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Question: 1. Is instituting a $200 fine for anyone caught littering a nudge? Why or why not?
2. Suppose two parents present their 16-year-old with a list of the cars that they will allow him to buy. If the parents decide to add another vehicle to the list, is that affecting the choice architecture for their son? Why or why not?
If a good is non-rival and non-excludable, it will never be produced by the private sector (i.e., public sector intervention is required in order for a non-zero quantity of such a good to be produced). Clearly explain why this answer is false.
What do you mean by ‘Rational ignorance? How rational ignorance impact on economic development of a country? Explain giving examples.
a. Good Ais an inferior good and Goods A and B are substitutes. b. Good Ais an inferior good and Goods A and B are complements. c. Good Ais a normal good and Goods A and B are substitutes. d. Good Ais a normal good and Goods A and B are complements. ..
If there are two types of customer show that the single-crossing condition is satisfied and establish the conditions for a full-information solution.
Make use of the tools you have gained in this course to write an essay that analyzes a piece of your own creative writing. The creative piece should be no longer than 3 pages.
Is there a dominant strategy? What is (are) the Nash equilibrium (equilibria)? Explain. Is there a mixed equilibrium strategy? What behavior would you predict for Delta in a one-play game and why
BAA is a private company that operates some of the largest airports in the United Kingdom, including Heathrow and Gatwick - The additional cost BAA incurs each time one of the 90 different airlines utilizes the runway is £950 provided 70 or fewer ai..
what is the difference between a price ceiling and a price floor? if a price ceiling is set below the market
Next, explain how your proposed steps will affect money supply, interest rates, inflation rate, aggregate demand, and output. Provide support for your response.
A monopsonist buys labor for less than the competi- tive wage. What type of inefficiency will this use of monopsony power cause? How would your answerWhich country has a comparative advantage in the production of each good? Explain.
Assume that income is RM70. What is the price elasticity at P = 8. Also, calculate arc elasticity at the interval between P=7 and P= 8.
Find a 95% con?dence interval for the difference between the population means of the FNE scores for bulimic and normal female students. Interpret the result.
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