the role of rights in the context of water, fisheries, and land resource management. In a well organized essay, describe: 1. the characteristics of private property; 2. two other property rights arrangements; 3. at least three policies or institutional arrangements that have been developed to address property rights challenges in natural resource management.
What price should the leader charge to drive all the small firms out of the market? Write the marginal revenue function of the dominant firm.
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Draw the budget constraint for the individual with the composite good on the y-axis and food on the x-a..
Illustrate what is the maximum amount he or she would pay for insurance against a 50 percent chance of losing 3,600.
A firm has enough retained earnings to finance an investment project. For this firm, the market interest rate:
Derive IS curve by one of standard methods used in Macroeconomics. Explain in writing to illustrate what market your derivation brings equilibrium and explain how it accomplishes this.
Suppose regression of y on x with a sample of size 37 yields 2 R = 0.4. What is the correlation coefficient between y and x?
When he took over the furniture factory three years ago [the manager] realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap.
Suppose that a biotech firm makes diagnostic tests and has a fixed-proportions production function in which one unit of output (diagnostic test) is produced using one worker and two units of capital (machines). If the firm has an extra worker and no ..
Demonstrate graphically the cost of income taxation of 30% to consumers and producers for an income of $27,908?
Find out his utility maximizing H and L. Assume he is not eligible for welfare. Now assume he is eligible for welfare. Does he take welfare or work.
Master Card has a series of cute commercials that list a series of accounting items also costs leading to a costless product.
When interest rates (IRs) decrease, how might businesses and consumers change their economic behavior? If there is a decline in the money growth, what might you expect to happen to real GDP (real output) and inflation rate?
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