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Distinguish between private and social costs and use this distinction to explain why the air in cities is so polluted from automobile exhaust fumes. Examine how government can try to correct this externality.
Consider a product with a supply function Q 1 = β 0 + β 1 + u 1, a demand function Q d i =y 0 +u i d . Show that P i and u s d are correlated.
How would you compare this case to the so called "prisoner's dilemma" case and how would you compare this case to the so called "Nash Equilibrium"? Explain the difference between this case and Nash Equilibrium clearly.
The Conference Board publishes an index of Consumer Confidence that is good measure of the non price determinant of demand, customer expectations.
Suppose the U.S government decides that the incomes of dairy farmers should be maintained at a level then how much surplus milk will be produced as a result of this policy.
A summary of the operations of XYZ Corporation for the year ended, Calculate the net income for the year by preparing an income statement.
Illustrate what would you expect to happen to the total expenditures on good X.
Describe three problems of using fiscal policy to achieve a precise level of GDP and why is frictional unemployment inevitable in an economy characterised by imperfect job information and non-zero job-search time?
identify an example illustrating the effect on the demand for hybrid gasoline-electric vehicles such as the Toyota Prius. Then do the same for each of the determinants of supply in Equation. In each instance, would equilibrium market price increas..
Illustrate what does, and what doesn't, the Solow model tell us about the sources of economic growth and the best policies for attaining high per capita incomes.
Explain why do you think 75 percent of the participants voted against the proposal.
Explain who are the winners, who are the loosers, we can better evaluate the net impact, if any, on the overall economy.
Master Card has a series of cute commercials that list a series of accounting items and costs leading to a priceless product. Cell phones are often advertised as being free. In economics, it is said that nothing of value is either free or priceles..
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