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Q1. Were past societies in human history more ecological than our society today? What is the most ecological society today? Which societies or cultures do you think will become the most ecological and why?
Q2. Consider a household survey that concludes that poor households spend only 0.6% of a 1% increase in income on food. Can you conclude from this finding that a nutrition-based poverty trap does not exist for these households? Carefully explain.
Q3. Why might price collusion occur in oligopolistic companies? Evaluate the economic desirability of collusive pricing. What are the main obstacles to complicity? Speculate as to why price leadership is legal in the United States (US), while price-fixing is not.
Which among the equation will you choose for a better demand estimation. Illustrate answer in the language of statistics.
Calculate the marginal cost function. What is Chill man's profit-maximizing cost as well as output combination.
Calculate gross national product and net national product
Assume in this market all apartments are identical, so there is only one equilibrium rent. Show the rent as $800 per month.
Explain why sharp decline in oil prices might not necessarily have positive or negative impact.
Make sure that you consider two cases. In the first case, the consumer does not pay any tax before x is reduced, and in the second case, the consumer pays a positive tax before x is reduced.
Perform a statistical analysis of its short-run production costs to estimate its total variable cost function.
In country B the opportunity cost of 100 gallons of beer is 0.95 tons of cereal. Both countries can experience gains from trade if the exchange rate for a ton of cereal is 96 gallons of beer
Calculate the new cost earned by sellers, the cost paid by clients, as well as the equilibrium quantity sold in the market.
Results of drilling are 15 dry holes, 12 gas producers, 18 oil wells, and 20 wells producing both oil and gas.
Statistical analysis indicates that a=0.8 and b=0.3. The firm's owner claims the plant has increasing returns to scale.
The setup cost is $100 per order up to 99. For orders of less than a pallet, the setup cost is $200. The setup cost for pallet loads is $1000. The holding cost is 1% of the purchasing cost per item per week.
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