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Three years ago Maricopa County implemented a policy to tackle the problem of particulate matter in the air. The project/policy consisted in paving and compacting some of the roads the dairy industry uses for feeding the cattle and transporting the milk in the West part of Maricopa. At the beginning of the project the abatement level was estimated to be in 10 units (micrograms per cubic meter). After 3 years of project implementation, the abatement levels rose to 20 units. The Maricopa Environmental Service Department estimates that
MSB = 120 – 2.5A
whereas
TSB = 120A – 1.25A².
Find the incremental benefit using either one of the functions (from 10 units to 20 units). Express your results in million dollars.
RAND study found that the income elasticity of demand for dental care is 0.15. Over the last one decade, income of the population has increased by 21%. Therefore, the income effect alone should a)Increase the demand for dental care by about 3% b)Incr..
1. contrast the ideas of nominal gdp also real gdp. explain why there is one more reliable than the other for comparing
Explain game theory and how you can apply the concepts in your life and work now and in the future? How does game theory relate to competitive advantage?
It is expected that the price of a bushel of wheat will increase in one month. This belief will result in
How much must be deposited each month for 9 months at an interest rate of 9.6% per month to allow for a single withdrawal of $54,273.31 at the same time as the last deposit?
What impact will high and variable rates of inflation have on the economy? How will they influence the risk accompanying long-term contracts and related business decisions?
The book defines Web 2.0 as “Internet services that foster collaboration and information sharing which of the following is not considered a characteristic of Web 2.0?
Mike spends all his money on Jelly Beans and Gummy Bears and these two products are perfect substitutes for Mike. A few of Mike’s indifference curves are shown in the figure below. The dark line L is Mike’s budget line at current prices.
Why do prices in monopolistic competitive markets remain above the prices that would exist in perfectly competitive markets even in the long run after entry has eliminated above normal profits?
What are the characteristics of perfect competition? Why do restaurants tend to display characteristics of perfect competition and what are the long-run benefits of running a restaurant, considering its place in the perfect competition?
Below are supply and demand schedules for calzones at a local pizzeria. What is the equilibrium price? At what price is there a shortage of 60 calzones? At what price is there a surplus of 60 calzones? At a price of $13, there is a surplus of how ma..
calculate the breakeven cost of the above air-conditioner with condenser using evaporative cooling if the MARR is 8% p.a.
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