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1. A medium-size city has proposed to build a “greenway” along a creek that flows through the center of the city. The city wants to clear a strip about 50 feet wide and construct a paved path for bicycles and foot traffic (walkers and joggers). Proponents claim that it would be a highly desirable recreational facility for the community, while a very vocal and insistent group of opponents claims that it would degrade the environment and open properties along the creek to undesirable users and influences. Identify some specific positive and negative aspects of the proposal.
Would you be in favor of the proposal, if you lived in the city? Would it make a difference if you lived along the creek?
2. The main argument traditionally advanced in favor of zoning is that it protects property values. Do you believe this contention? If so, how does zoning protect property values? If you do not believe the contention, why not?
Suppose that a monopolistically competitive restaurant is currently serving 250 meals per day (the output where MR = MC). At that output level, ATC per meal is $10 and consumers are willing to pay $13 per meal.
The minimum wage is typically set above the market-clearing wage in the market for labor. Using a graph with an upward-sloping supply of labor, a downward-sloping demand for labor, with the quantity of labor measured on the horizontal axis and the wa..
the cost of pollution in billions of dollars originating in the paper industry iscp 2p p2where p is the quantity of
q.mr. h. simpson is an individual who earns 5 per hour working at the springfield nuclear power plant. assuming he
Due to monetary policy and fiscal policy intervention by the Federal Government since the 1950s business cycles
Consider a market where demand is d:p=24-Q and supply is s:p=2+Q. impose a specific tax t= $2 on each unit sold in the above market.
What does mean that in microeconomics?
To maximize profit, should the firm lower its price, increase its price, or leave the price unchanged? How would you change your response if marginal revenue is $1.50? Explain your responses.
Suppose an economy that is initially at full employment faces a substantial fall in exports.
find the new equilibrium GDP when I increases to 350 and all other values remain the same.
Assume which the market for avocados is perfectly competitive. The typical agribusiness firm is earning positive economic profit in the short-run equilibrium.
Participate in a discussion with your classmates regarding how fiscal policies affect our lives. As previously covered in Chapter 13, we learned that the real business cycle results from fluctuations in the pace of growth of labor productivity and po..
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