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1. Describe some of the ways that externalities can be internalized
2. Which two characteristics define a public good? Provide an example of a public good that was not discussed in the chapter.
3. What is the tragedy of the commons? Give an example that is not in the textbook.
Countries are staking out territorial claims to parts of the polar region. Explain how ownership of these mineral resources will influence the amount of damage done to the Arctic Sea and its wildlife.
Using market supply and demand analysis, explain why labor union leaders are strong advocates of raising the minimum wage above the equilibrium wage.
Many states have passed laws that immunize owners of undeveloped land from liability if they open the land for recreational use. What outcome in (a) will result under this rule?
A loan of P0 which accrues an interest i per period is to be paid of with a uniform gradient annuity with initial payment A and gradient G over n periods. Thus, the change in the amount of principal is governed by Pn =Pn-1(1+i)-A0 -(n-1) G (1)
Assume TC stands for Total Cost, TFC as Total Fixed Cost, TVC as Total Variable Cost, ATC as Average Total Cost, AFC as Average Fixed Cost, AVC as Average Variable Cost, and MC as Marginal Cost. Unit of Output TC TFC TVC ATC AFC AVC MC
The cup is placed over the pill and as the cup is pressed down, the pill is split into pieces which are contained inside the cup. Because the cup is above the pill, persons can see how the pill is cut and keep the pieces contained.
Describe-in-detail-how you would prepare Gen Xers for promotion to leadership roles. How would you structure the leadership development for Gen Xers? 200 words
Suppose a competitive firm produces spaghetti dinners. The market price of a spaghetti dinner is $20. The cost of making the dinners is given by C(Q) = 10Q + (Q2/160). The marginal cost is given by MC = 10 + (Q/80).
Managerial capitalism is a phrase we hear less today than in the Golden Age. Why do you suppose it has dropped out of fashion? What changes do you think might bring it back?
Assume a model with a Keynesian aggregate demand curve and an ordinary upward-sloping aggregate supply curve. Using this model, please show the effects of the following events. Describe what happens to the price level and real GDP.
In many countries the capital owned by nonresidents is taxed. What are the effects of such tax exporting? Is it profitable to subsidize capital owned by nonresidents?
Estimate the three multiple regression coefficients. Estimate their standard errors. Obtain R2 and R2-. Estimate 95% confidence intervals for B2 and B3
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