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PSYCHOLOGY/TRAGEDY OF COMMONS What is an example of free rider retaliation as it pertains to tragedy of the commons and exploitation of resources. What is an example of free rider retalliation that would break apart the effectiveness of altruistic punishment in stopping people from being free riders.
Suppose a government wishes to ensure that its citizens can afford adequate housing. Consider three ways of pursuing that goal. one method is pass a law requiring that rents be cut by one-fourth.
Suppose a firm faces the demand curve which gives a constant price elasticity of demand of -2. (recall the Lerner index) 1. If the firm's marginal cost is constant at $2, what is the profic-maximizing price and quantity? 2. If the firm's marginal cos..
Lady Gaga has come to you for advice. She has balances at three department stores as shown in the table below. The monthly interest rates vary between stores as shown. She wishes to pay off all three accounts by the end of three months. She will allo..
Suppose China wishes to peg the Chinese Yuan to the US dollar at $0.20/Yuan. But, because of foreign funds flowing into China, the Yuan appreciates. How can the People’s Bank of China (China’s central bank) maintain the pegged exchange rate? Is the B..
q1. external and internal equilibria are often contradictory goals and the policy-maker is forced to choose between one
As noted in the chapter, separating the production of electricity from its delivery has led to considerable deregulation of producers. (See page 599 in the textbook.) Briefly explain which of these two aspects of the sale of electricity remains susce..
A welfare system in which benefits take the form of cash payments to recipients is preferable to one based on the use of price subsidies on merit goods. Discuss this statement using consumer theory to illustrate your arguments.
An increase in the demand for autoworkers may come about because of all of the following EXCEPT a(n):
Social policies are designed to a. meet individual needs, at the expense of society’s b. meet societal needs, but always at the cost of individual needs c. satisfy public opinion, no matter what d. both meet the needs of the citizenry and support the..
Suppose the demand for steel is P=720-8Qd and the supply of steel is P=360+8Qs. The home country is small in the world steel market and the world price of steel is $400. Find the free trade levels of steel production and consumption as well as steel ..
what is the size of the bank's actual reserves. Required reserves are 10 percent of transactions deposits under the assumptions of the simple multiplier formula, then eventually the money supply will increase by.
q. the tax reform act of 1986 contains a clause appropriating tax dollars for any taxpayer incorporated on september 7
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