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In the U.S., the command-and-control environmental laws of the early 1970s, together with the ensuing amendments and updates that have been made to them over time,
a) are given considerable credit for cleaner air and water in recent decades.
b) were an inexpensive incentive for industrial polluters to improve performance.
c) were necessary as US industries had zero incentive to control pollution.
d) draws distinction between the needs of firms and costly equipment upgrades.
Briefly define each of the following terms or phrases and briefly explain why it matters for tax policy.
Illustrate what is the gain in consumer's surplus for ABC fan that can get these sweaters at Target instead of at the ABC.
Analyze how prescription drugs affect the demand and supply of other products and services in this country.
The highway department expects the cost of maintenance for a piece of heavy construction equipment tp be $5000 in year , then increase to $5500 in year 2, and increase $500 annually till year 10. At interest rate 10% per year determine the present wo..
Explain how the following events would affect the demand for labor. A new education program administered by the company increases labor's marginal product.
Compute the average product of labor, APL, when the level of capital is fixed at 16 units and the firm uses 16 units of labor. How does the average product of labor change when the firm uses 81 units of labor.
Find out the Nash equilibrium prices of the procedures at the hospitals. Do the merger result in price increases.
Leadbelly Co. sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market.
What other economic factors are affected when taxes are raised or lowered, and how are they affected. Should the government increase tax rates on everyone as a way to equalize incomes and wealth.
Does federal revenue as a percent of GDP change with changes in tax rates? Explain with reference to the Laffer Curve concept.
Determine the market rate of substitution. (b) In your graph show the budget set. (c) If PX doubles, what happens to the budget constraint. Show this effect in your graph. (d) What is the meaning of the slope of the two budget constraints?
Suppose a firm pollutes a stream that has a recreational value only when pollution is below a certain level. If transaction costs are low.
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