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Our discussion board topic listed three potential solutions to the overuse of common resources: command and control, cultural norms, and creating property rights. Imagine you are a policy maker in California with the ability to design an intervention to overcome the tragedy of the commons that currently exists with respect to agricultural water use. Choose one of these potential solutions and create a plan to solve this crisis. Describe the merits of your intervention and the difficulties it must overcome to be successful. (Response must be 300 words)
You have just been hired as the controller of Land’s End Hotel. The hotel prepares monthly responsibility income statements in which all fixed costs are allocated among the various profit centers in the hotel, based on the relative amounts of revenue..
An outcome that can result from either a price ceiling or a price floor is:
Which among the equation will you choose for a better demand estimation. Illustrate answer in the language of statistics.
Suppose you make 30 annual investments in a fund that pays 4% compounded annually. If your first deposit is $6,000 and each successive deposit is 4% greater than the preceding deposit, how much will be in the fund immediately after the thirtieth depo..
Comparing Investment Criteria Mario Brothers, a sport producer, has a new idea for an exploration sport.
One of the most important debates during the Constitutional Convention in 1787 was about the power and size of government. If the Founding Fathers could view the government of the United States today, which side of that debate would think that they w..
The United States economy is experiencing a moderate economic downturn. The Republican President has addressed the downturn using stereotypical Republican methods. The economy failed to improve significantly, although there WAS some improvement. Duri..
Suppose you are the manager of a California winery. How would you expect the following events to affect the market equilibrium price (up or down) you receive for a bottle of wine? Please state the shift (leftward or rightward) of demand or supply.
During the recession of 2008-2009, and even after the recession ended, we saw the use of many monetary policy tools to stimulate the economy. Please find one article from an established source (newspapers, respected magazines, and so on), documenting..
Terry has a demand function for oysters given by the equation q=.02m-2p, where m is income and p is price. Terry's income is $8,000 and he initially has to pay a price of $40 per oyster. Assume the price of oysters rises to $80. Calculate the substit..
An externality arises when a firm or person engages in an activity that affects the well-being of a third party, yet neither pays nor receives any compensation for that effect. If the impact on the third party is beneficial, it is called a (negative,..
Explain this result in terms of the example in the question above. How might things change if the border were open, with no restrictions on immigration?
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