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1. Know how to do the static/dynamic efficiency problem.
Suppose the marginal benefit and marginal cost of extracting a nonrenewable resource is given by MB = 60 -0.5Q, MC = 10.
1) Graph the dynamically efficient market for two periods on one graph.
2) Graph the dynamically efficient market for each period on it's own graph. Suppose the government sets a price control equal to 20.
3) Illustrate the deadweight loss that results from the price control in each period. Why is this a deadweight loss? (Hint: Now that you know the dynamically efficient quantity and price for each period, graph each period on it's own graph. Impose the price control. Find the quantity that occurs in the 1stperiod with the given price control. How much is left over for the 2ndperiod? Find the deadweight loss in each period.)
2. Cap, Tax, or Neither? Please answer the each question around 5 sentences. And reference the attached articles.
Now suppose as a result of a mandated increase in the minimum wage the wage increases to $80. What would be the implication of this change for this firm?
The Sarbanes-Oxley Act provides for the establishment of the _____________ to over see audits of public companies. This will be done to protect the interests of shareholders and investors.
q. a monopolistic firm control in 2 separate markets. no deal is achievable between market a as well as market b. the
Could not Ethiopia become a world class producer and exporter of goods? How would Ethiopia compare with Japan? Japan is a country relatively POOR in natural resources, yet it is an economic world powerhouse. What are the differences between the tw..
Illustrate the way in which market forces shape the organizational responses using a range of examples.
Explain the concept of more is better satisfied for both goods. Elucidate as C increases the MUC increase, decrease or remain constant.
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Determine one possible combination of government spending increases and tax increases that would accomplish the same goal.
Trace a copy of this diagram. Graphically depict the substitution and income effects. 2.2. Which effect is strongest? How can you tell?
Illustrate what established the permanent membership number in the House of Representatives.
Empirical estimate of the price elasticity of demand indicate that teams actually price in the inelastic portion of the demand curve. Give one example why teams might price their tickets like this.
Who in the U.S. government is responsible for computing also reporting the consumer price index.
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