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Describe 2 statistical techniques to research economic data while studying property market?
A man is buying a small garden tractor. There will be no maintenance cost during the first 2 years because the tractor is sold with 2 years free repairs. The third year the maintenance is estimated at 80. Subsequent years will increase by $40 per yea..
Explain why the price of gas has changed. Identify some of the market factors that led to the price increase. Consider the determinants(supply or demand) that affect it. What is the impact on the market equilibrium as a result (due to a shift)? Give ..
You produce goods in a competitive market. You discover that the marginal cost of the last good you produced is the same as the market price for the good. You should:
1. Develop a more detailed (than the ones presented above) model of household consumption spending - explain and justify your model.
The current price charged by a local movie theater is $8 per ticket. At the current ticket price, the theater typically sells 300 tickets per showing. If the theater raises ticket prices to $9, the theater will sell 270 tickets. Assuming that the dem..
What does it mean for firm to operate with increasing economies of scale? Constant economies of scale? Diseconomies of scale?
Natural resource economists often speak of an “existence value,” which is a value that people place on a natural asset not because they use it but merely because it exists. For instance, a person who never visits the Florida Everglades, nor plans to,..
Suppose the domestic demand and supply curves are given by: Derive and graph the import demand schedule for the economy. Calculate the welfare impact of the tariff. Show the welfare gains and losses on import demand graph? What are the welfare effect..
What are financial intermediaries and what do they do. What information problems exist in financial relationships and how do financial intermediaries help solve them.
Wood can be purchase for $55 per unit in July. If the purchaser waits until November, the cost of wood is $70 per unit. Calculate the annual rate of return the purchaser would receive by buying wood in July instead of November.
Suppose the following system of equations: MAC = 60, 4E, MD = 2E, where E=level of emission per month. Solve for socially efficient equilibrium. Show it graphically. Compute total damage (TD) at this equilibrium.
Describe the relationship between costs and values in a society affected by externalities. Discuss the options that people and governments have to take account for their actions in these markets. Include comments regarding equilibrium and welfare dyn..
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