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Environmentalists argue that we should protect the environment as much as possible, regardless of the cost involved. Which of the following is one of those costs?
A. Lower levels of nutrition and inadequate health care.
B. A higher standard of living, but less available housing.
C. Increasing technological advancement.
D. More expensive utilities, but lower taxes.
q1. consider an income guarantee program with an income guarantee of 6000 and a benefit reduction rate of 50. a person
Find the equilibrium price and quantity. Find the consumer and producer surplus at the equilibrium. Find the socially optimal level of output of paper. How can a corrective tax bring about this equilibrium? How much revenue would the corrective tax r..
How can we measure the opportunity cost of producing a good? Using a bowed outward production possibilities curve between ice cream and hammers, identify graphically the opportunity cost of obtaining an additional hammer. Does economic growth elimina..
Suppose that a company has a fixed proportions production function that requires it to use two machines and one worker to produce 1000 units per hour. Explain why the cost per hour of producing 1000 units is 2v+w (where v is the hourly rent for the m..
Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbour, Friday, is a fisherman, and is willing to trade 2 fish for every coconut that you are willing to give him. Another neighbor, Kwame, is also a fisherman, and he i..
Derive the simple bid-rent function for a model with only firms. Illustrate what factors can cause the city to grow larger.
Otto’s brother, Dent Carr, is in the auto repair business. Dent recently had little else to do and decided to calculate his cost conditions. He found that the total cost of repairing s cars is T C (s) = 2s2 + 10. Average Variable Costs: Average Fixed..
Do the following variables have a positive, negative, or roughly zero correlation in a cross- section of countries: GDP per capita and the number of books published (hard copy + electronically) per capita?
The Atlanta Hawks owner Tony Ressler decides that by spending and additional $10 million, he anticipates the team will finish one place higher this season. If true does this mean he can raise the team’s place in the standings by one place for each $1..
Which of the following markets is likely to be a monopoly?
Why is the private market for public goods typically characterized by under provision. Under what situations will we expect the private market to overcome this problem?
Give a Share of GDP (percent), such that C=69.9, I=19.0,G=15.3, X-M= -4.5. If consumption in the changed to 43 while government expenditure and net exports remained constant, what would happen to investment as a share of GDP ?
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