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List advantages and disadvantages of rationing by queue, by lottery, and by coupon. If the government permitted a black market to develop, might some of the disadvantages of these systems be reduced?
Be sure to check out the findings of your classmates, and have a conversation about the new things you learned. With everyone investigating different people, you will likely be surprised by the findings.
If John were to lower his price by $1, he would sell more carwashes, and still be able to charge a price above his marginal cost. Explain intuitively why it would not be profit-maximizing to do so. What price should John set for a carwash.
A firm has a production function Q=F (K, L) with constant returns to scale. Input prices are r=$2/ K-unit and w=$1/L-unit. The output expansion path for this production function at these input prices is a straight line through the origin.
in order to ingratiate himself with voters the mayor of gotham city decides to lower the price of taxi rides. assume
During the late 1980' and early 1990's, economic reforms initiated by Soviet President Mikhail Gorbachev began to raise consumer incomes; but the Soviet government continued to impose price ceilings on basic goods like food, clothing and household..
Carbon Tax/Emission Trading scheme - Compare Australia with one of these countries or group of countries like Europe, USA and China/India and discuss the similarities or differences in ETS and its affect on the economy.
Regression analysis was used to estimate the given seasonal forecasting equation, D1 is a variable that is equal to one in 1st quarter and zero otherwise;
Calculate the equilibrium output if he discriminates perfectly.
You just inherited $10,000. while you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you'd like to have $10,000 in the account in 10 years
The Fun-Land Amusement Park is a 40-acre fun park full of rides, shows, and shops. Fun-Land's marketing department segments its customer base into two parts: local patrons and tourists. Fun-Land assumes local patrons are more price sensitive than ..
Consider a firm producing 12,500 units of a good where the price of capital is $5 per unit and the price of labor is $10 per unit. If the firm uses 10,000 units of capital and AVC is $5, what is ATC and how many units of labor does the firm use
There are two workers in the economy, "A" and "B"; "A" can go to school and "B" cannot. Education increases future income according to the following function: I(e)= 50(e)/(1+e) Total cost per year of schooling equals 2, and thus: mc(e)=2.
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