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1. What is meant by externalities? What are different types of externalities?
2. What are different types of externalities?
3. What is the Coase theorem? How is it related to externalities?
A particular good, an 8 percent increase in price causes a 12 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
Tucker's industrial engineers have informed management that hiring one additional worker will increase output by five units every hour
determine total project completion time and critical path for installing electrical wiring and equipment in residential houses. In addition, determine ES, EF, LS, LF and slack for each activity.
In Japan, pharmaceutical prices faced by consumers
Suppose the consumption behavior in problem 1 changes so that C=100+0.9Y, while I remains at 50. Is the equilibrium level of income higher or lower than it was in problem 1(a)? Calculate the new equilibrium level, Y’, to verify this. Now suppose Inve..
Jamie Dixon is the operations manager for Pitt Corp, a real estate investment firm. Jamie must decide if Pitt Corp is going to invest in a strip mall in Oakland. If the strip mall is highly successful, after tax profits will be $100,000 per year. Mod..
Under the first plan he pays $0.25 per minute of connect time. Under the second plan, he pays a lump sum of $30 per month and only $0.10 per minute of connect time. Determine David's optimal consumption bundle and his choice between the two plans.
How do fixed costs play a role in your analysis? What is the difference between shutting down and going out of business?
Suppose that inverse demand is given by D(Q) = 56 − 2Q, Q = q1 + q2 and the cost function is TC(qi ) = 20qi + f Find the Stackelberg equilibrium and compare it to the Cournot equilibrium. 6. What is the SPNE for the entry game with the following timi..
Consider the market for taxi service in Washington, DC. Use demand-supply analysis to explain the effects (i.e., increase or decrease) on the equilibrium price and quantity from the following (considers each case separately; and assumes that only one..
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class. Be sure to explain the key concepts and terminology of both microeconomics and macroeconomics.
Problems in the banking system eroded international confidence in Southeast Asian economies including those of Thailand, South Korea, and especially Indonesia which eventually leaded to the Southeast Asian crisis in 1997-98.
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