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Are the following statements true or false?
a) “If the assumptions of the median voter model hold, then using majority voting to determine the amount of a public good purchased by a city will lead to either an efficient level of the public good being provided or an under-provision of the public good. It cannot lead to an over-provision of the public good.”
b) A prominent senator has calculated the total social benefit of the current amount of space exploration at $3 billion per year. The total social cost of space exploration is currently only $2 billion. The senator argues that there would be a net gain to society by increasing the amount of space exploration until total costs rise enough to equal total benefits. Is the senator correct?
Lean Burger's drive through receives 20 customers in every ten minutes of business time.
One day you realize you're tired of smelling like refried beans all the time and begin thinking about starting your own business. After doing some investigation you decide to spend 15 hours per week running a photocopy service in your dorm.
Who has the same preferences as Bill?. Who has the same indifference curves as Bill? Explain why the answers to (a) and (b) differ.
Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1954? Check all that apply
Suppose a uniform pricing monopolist's price equation is P(Q) = 120 - Q; the uniform pricing monopolist's marginal revenue is MR(Q) = 120 -2Q; the uniform pricing monopolist's total cost is C(Q) = Q^2 + 40Q + 150; and the uniform pricing monopolist's..
Explain how a bandwagon effect might speed up the rate at which DVD players are adopted by consumers. Do likewise for the case of cable television subscriptions.
q.the long-run average cost curve for a firm in an industry isatc 10q2 - 50q 100 as well as its marginal cost ismc
What is the impact of free trade on domestic job creation policy? Elaborate with examples. What are the impacts of outsourcing and off-shoring on trade liberalization (globalization) and economic structure?
q.a manufacturer of computer workstations gathered average monthly sales figures from its 56 branch offices and
Conduct an analysis of a recent article and provide your evaluation and outcome expectations in an articulate and informative paper that discusses: Identification of three to five macroeconomic indices. Definition and explanation of the indices, e.g...
Elucidate how do you expect the demand and supply of the good or service to change in the next year. Support your answer.
If a project is efficient (its total benefits exceed its total costs), would it be possible to allocate the cost of the project in a manner that would provide net benefits to each voter? Why or why not? Explain. Will efficient projects necessarily be..
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