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What are the external effects ( externalities ) and why they can lead to inefficiencies and government intervention in the markets . Why are some government policies to manage external effects effective ( efficient ) while others are inefficient ( inefficient ).
Given the production function Y = A and fixed values for the saving rate and depreciation, if productivity is growing at an average rate of three percent, and the labor input grows at two percent, there is a unique growth rate of capital that is su..
Econ 522 - Economics of Law - Contract Law - Consider a contract to sell an old piece of furniture which looks worthless, but turns out to be a valuable antique. Explain how the principle of "uniting knowledge and control" supports this rule.
Bill sees a classified ad offering a used DVD player for $5. On the opposite page, he sees a big color ad from a national electronics chain offering new DVD players for $50. Bill values a DVD player at $75 as long as it works, regardless of whether i..
Dane decides to give up a job earning $100,000 every year as a corporate lawyer also converts the duplex that he owns into a UFO museum had been renting the duplex for $20,000 a year.
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.
Both theory and experience suggest that (fill in the blank) results in lower and less volatile annual rates of inflation. a. having no central bank b. having a central bank that is not independent c. having a central bank that is highly independent d..
Considering expected return and risk, which projects are good candidates? The firm believes it can earn 5% on a risk-free investment in government securities
Indicate whether the following events would cause an? "increase or a decrease in demand or an? "increase or a decrease in the quantity demanded?" for? cable-based Internet access? service, which is a normal good.
Explain the importance of variation to health-care organizations and answer the following questions. What might be the key processes for health-care organizations? What are the potential common causes of variation that would have an impact on the key..
There are many “in-kind” versus cash payments made by the government to citizens such as food stamps, medical care, and public housing. Use an indifference curve/budget line diagram for “food” and “all other goods” to demonstrate that receiving food ..
Suppose China wishes to peg the Chinese Yuan to the US dollar at $0.20/Yuan. But, because of foreign funds flowing into China, the Yuan appreciates. How can the People’s Bank of China (China’s central bank) maintain the pegged exchange rate? Is the B..
You hire a consultant to estimate the elasticity of demand for widgets, the product that your company produces and sells. When you receive the report it indicates that the elasticity of demand for widgets is -0.6. Briefly explain what that means. Wha..
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