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At the fishing hole, people come from all around to catch fish to sell at the fish market. The total number of fish caught is F=10x-(x^2) where x is the number of fishermen. Suppose it costs each person $20 a day to fish and that fish sell for $10 each at the market. At the social optimum, how much would it hurt all the other fishermen (combined) if one more person started fishing?a) $30 b) $20 c) $10 d) $40
Suppose it costs each person $20 a day to fish and that fish sell for $10 each at the market. At the social optimum, how much would it hurt all the other fishermen (combined) if one more person started fishing?
Calculate the unemployment and labour force participation rates in 2014 and in 2015 and what challenges would face the Greek government if they wanted to undertake fiscal policy to address the problems described in b?
The velocity of M1 money has moved erratically in the past several years because Answer of low and stable rates of inflation of regulatory changes allowing banks to pay interest on checkable deposits interest rates have been stable monetary policy..
Explain why market power leads to a deadweight loss. Is the total deadweight loss from market power for the economy large or small. A student argues, "If a monopolist finds a way of producing a good at lower cost, he will not lower his price. Becau..
Consider a sharecropper whose contract calls for him to receive ¾ of the output produced in the farm on which he works. Suppose that the value of the marginal product of labor on the shared cropped land is given by 80-L. Where L stands for hours o..
Jay's Silk Printing Co. is located in a small university town. The major portion of their business is custom printed sweatshirts for university bookstores. As a sideline, they also retail sweatshirts locally. The local demand for sweatshirts is: Q..
Briefly explain whether you agree with the following statement: "If at the current quantity marginal benefit is greater than marginal cost, there will be a deadweight loss in the market.
Other things being equal, a rise in a country's terms of trade increases its welfare. What would happen if we relax the ceteris paribus assumption, and allow for the law of demand to operate internationally.
Suppose a firm in the short run under perfect competition with P=250, TC=1,000 + 100Q + 2.5Q^2 , and MC=10+5Q-Find out the level of output that the firm needs to produce to maximize profits?
Reference Paul Bohannan's work among the Tiv, and explain the consequences of the appearance of money on Tiv modes and spheres of exchange. Secondly, what critiques have been brought to bear on Bohannan's explanation
Suppose the general public purchase $500 million in government bonds and pay for them by drawing cheques on their chartered bank deposits. 1) Calculate the (target) reserve requirement
Assume that you are an advisor to the United States section of Justice, the agency with responsibilities that include, among others, the power to approve or disapprove proposed business mergers in the U.S.
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