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A paint factory produces paints, but in the process transmits chemicals into the soil below the factory. These chemicals taint the soil such that the farmer whose land abuts the paint factory property experiences a reduction in soil quality and hence crop output. Assume the paint company's marginal benefit (demand) curve for its output is the following:
300-Q. It's marginal cost of producing is as follows: MC = 20 + Q. The farmer experiences a reduction in farm profit that can be described with the following Marginal Damage curve: MD = 40 + 2Q.
1. What output level does the paint company choose?
2. What is the socially optimal level of output?
3. Describe a possible Coasian solution to the externality problem.
4. What corrective tax could the government set to achieve the socially optimal level of output from the paint company?
Explain, using the statistics of government expenditure, personal taxation rates and transfer payments , what fiscal policy stance did the 2011-12 Federal Budget take?
decisions how indusrtry make important decision with so much economical unrest.
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Explain how the central bank in a modern economy operates; in particular, how it tries to control the monetary base (H), and thus the quantity of money (M) via open-market operations.
For a developing country to increase, it needs capital. The major source of capital in most nations is domestic saving, but the target of stimulating domestic saving usually is in conflict with the government policies targeted at decreasing inequalit..
A symetric information can have deleterious effects on market outcomes. Discuss a few tactics that managers can use to overcome these problems.
Discuss the appropriate discretionary fiscal policy that the government should adopt, given the above situation.
A woman managing a photocopying establishment for $25,000 each year make a decision to open her own duplicating place. Her revenue during the first year of operation is $120,000, and her expenses are as follows:
for the nation as a whole the expansion of production of one product must involve a decrease in the availability of the other.
If every time real GDP exceeds potential GDP, contractionary policy is used & whenever real GDP is less than potential GDP, GDP equal potential GDP and then aggregate demand raised.
The utility function of a worker is represented by U(C,L) = C X L, so that the marginal utility of leisure is C and the marginal consumption is L.
Illustrate and explain the interaction of households, businesses, government and global markets in the circular flow of economic activity.
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