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Appalachian Coal Mining believes that it can increase labor productivity and, therefore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing pollution by installing additional capital equipment is
MC= 70P,
where P represents a reduction of one unit of pollution in the mines. It also feels that for every unit of pollution reduction the marginal increase in revenue (MR) is
MR= 1,200 −10P.
How much pollution reduction should Appalachian Coal Mining undertake?
Assume that Jamaicans' taxes, imports, and saving behavior means that two-thirds of any change in income will survive leakages of tax, import spending, and saving. With this information you can calculate the multiplier at work in the Jamaican economy..
Increasing returns and imperfect competition: Suppose a new piece of computer software — say a word processor with perfect speech recognition — can be created for a onetime cost of $100 million. Suppose that once it’s created, copies of the software ..
Identify the following interest rate statements as either nominal or effective: (a) 1% per month compounded weekly; (b) 0.5% per week compounded weekly; (c) effective 15% per year com- pounded monthly;
An auto-part manufacturer is considering establishing an engineering computing center. This center will be equipped with three engineering workstations that each would cost 25,000 and have a service life of five years.
Why are many online service markets likely to be perfectly competitive? Recently, competitors of Plug and Play have been opening their own shared- workspace centers. Does the market for shared workspace likely possess characteristics of a perfectly c..
While many domestic institutions play an important role in the globalization process, describe three fundamental policy measures that those countries need to promote in order to benefit from globalization. How would these policies be implemented? How..
There are economies of scale in ranching, especially with regard to fencing land. Suppose that barbed-wire fencing costs $14,000 per mile to set up. How much would it cost to fence a single property whose area is one square mile if that property also..
Polan's book Affluenza, shows us just how to grow, process, and distribute food sustainably, yet if we are going to avoid eventual collapse as a society, we'll need to figure it out. Build a picture or the various issues that need to be addressed in ..
A manufacturing company wants to decrease its labor costs by substituting skilled welders with robot welding machines. If the company marginal tax rate is 36% is the investment a good idea?
Price discrimination that can be sustained occurs when. Without insurance price of the drug is $500. Quantity demanded was 1,000. With insurance (Coinsurance rate is 10%) demand increases to 1,400. What is the social loss due to insurance?
Monopolistically competitive firms short run profits must necessarily be zero. Monopolistically competitive firms short run profits can be positive. Monopolistically competitive firms long run profits are always be zero. Monopolistically competitive ..
For each of the following events, describe the effects on the Canadian economy assuming that it is originally in long run equilibrium. For each, explain the short and long run effects in the context of an aggregate supply and aggregate demand diagram..
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