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Assume that the regulator knows the marginal cost of abatement fairly well but there is uncertainty about marginal benefit of abatement. Depict the potential dead weight loss (DWL) that might result from using emission fees based on expected marginal benefit.
1. what is the major problem in achieving an efficient use of the worlds water? if there were a global market in water
when wal-mart locates in a smaller town often the local retailers e.g. hardware clothing and appliance stores are
Suppose Microsoft chooses to produce 80 million copies of the software per year and sells copies of the software to retailers at $199 per copy. Now consider the problem of a retailer like Circuit City or Best Buy. Such retailers can sell as many c..
During 1980's the movie Wall Street seemed to accurately capture themes of the day. Michael Douglas starred in movie as Gordon Gecko
What are the equilibrium rent and number of rooms? If the college puts a rent ceiling on rooms of $650 a month, what is the rent and how many rooms are rented?
Crepe Creations is considering franchising its unique brand of crepes to stall-holders on Hermoza Beach
What are the marginal rates of substitution for each person and what is the formula for the contract curve and draw an Edgeworth box, labeling carefully, and indicate the contract curve.
explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram
Sandra purchases 5 pounds of coffee and 10 gallons of milk per month when the price of coffee is $10 per pound. She purchases 6 pounds of coffee and 12 gallons of milk per month when the price of coffee is $8 per pound.
Calculate the marginal and average variable product of each unit of labor input. Hint: plot your Units of labor and Units of Output vertically. Calculate total, average total, average variable, and marginal costs.
Suppose that a profit maximizing companies short run cost is TC=700+60Q. If the demand curve P=300-15Q, which of these options should it do in short run?
A consumer lives three periods, called the learning period, the working period, and the retirement period. Her income is 200 during the learning period, 800 during the working period, and 200 again during the retirement period. The consumer's initi..
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