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An inexperienced researcher wants to examine the average standard of living in two countries. In order to do so he compares the GDP's in those two countries. What are two reasons this comparison does not lead to an accurate measurement of the countries average standard of living?
(Cournot's duopoly game with linear inverse demand and a quadratic cost function) Find the Nash equilibrium of Cournot's game when there are two firms, the inverse demand function is given by P(Q) = a - 2* Q and the cost function of each firm is
P1=150-10q1 and P2=250-10q2. Marginal cost is constant at 10. If a monopolist can price discriminate what is the profit maximizing price for the combined markets?
Discuss how the two alternatives listed differ on the public-private continuum. Also describe how appropriate public policy might differ as the industry moves.
Sketch a diagram that illustrates what happened to the Bridgewaters' budget constraint. Could they have been made worse off by the change.
The city government is losing millions of dollars on the system of mass transit (buses and subways). The government proposes to increase the fare of a ticket by 20% and they have asked your advice. You know that the price elasticity of demand for mas..
When workers already have a large quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity only slightly.
Explain following statement using supply-and-demand diagrams: “When weather turns warm in New England every summer, the price of hotel rooms in the Caribbean resorts plummets.” As part of your explanation, illustrate the approximate supply-demand shi..
Discuss the possible impact of labour unions on the natural rate of unemployment. Explain why a university degree can be treated as a form of capital.
Discuss the benefits for Bolivia of forming a strategic alliance with a private company to extract lithium. What are the drawbacks of this strategy? What should Bolivia look for in a partner?
A group of attorneys, judges and law professionals have collaborated to write a uniform criminal code. The code would create uniformity in criminal law across the United States, defining what constitutes a misdemeanor, what constitutes a felony, how ..
q.1. real wages and productivity-are workers paychecks keeping up? over the long run traditionally real wages grow at
q.assume a country the total holdings of banks were as followsrequired reserves 45 millionexcess reserves 15
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