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Why is the private market for public goods typically characterized by under provision. Under what situations will we expect the private market to overcome this problem?
According to an early study conducted by the U.S. Department of Agriculture, 8,500 pounds of milk can be produced during a specified time period by a cow fed the following combinations of hay and grain:
What short-cut can you take when calculating the AE for a cash flow that has repeating cash flow cycles?
Recently, the House of Representatives passed legislation to increase the minimum wage in the nation from $5.15 to $7.50. What are the pros and cons of this proposal? Provide an analysis based on the demand and supply of labor.
An increase in nominal GDP accompanied by a decrease in real GDP: A. is impossible. B. implies that the price level in the economy fell. C. implies that the price level in the economy rose. D. implies that the price level in the economy remained the ..
The CEO of AT&T is tired of competing with Verizon and Sprint in the wireless service industry, so he is thinking of doing these two things: (1) Having AT&T buy Sprint; (2) Calling the Verizon CEO and forging an agreement with him to increase consume..
Compare the costs and benefits of regulation. In your opinion, do the benefits outweigh the cost or do the costs outweigh the benefits? What are the advantages and disadvantages of deregulation?
It is believed that education provides a positive externality (i.e. an external benefit) to society that would not be exhibited in a free market for education.
A firm has $2,100,000 in sales, a Lerner index of 0.6, and a marginal cost of $45, and competes against 800 other firms in its relevant market. What price does this firm charge its customers? what factor does this firm mark up its price over marginal..
If you receive a request for proposal (RFP) on a project for four units, illustrate what is your break-even price.
Mining is proposed for a wilderness area that provides two benefits: recreation (due to backpacking opportunities) and biodiversity (there are endangered wildlife and plants). Which discount rate makes the best case for mining? What is the present va..
What do economists mean when they say that "price floors and ceilings stifle the rationing function of prices and distort resource allocation" Use the ideas of consumer surplus and producer surplus
"The problem with our democratic institutions is that they dont correctly reflect the will of the people! If the people rather than self-interested politicians or lobbyists- had control, we wouldnt have to worry about government taking actions that d..
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