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Consider the various provisions in RCRA that discourage land-based waste disposal. Identify and explain one aspect of the law that is command- and-control in approach and one that is incentive- based.
Suppose that prior to the land restrictions of 1984, the market for land disposal was modeled as follows:D = MPB = 80 - 2L S = MPC = 20 + 2Lwhere L is thousands of tons of landfilled hazard- ous waste, and the dollar values are per ton.
When the 1984 restrictions decreased the supply of land disposal services, assume that the marginal private costs (MPC) of production decreased to MPC' = 32 + 2L.
a. Based on this model, quantify the decrease in land disposal accomplished by the restrictions.
b. Graphically show the qualitative effect on total external costs in the land disposal market.
A competitive refining industry produces one unit of waste for each unit of refined product. The industry disposes of the waste by releasing it into the atmosphere. The inverse demand curve for the refined product (which is also the marginal benef..
Suppose Zia spends her time picking berries and apples. Her production set is described by the equation , where is the number of berries and y the number of apples.
Estimate the total uncertainty in prediction by accounting for both the aleatory and epistemic uncertainties assuming normal probability distributions. Briefly discuss your results.
What is the maximum amount you are willing to pay per year for the franchise?
A monopolist faces a demand curve given by P = 70 - 2Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $6. There are no fixed costs of production.
To what extent do we need to worry about the national debt? In what way or ways is it a burden on society?
Suppose that the marginal product of capital increases for each level of capital, given the labor input level. What is the effect of this capital productivity increase on the aggregate production function?
Explain this tendency of industrial clusters to break up in terms of the theory of external economies.
a. Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, and marginal costs. Total Output Cost TFC TVC AFC AVC ATC MC 0 $20 10 $40 20 $60 30 $90 40 $120
Labor is the only input used by a perfectly competive firm. It hires workers for $50 a day. The firm's production function is shown in the following Table. Each unit output sells for $10. a.) complete the table to show the marginal product oflabor ..
Using a method similar to the consumer price index, compute the percentage change in the overall price level. Use 2009 as the base year, and fix the basket at 1 karaoke machine and 3 CDs.
what is the expected revenue from auctioning the item
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