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ENVIRONMENTAL ECONOMICS OR MICROECONOMICS
1. Describe why alternative efficient allocations may have different total levels, and different distributions, of wealth.
2. Explain how the three assumptions of perfect competition, when satisfied, ensure that all market participants face identical prices. Do these assumptions hold in the real world?
What would be the advantages and disadvantages of a regulatory system in which , rather than having the FDA merely published its opinions about the safety and efficiency of drugs and the allowed physicians
Based on your understanding of frictional, cyclical, and structural unemployment, do you think that this high unemployment rate can be explained by frictional unemployment? Why or why not?
Compare and contrast how the marketing and economic approaches deal with this problem. 2 pages,Due 6pm EST. on August 09 2012.
Do you think the demand for mangoes is price elastic or price inelastic? Explain your answer based on the determinants of price elasticity of demand.
In order to bring about a socially desirable quantity of landscaping service, what should the government do? Explain in words and show the effect of the government action in a graph.
Suppose that the interest rate is 18 % per year, compounded annually. What is the minimum amount of money that would have to be invested for a two-year period in order to earn $1300 in interest?
Evaluate the impact of the proposal to cut prices on total revenue, totalcost, and total profits - Price and Output Determination:Monopoly and Dominant Firms
Assume that the price of silk ties in a perfectly competitive market is $17 and that the typical firm confronts the following costs: Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10 Total Cost 17 24 33 44 57 72 89 108 129 152 177
Because of the change they created for taste and preferences and the higher income market, the gourmet coffee houses had a win-win in a period of falling wholesale prices and increasing retail prices
For this week, we are continuing our discussion on GDP and economic growth. We will realize that most of government spending goes towards welfare such as social security. However, it is a common belief that social security benefits
What happens in the market for oranges if there is a hurricane that destroys the orange crop and explain why is strategic interdependence important for market structure of oligopolies?
Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages paid to the few workers he employs at the dairy and the grain he feeds to..
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