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1. The efficient level of a negative externality is always a positive amount (circle one: True/False). Briefly explain your answer.
2. Examine the graph of marginal benefits and costs of abatement below. Suppose regulators expect these curves to be as shown but are uncertain as to whether or not the marginal costs of abatement curve will be higher or lower than depicted. If regulators must choose between an emissions tax or tradable quotas, which would be preferred from the perspective of efficiency, given the uncertainty in costs of abatement? Explain in a short paragraph and illustrate on this graph.
Rivalry and excludability are the two characteristics of goods that are produced through the competitive market system. Compare and contrast the difference in private and public goods based on these two characteristics.
give a numerical example to show that a monopolists marinal revenue can be upward-slping over prt of its range. hint
how does a persons individual moral philosophy influence his or her business decisions?compare and contrast the three
1. part i draw a budget constraint and an indifference curve for an individual who works in period one and is retired
assume the graph below represents the market demand for a patented prescription drug together with the long run
suppose the equation for demand can be expressed as p 120 -.65q p price of a good and q is the quantity of the good
Calculate the expected value of the "lottery", in which Maria participates and calculate the utility of the expected value of the lottery.
Calculate the profit maximizing price and quantity of subscriptions for the U.K. and indicate each on the appropriate graph. Do the same for the U.S.
1. why do you suppose that the market clearing interest rates on bank savings and time deposits have been rising
Write the equation(s) for the new budget constraint
n a competitive market, all customers pay the similar price for the goods and services. Using the idea of consumer surplus, describe why each individual would be willing to pay a higher price
Students fascinated with your explanation and eager to learn more, ask about the shape of the demand and supply curve in each industry. Provide a demand and supply graph for each industry to explain. Label equilibrium price and quantity.
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