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Suppose seven people are trying to decide whether to get a pizza with pepperoni, a pizza with sausage and pepperoni, or a pizza with everything on it. Four people want everything, one wants pepperoni and sausage, and two want pepperoni only. Assume that each person prefers a pizza closer to his or her first choice to a pizza that is unlike the first choice. What is the preference of the median voter? Which pizza will be selected if the majority rules?
Explain how inflation affects consumption in a cash in advance model (with transfers). What causes this to happen and explain how a government collects revenue via seigniorage
There are three primary methods of inducing firms to emit the optimal level of pollution: standards, taxes and transferable permits. Compare and contrast these three techniques: describe each and explain its strengths and weaknesses.
Suppose the market shares of the six largest firms in the industry are 12 percent each. Compute the six-firm concentration ratio and Herfindahl-Hirschman index for this industry.
Our assignment is to write an FOMC statement similiar towhat we believe the real FOMC statement, released by thegovernemnt, will be like. What topics will it cover and what thingswill the government change
question linear programmingcomplete the linear programming matrix at the end of the question with the appropriate
Using a graph, introduce a tax on alcoholic drinks in the market. How does this affect the individual firm, and the rest of the monopoly market? Differentiate between the long and short-run.Show this on a graph and explain
Explain why in a perfectly competitive market the firm is a price taker. Why can't the firm choose the price at which it sells its good and Leskeista produces table lamps in the perfectly competitive table lamp market.
demonstrate graphically the cost of income taxation of 30 to consumers and producers for an income of 27908?how does
amalia alexia and ariane work together in a homework group on a problem set. each group member i 123 can exert effort
a. determine the rule-of-thumb price when the monopolist has a marginal cost of 25 and the price elasticity of demand
Prince Sports wants to exploit a favorable trend-the dramatic growth in tennis participation. For example, a recent study by the Sporting Good Manufacturers Association notes that tennis participation in the U.S. was up 43 percent from 2000 to 200..
Why is elasticity of demand, useful in policy decisions Consider both price elasticity of demand and income elasticity of demand. Using graphs to illustrate your explanations of elasticity of demand, when elasticity changes and when it does not
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