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ENVIRONMENTAL ECONOMICS OR MICROECONOMICS
1. Describe why alternative efficient allocations may have different total levels, and different distributions, of wealth.
2. Explain how the three assumptions of perfect competition, when satisfied, ensure that all market participants face identical prices. Do these assumptions hold in the real world?
EconS 323 Problem Set 7'4, Questions on Hedonic Wage Theory and Employee Benefits, Risk and earnings, Teacher Quality and Compensating Wage Differentials
You're advising a friend who has a decision to make regarding Social Security. He is about turn 62 years old, and is eligible for early Social Security benefits. His early benefits would amount to $677 each month.
Analyse a range of current economic issues and problems and develop and communicate economic arguments in a variety of forms.
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Using a separate supply and demand diagram for each part, illustrate the effect of value of the yen in terms of dollars of each of the following;
Ongoing United States struggles in Iraq and Afghanistan, political unrest in South America, and civil wars in Africa have driven crude oil values up for the last many years.
Compute the unit price if the ventor sold 200 CDs. Compute the demand curve for CD. Calculate the fixed and variable costs. Calculate the break even quantities (number of CDS).
What is the effect of the United Arab Emirates' increasing sovereign wealth funds on GDP?
Define the barriers to entry into an industry. Describe how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable?
What is the Underground Economy? What effect, if any, does the Underground Economy have on the entire economy? Is it positive, negative, or has no effect?
What is the relationship between productivity and the cost of production, and how does the cost of production vary over the short- and long-run?
Discuss and explain how coaching rather than managing people can enhance a leader's understanding of RQ and therefore provide a better understanding of their followers.
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