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1 Why might leaving provision of the arts entirely to the private sector lead to sub optimal resource allocation? Use a diagram to show how provision of a public subsidy to the arts might restore optimal allocation and explain why achieving this aim might be difficult in practice.
2 Should children's playgrounds be provided free of charge?
3 Should opera be subsidized?
Identify an instance where a price control is used in our markets. Why do you think this price control exists? Also discuss the possible negative effects it may have on the market
After Apple introduced its new iPhone, the price of standard cell phones rose. A consumer advocacy group that has long claimed that standard cell phone producers are colluding like a monopolist asserts that this is further evidence
Determine the price, income and cross price elasticity of demand and how would you characterize the demand for haddock?
Under what conditions are cournot and bertrand equilibria the same? You may assume the market demand is p = a - bQ. Consider when firms are identical and different. If not, please explain why.
Use Starbucks as the company, please help identify market structure of the organization. Evaluate the effectiveness of this structure for the company.
Do online research into the U.S. Small Business Administration (SBA) government agency and their three different loan programs that are designed to cover a wide array of businesses and their particular needs.
Assume that a firm uses labor and capital to produce a product. The firm hires labor at a wage rate of $4 per unit and rents capital at $5 per unit. At its current output level, the marginal physical products of labor and capital are 20 and 30 units,..
One of the functions of price is to ration resources and goods and services. What do we mean when we say price serves as a rationing device? Elaborate your response in relation to scarcity and in terms of the demand and supply model
The following table lists the name, gender, and height and reservation wage of 10 persons willing to work as fire fighters in Timber Creek. What is the lowest wage that Timber Creek must pay to hire five fire fighters? You answered the question $380/..
problem 1 the haas corporations executive vice president circulates a memo to the firms top management in which he
Presume that Sooner Airlines, All-Athlete Airways, and Cheapo Express are three airlines competing in a monopolistically competitive market. On a single graph pleases illustrate how Sooner Airlines would reach short-run equilibrium after initially op..
Why do cities exist? Why don't we all just live on large lots of land in Texas/rural Ontario/etc? We could be self-sufficient and avoid all the hassles of city life.
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