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What are the four sources of market failure? Explain how each of them causes individual profit- and utility-maximizers to make decisions that may be privately optimal but are socially suboptimal. What general policies might correct each of the instances of market failure?
The Yankees have determined that there are 3-groups of purchaser for their tickets. They have determined that the price elasticity of demand for group one is -1.02,
Many controversial issues in public finance concern when a central authority should allow markets to work and when it should intervene. Generally we think of the government as the central authority, but it could be a university as well.
In recent years, the Internet auction firm eBay has sougth to make its auction technology the favorite of software programmers, and it has begun licensing its technology to other Web sites. The company's managers have pulicly stated
Now suppose the price of apples is back at $2, but a hurricane destroys half the orchards. Calculate how the hurricane affects the income of each worker and of each remaining orchard owner. What happens to the income of Ectenia as a whole
Use hypothetical numbers to explain. Information you need to provide include--state the product you are selling, the price of the product, the quantity of the product you produce, fixed costs, total cost, figure out total revenue, total and averag..
Illustrate what research did Krueger use to "help win" a rise in the minimum wage in 1996. What did his results show.
Do you think business cycles would exist, or be as severe, if these economic statistics were not reported on a regular basis or at all? Why or why not?
Aaron Hank is a star hitter for the Bay City Baseball team. He is close to breaking the major league record for home runs hit during one season, and it is widely anticipated that in the next game he will break that record.
Use the following data for apure monopoly to calculate the firm's: (a) total revenue,marginal revenue, marginal costs, and average total cost; (b) itsprofit-maximizing output level and produce price
In a simple economy assume that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. Compute gross domestic product from the following set of numbers.
Could you please explain fully the difference among an increase in demand and an increase in quantity demanded, by giving an example of what would cause an increase in quantity demanded and please illustrate the effect of such an increase with a ..
Describe how a correctional officer's pay is determined and how the salary is structured. Discuss what your chosen state can do to increase the supply of correctional officers.
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