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Supply and Demand anti-terrorism regulation Edition
a) Suppose that the US Department of Homeland security is concerned about the prevalence of airborne biological weapons in large sporting events in the US. Begin by assuming that there is no government policy yet. Consider the market for a system called Early Warning and Response (eWAR) which detects and eliminates pathogens from heating, ventilation and air conditioning. (HVAC) systems in large buildings. These systems are produced by manufacturing companies and purchased by large building owners. Draw a supply and demand diagram (no need for numbers) that reflects the equilibrium number of eWAR systems produced in the absence of government regulation. Suppose the eWARs are extremely expensive. In one or two sentences, explain your rationale for drawing the graph the way you have.
b) Suppose the government mandated that eWAR be installed in all large buildings holding over 10,000 people. Indicate on the graph what this policy means in terms of the quantity of eWAR installed, the price of eWARs, consumer and producer surplus as well as deadweight loss.
c) Suppose that there is a large benefit to society of installing eWAR that perhaps building owners are not incorporating in to their demand for them. What would the value of this “external” or spillover benefit have to be larger than to make the government program pass a cost benefit criterion?
What is the 99% confidence interval for the difference between the two school's scores. (For consistency, let the difference d=A-B.) b. Suppose we want to perform a two-tailed test where H0 is that ?d=0. What is (approximately) the p-value of the ..
Alternative Uno has a first cost of $10,000 and annual expenses of $3,000, whereas Alternative Dos has a first cost of $35,000, annual expenses of $2,000, and a recurring cost of $5,000 every 10 years. If both alternatives have an infinite life, whic..
Sam has preferences for consumption goods (C) and time spent on leisure (L). The utility function is u(C,L) = CL. The household also has a home production technology summarized by a production function. How much time will Sam spend in leisure? How ma..
During recession years,
Illustrate what do laws of supply and demand predict would be result of an immediate removal of minimum wage in terms of price of labour and quantity available.
Two restaurants are on the same block. One has been opened for 10 years and its a thriving business. The other one has been open for only a year. They both want to expand. When the two owners told the local bank looking for a loan, which one is likel..
Suppose that market demand for answering machines is given by the expression QD = 1,000 – 150P+ 25I. Assume that per capita disposable income I = $200 and the price of answering machines is P = $10. Calculate the price elasticity of demand for answer..
Monetary Policy - Discuss Australia's Monetary policy during last 3 to 5 years. What are its affects and its problems on Australian Economy
To determine which of the output levels represents a macroeconomic equilibrium.
find a transformation of the data to be able to use the same data to estimate a model that satisfies the Gauss-Markov assumptions. be clear and explicit about the process. clearly explain why the transformed model meets the Gauss-markov assumptio..
The average starting salary for engineers for 2002 was $47,000. The average in 2015 was 65,000. If we assume salaries are tied to inflation, what has been the average yearly inflation rate for this period? And, what should we anticipate the salary wi..
Now using the information on input prices also MR, Illustrate what is the optimal input combination.
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