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The movie The Perfect Storm is set in a situation where a very short fishing season forces the fishers to go to sea despite the dangerous conditions. Explain how a move to ITQs could solve that problem.
A country produces manufactured goods, whose industry is characterized by increasing returns to scale, monopolistic competition, and firms that differentiate their products. Firms are symmetric all firms have identical costs functions and demand f..
Suppose that the current market price of VCRs is $300, that average consumer disposable income is $30,000, and that the price of DVD players (a substitute for VCRs) is $500. Under these conditions annual U.S. demand for VCRs is 5 million per year.
shellys preferences for consumption and leisure can be expressed as uc l c - 200 times l - 80 . this utility function
Assume velocity is constant, real income is constant at Y ¯= 200 and that the demand for real money balances is given by: L(i, Y ) =Y/√i (9) (a) If expected inflation is zero, the nominal interest rateis i = 0.25 and the price level..
Estimated market shares for the cellular phone manufacturing market are given in the table below. If Samsung were to merge with Sanyo, the four-firm concentration ratio would be Firm Market Share Nokia 36% Fujitsu 3% Kyocera 3%
Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase in the number of workers
A chemical company is considering two processes for making cationic polymer. Process A will have a first cost of $100,000 and an annual operating cost of $60,000. Process B will have a first cost of $165,000. If both processes will be adequate for..
consider a representative consumer with preferences over consumption and leisure given by U(C,L)=C^2/3 L^1/3 assume that she has a total of h=18 hours a day which she can use for leisure or trade in the market for a wage rate w.
the following regression model has been proposed to predict sales at a computer store. y = 50 - 3x1 + 20x2 + 10x3 where x1 = competitor's previous day's sales (in $1000s), x2 = population within 1 mile (in 1,000s) x3 1.) if radio advertising was u..
Consider an economy that initially has a labor force of 2000 workers. Of these workers, 1900 are employed and each works 40 hours per week. Ten units of output are produced by each hour of labor.
The forecasting staff for the Prizer Corp has developed a model to predict sales of its air cushioned ride snowmobiles. The model specifies that sales S vary jointly with disposable personal income Y and the population between ages 15 and 40 Z.
The radius of Earth is 6370 km, and its orbital speed about the Sun is 30 km/s. Suppose Earth moves past an observer at this speed. To the observer, by how much does Earth's diameter contract along the direction of motion
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