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For each of the following goods, give your best estimate of its most likely degree of rivalness and (relative) exclusion cost, using the definitions of these variables and the information in the course notes on externalities and public goods. Explain carefully how you get your estimates. Plot the goods in a graph with rivalness on the horizontal axis and (relative) exclusion cost on the vertical axis. ? (1) 1000 pounds of compacted scrap steel; (2) 1/2 ton of compacted scrap steel; (3) a mahogany tree in an inaccessible Central American rain forest; (4) a mahogany tree next to a new highway through a Central American rain forest; (5) service provided by a nearly empty bus on its daily route.
What data the organization needs in order to make good decisions and how the use of macroeconomic indicators enables organizations to improve their forecasts of the key decision-making data.
who operates the industry as a monopoly and seeks to maximize profits from the sale of computers. Elucidate which of the following is a likely consequence of the monopolization of the industry.
q. firms like papa johns pizza hut as well as dominos sell pizza and other products that are differentiated in nature.
a change in populationassume a one-time decrease in population possibly caused by an onset of disease or a sudden
For each of the following events, explain the short run and long effects on output and the price level, assuming polycimakers take no action.
There are two players 1 and 2. re are two cards: "High" and "Low". Player 1 chooses at random one card. Write a strategic form also find optimal strategy of player.
Explain how did the marketer of which product you purchased direct each of those four elements of the marketing mix to influence your purchase?
Why do pork also lamb have comapritively high price elasticities of demand compared with the other foodstuffs in the table.
Why do points on a utility possibility curve represent efficient allocations of resources? Why must the utility possibility curve be downward sloping
A residential rental property is acquired during the first month of the taxable year, at a total cost (including transaction costs) of $1,200,000.
Currently a monopolist's MR = $5 and its MC = $10 and it services 10 consumers. An 11th consumer walks in. Should the company service her?
Draw an Edgeworth box with indifference curves through this endowment. At what combinations of X and Y are both better off (i.e., are Pareto Improving)? At what combinations of X and Y are there no more gains from trade (i.e., are Pareto Efficient)?
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