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1.Explain why children are often viewed as public goods by two parents.If children are public goods from the household perspective, what implications may yield onthe effcient allocation of investment on children within a marriage?
2. Suppose you are going to a fancy restaurant with your date, there is an implicit agreement that you both jointly enjoys a meal but you are going to split the billevenly (date plan 1). Alternatively, you can go Dutch- not sharing the meal and everybody pays for themselves (date plan 2). Which bill is higher? Under date
1) What is development? 2) What are the essential things we require? 3) State things other than income,people seek as non materialistic?
Suppose savers either buy bonds or make deposits in savings accounts at banks. Initially, the interest income earned on bonds or deposits is taxed at a rate of 20%. Now suppose there is an increase in the tax rate on interest income, from 20% to 25%...
In evaluating the accuracy of their statements, should one distinguish between (i) economist’s descriptive statements, propositions, and predictions about the world, and (ii) their statements about what policies should be adopted. Explain in detail
Which of the following types of costs is more relevant when making production decisions? a) Marginal costs b) Sunk costs c) Fixed costs d) Average costs
Under perfect competition, what is the equilibrium price? What is the economic profit under monopoly? (in millions) What is the economic profit under perfect competition? (in millions)
What is the efficient level of for this firm? How much profit would Elm Industries earn at this level of production? How much would total damages be? What would be the net benefits?
Explore how a firm determines the optimal scale of a plant for a given rate of output and why this determination relates to longer-run strategies versus current operations. Also, discuss the differences between economies of scale and economies of sco..
Which of the following is NOT true about a differentiated-product Bertrand duopoly?
Jimmy's Clothing Store headquarters are in California whose corporate tax rate is 8.23% regardless of earnings. . The corporation expects its revenue in 2015 to be about $8,597,877. Base you answer on assuming that number wil be correct. Considering ..
q1. mark consumes only cookies and books. at his current consumption bundle his marginal utility from books is 10 and
According to a recent report in The Economist, the price of tuna has been rising rapidly in the past few years. The prices has risen due to a rightward shift in the demand curve caused by a shift in consumers' taste to healthier sources of protein. D..
Problem 1: Assume that the long run total cost function for each firm in a perfectly competitive industry is LRTC = q3 - 4q2 + 8q and the market demand function is Q = 2000 - 100p. Calculate:
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