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Match each of the following characteristics or scenarios with either the term negative externality or the term positive externality.
a. Over allocation of resources: (Click to select) Positive externality Negative externality.
b. Tammy installs a very nice front garden, raising the property values of all the other houses on her block: (Click to select) Negative externality Positive externality.
c. Market demand curves are too far to the left (too low): (Click to select) Positive externality Negative externality.
d. Under allocation of resources: (Click to select) Positive externality Negative externality.
e. Water pollution from a factory forces neighbors to buy water purifiers: (Click to select) Negative externality Positive externality.
Discuss the policies that Keynes as well as Hayek supported regarding how federal government ought to manage economy. What are differences between each school of thought.
The Belford family owens a farm near San Angelo, Texas. Three alternatives exist for how to use the farm: a.) Grow cotton. Cotton yield would be 500 pounds per acre. The price of cotton is $0.96 per pound and production expenses are $ 285 per acre.
What are the principal sources of saving? What is investment? What are the two types of economic investment? What is economic investment?
Explain carefully how oligopolies can use product differentiation strategies to increase barriers to entry. Consider both brand name creation and product line proliferation strategies.
Assume you are part of a research team evaluating a proposal to clean up a dangerous squander site.
Suppose that an increase in the price of carrots from $1.30 to $1.80 per pound increases the quantity of carrots the carrot farmers produce from 1.2 million pounds to 1.6 million pounds. Using the midpoint method, what is the approximate value of the..
In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalities to bring about market efficiency? What solutions need to be provided for your xamples?
A production process exhibits economies of scale if:
Find the optimal crude oil allocation for the following example if the profit associated with square foot of fiber is cut to $0.375,
suppose a monopolist can separate its customers into two groups. If the monopolist practices price discrimination, it will charge the lower price to the group with: The XYZ Company is a profit-maximizing firm with a monopoly in the production of UIC ..
Add the missing part (premise or conclusion) to make the following arguments valid. But don’t make them circular; make the conclusion follow from both premises but not just from one premise by itself. Use a Venn diagram. Every citizen with voting pri..
Using the Lagrangean multiplier approach calculate the optimal (i.e., service maximizing) combination of medical and social staff. Determine the optimal amount of service provided by BF.
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