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Q. Bob as well as Nancy live in a new housing development as well as they would like to have fire hydrants installed to assist the fire department in case of a fire. The table shows Bob's as well as Nancy's individual marginal benefits of different quantities of fire hydrants that could be installed in the neighborhood. Assume that the marginal cost of installing a hydrant is $10.
The total value added in the production of a final good a. exceeds the price of the final good b. equals the price of the final good c. exceeds the total payments made to owners of productive resources used in the production
If you drive 20,000 miles per year and the price of gasoline for this analysis is assumed to be $4.00 per gallon, which model should you purchase?
Demand in a perfectly competitive market is Q = 100 - P . Supply in that market is Q = P - 10.
What are the advantages and disadvantages of using the Gross Domestic Product (GDP) as a measure of productivity and economic health? Explain your answers
As a policy maker wanting to correct effects of gases and particulates emitted by a local power plant what two policies could be used to reduce total amount of emissions.
Explain the concept behind the governments TARP program and the ensuing stimulus packages that were implemented.
Evaluate why only the convexity of preference relation cannot guarantee that the indifference curve is strictly convex to the origin.
Describe how a developing/emerging economy can benefit from trade with a wealthy country even if it has no absolute advantages. How can they benefit from trade with a poor country?
Describe the differences between the substitution effect of a wage increase and the income effect of a wage increase
Assume that neither country experiences population growth nor technological progress as well as that 5 percent of capital depreciates each year
where P represents price and A is the number of weekly advertisements. Presently the theater advertises 125 times per week. Assuming this is the only theater in town, and its marginal cost, MC, is equal to zero,
U.S. exports and imports each affect domestic production because: A. imports are added to U.S. GDP and exports are subtracted B. exports and imports and added to U.S. GDP C. imports are substracted from U.S. GDP and exports are added. D. exports ..
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