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Imagine there are two polluters of a given substance with the following marginal-abatement cost functions MAC1=200-e(1) and MAC2=300-3e(2) where emissions are measured in tons/year and both MAC1 and MAC2 are measure in $/ton.
A: Draw on a graph MAC1. MAC2, and the aggregate marginal-abatement cost function. Put emissions on the horizontal axis and prices on the vertical axis.
B: Which is the total unregulated level of emissions?
C: Suppose the government sets up a program of marketable pollution permits to achieve its emission target of 150 tons/year. How much will each polluter emit under this program?
D: What will be the equilibrium permit price? Illustrate in a graph.
The nearest rival movie theater, the Cedar Bluff Twin, is 35 miles away in Pocatello. Thus QuadPlex Cinema possesses a degree of market power. Despite having market power, QuadPlex Cinema is currently suffering losses.
Calculate a perpetual equivalent annual cost (year 1 through infinity) of $5 million in year 0, $2 million in year 10 and $100,000 in year 11 through infinity. Use an interest rate of 10% per year.
The economy is initially in long-run equilibrium. The AD curve shifts to the right and the price level rises. Assuming that the economy is self-regulating, the SRAS curve will shift to the left and the price level will rise even further.
Estimate your firm's short-run production function. Do the parameter estimates have the appropriate algebraic signs Are they statistically significant at the 5 percent level b. At what point do you estimate marginal product (MP) begins to fall
Elucidate the similarities and differences of the breakup of the AT&T/Bell System antitrust problems.
Lockheed Martin management is considering your proposal to purchase a new water jet machine for cutting 14 gauge aluminum sheets into C-130 fuselage parts. This is a much cleaner method than the current method of using an oxyacetylene cutting torc..
Advanced MUa = z=10-x and MUb = z = 21 - 2y, where z in marginal utility per dollar in the amount spent on product A, and y is the amount spent on product B.
Harold is a no-nonsense boss who believes that the best way for an organization to achieve its goals is for workers to follow their boss's orders. Thus, he tells workers exactly what to do and how to do it. When Harold tells workers exactly.
Assume that an earthquake destroys part of capital stock. Forecast what will happen to total production, the real return to capital, and real wage.
Explain how could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this.
Many people find the current unemployment figures for Australia at 5.5% unbelievable. Why is this? Why might the official statistics be inaccurate
Jason enjoys DVDs and spy novels and spends $60 a month on them. The price of a DVD is $20 and the price of a spy novel is $10. a. What is Jason's real income in terms of spy novel?
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