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The National Park Service Monopoly. The National Park service grants a single firm the right to sell food and other goods in Yosemite National Park.
a. What are the trade-offs associated with this policy? Who gains and who loses?
b. Does your answer to part (a) depend on whether the monopoly is granted as a political favor or auctioned to the highest bidder?
Hasn't the Fed already tried quantitative easing? When? What were the results?Discuss the method of quantitative easing used by the Federal Reserve during the most recent U.S. recession, including any criticisms of this action.
How does a minimum wage imposed under monopsony differ in results as compared with a minimum wage imposed under perfect competition? (Assume the minimum wage is above the market-determined wage.)
A $40,000 machine will be purchased by a company whose interest rate is 12%. The installation cost is $5K, and the removal costs are insignificant. What is its economic life if its salvage values and O&M costs are
The consequences of unconsciousness and unexamined judgments, prejudices, assumptions, stereotypes, and "ways of seeing" can be deeply tragic. Explain how these consequences can lead to human disconnection, marginalization, hatred, and even the mo..
What is your advice to return to the equilibrium situation?
A small company manufactures a certain product. Variable costs are $20 per unit and fixed costs are $10,875. The price-demand relationship for this product is P= -0.25D + 250, where P is the unit sales price of the product and D is the annual dema..
The attendant quotes you $100. Suppose you rate the opportunity cost of getting back in your car and sampling another price at $5. Assuming you're risk-neutral, what should you do A. Sample another price. B. Stay at this motel.
Consider the market for rainbow sandals. Suppose average household income increases from $44,000 per year to $61,000 per year. As a result, the demand for rainbow sandals increases from 427 to 535.
A market contains two types of consumers, green and yellow. Each green consumer has a demand of P = 20-Q. Each yellow consumer has a demand of P=16-Q. These are individual demand curves. The monopolist who sells to these individuals has a MC
Is the ATC sloping up or down at the current equilibrium? [Hint: is the MC above or below the ATC at the chosen output?]
using the following equation for the demand for a good or service calculate the price elasticity of demandcross price
Could these have been avoided?
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