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Summer concerts are a pure public good in the town of Bucktown, The marginal social cost of each concert every night is at $500.
1. Explain why it would be inefficient to require each resident of Bucktown to hire their own band at $500 for each concert.
2. Assuming that the marginal benefit of the first concert is $25 for each of the 1000 people of Bucktown, show graphically that it will be more efficient to have more than one concert per summer.
If $7,000 is borrowed and repaid with four quarterly payments of $600 during the first year and four quarterly payments of $1,500 during the second year after receiving the $7,000 loan, what is the effective annual interest rate for the loan?
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In the late 1990s Thailand found that its currency, the Baht was overvalued. That is, its fundamental market value was being pushed below its stated par value. What foreign exchange intervention was required by the Thai monetary authorities to preven..
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