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Restrictions on entry and amount of goods produced in production and retail business are usually objected to by economists. Indeed, such restrictions are considered a major source of divergence between the marginal willingness to pay and the marginal opportunity cost of production. Yet, when it comes to policy prescriptions concerning an open access fishery, economists argue for such restrictions. Solutions to the open access problems in a fishery include: a) tax on catch, b) quota on the type and pounds of fish caught, c) limiting the number of boats, and d) limits on capital (gear restrictions). Provide an explanation indicating why restrictions placed on open access fisheries can increase aggregate wealth. Discuss the efficiency aspects of each of the proposed solutions including a discussion of wealth effects
Bank of Maryland is concerned about the potential for losses as it has been advised that the spot rate in 60 days can vary
Sally has set aside about $7500 for a down payment, and she has budgeted for a monthly payment of $900. She expects that her salary will increase about 5% per year in real terms,but she would like to use that increase for “fun” purposes. Sally is als..
Bubba is a shrimp fisherman who can catch 4,000 pounds of shrimp per year. Bubba is considering hiring his cousin Bobby to work for him. Bobby can catch 3,000 pounds of shrimp per year. If Bubba hires Bobby, what will be the total output of his shrim..
A company has to decide weather to lease or buy a crane for 20 Years, please calculate both seperatly and show which one is the better option
Julia’s grade in her history class depends on a term paper and a final exam. Her grade will be the minimum of the two scores. She has 1,200 minutes to devote to her history class, and she wants to maximize her grade. Putting the final exam score on t..
Illustrate what impact might such a reduction in purchases of U.S. treasury securities have on the cost of short- also long-term financing.
At the same time some internet trades such as grocery home deliveries have continually suffered steep losses regardless of scale.
Where OBPA and SLGA is the opposing team’s on-base and slugging percentage. Assume two very bad teams (OBP = .200 and SLG = .250) are battling for an All-Star free agent, Ken Griffey Jr. If the teams play each other 162 times during the season, how m..
Stone Age Surfboards is a small manufacturer of two types of popular low-tide surfboards, the Gray stone and the Lava models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 8 skilled w..
In your opinion, does gross domestic product per capital or the Genuine Progress Indicator provide a better measure of economic progress? Discuss why, or why not?
In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?
You are the manager of a firm that sells a^"commodity^" in a market that resembles perfect competition, and your cost function is C(Q) = 2Q + 3Q^2. Unfortunately, due to production lags, you must make your output decision prior to knowing for certain..
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