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Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant.
1.What two policies could you use to reduce the total amount of emissions?
2.Why do you think they each would work?
3.What would the benefits of each action be (besides emissions reduction)?
4.What would the costs of each action be?
5.How would you decide what was the best level of emission reduction?
You've been appointed by an unprofitable firm to determine whether it should shut down its unprofitable operation.The firm currently employs 70 workers to produce 300 units of output per day.
Calculate medal shares for total medals won, for each country, by year. The medal share for country in a year is the proportion of the total number of medals awarded in that year's Olympics that is awarded to the country. To calculate the me..
This is a self-reflection paper developed based on the classroom discussion around minimum wage. Explain the effect minimum wage has on the economy. List and describe both the pros and cons of the more recent increases in the federal minimum wage...
a statewide sample survey is to be made. first, the state is subdivided into countries. Seven countries are selected at random and further sampling is concentrated on these seven countries. what type of smapling is this
Define scarcity and opportunity cost. What role these two concepts play in the making of business decisions? What is Marginal Analysis ? (b) Why Is Marginal Analysis Important in Economics? (c) What is the role of Marginal analysis ?
Based upon your own internet research, identify and comment on two supply-side initiatives included in the current U.S. stimulus package. Ensure your response includes one strength and one weakness in each of these initiatives.
Suppose you are an industrialist begninning a biotechnology company. If your research is successful, technology can be sold for $30 million. If your research is unsuccessful, it will be worth nothing.
After Henry ford invented the assembly line for producing automobiles, other automobile companies copied his invention. The new technology rise the economies of scale in automobile producing.
Assume that the unemployment profits provided through the private sector are raised permanently,
Three machines are employed in isolated area. They each produce 2,000 units of output per month, the first requiring $20,000 in raw materials, the second $25,000, and third $28,000.
At what level of L does the average product reach its maximum and does the total product curve have a region of increasing marginal returns?
What would happen to each of the following economic varibles if the government increased the money supply by 20% per year: M1, interest rates, inflation and wages What impact does increasing or decreasing the printing of money have on the economy ..
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