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True/False/Uncertain/ Explain For each of the propositions given, state whether the proposition is true, false, or uncertain, and then support your answer with an explanation. Use 1-3 concise sentences with each one.
a. The first fundamental welfare theorem gives the conditions under which the private market can lead to a particular efficient outcome.
b. A Pareto efficient allocation is one that yields a fair outcome.
c. A social welfare function summarizes society’s preferences over citizens’ utility.
Suppose that the matching function is given by: M = em(Q, A) = eQ^(0.7)A^(0.3) Express pc and pf as functions of e and labor market tightness j. Suppose that z = 1, b = 0.4, e = 0.9 and k = 0.24. Suppose that w = 0.75 Find the unemployment rate in th..
Monopolies can sometimes find themselves in difficult financial situations that lead to losses. Suppose Mr. Burns Power Company has a monopoly for providing electricity in Springfield. What happens to the market when Mr. Burns raises the price he cha..
Suppose that, in a perfectly competitive market at the profit-maximizing quantity, the market price is greater than average total cost. Carefully explain what will happen to the number of firms, the market supply, and the price of the good as we move..
What is your own view on poverty and Do you consider your view to lean towards the liberal or conservative view of poverty?
You are the manager of Copies Are Us. The only other copy store in town, the Carbon Copy, recently got bids on adding a color copier. You must decide whether to obtain a color copier, but you can base decision on what your rival does.
How many popsicles will be sold/supplied each day in the short run if the price rises to $4 each per day
Then click on Reports and then Beige Book to retrieve the summary report for current economic conditions by Federal Reserve District. Select the most current report.
Your grandmother is gifting you $100 a month for four years while you attend college to earn your bachelor's degree. At a 5.5 percent discount rate, what are these payments worth to you on the day you enter college?
Pharmaceutical Benefits Managers or PBM's are intermediaries between upstream drug manufacturers and downstream insurance companies. They design formularies (list of drugs that insurance will cover) and negotiate prices with drug companies.
Which one of the following basic findings about for-profits is not true? Below is the list of the most important risks an investor must evaluate when projecting an HMO’s profitability. Which option does not belong to this list? Agency problems would ..
Explain what does efficiency prevail in the Gilroy labor market. If not, what is the size of the deadweight loss. you must use a diagram and show the appropriate values on it.
If the perfectly competitive market demand for cholesterol-free cookies shifts from QD,93 = 1,150 - 5P to QD,94 = 1,640 - 5P, and the market supply is given by QS = -100 + 2P, then the change in equilibrium price will be?
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