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There is much discussion in the press about several states moving to legalizing marijuana, either for only medical purposes, or more extremely, for recreational purposes. Looking only at the economic impact (not moral implications) of such changes in the laws, discuss how the existing system of supply and demand for illegal marijuana will be changed with the new legalization. What will happen to existing supply avenues? Will legalization significantly change demand? How? Would one expect prices to change significantly? How? What would be the costs and benefits to governments, both in changes in enforcement requirements and in potential tax revenue?
Use algebra to derive (i.e. show how one equation follows from the other), from national income account identities, the simple classical S=I model, using three assumptions: closed economy, small open economy, and large economy.
Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Draw the AC function on the same graph. What is the firm's long-run supply curve? That is for every price p, how much will the firm produce in the long-run? Which curves are relevant now?
Discuss the effect of an increase in the Government Budget Deficit on the rate of interest & the level of private investment. Identify the crowding out effect in this context.
q.1 dick and jane are living in a two-bedroom unit in an apartment complex that has a swimming pool spa fitness center
Derive the firm's supply curve, expressing quantity as a function of price. Derive the market supply curve if the company is one of 200 competitors. Compute market supply per week at a market price of $25 per rack delivered and serviced.
what are the two main investor preferences and how do they conflict? why does competition force firms to use the least-
exercise 1a long time ago in a galaxy far far away the long run yearly demand and supply of moisture were qd 28 - p5
Calculate the mean and standard deviation of 1-year and 20-year Treasury Constant Maturity Rates data series. Using the graphs and the results
1. will increases in government spending financed by borrowing help promote a strong recovery from a severe recession.
The production function
1. Why is the production of a combination of goods that is located inside the production possibilities curve considered to be inefficient 2. How can there be gains from trade even when total of production goods and service doesn't change 3. Why does..
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