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Wireless high speed internet is provided for free in the airport of the city of communityville a)At first, only a few people use the service. What type a good is this and why? b) Eventually, as more find out about the service and start using it, the spend of a connection begins to fall. Now what type of a good is the wireless Internet service? c) What problem might result and why? What is one possible way to correct this problem?
In order to expel a foreign diplomat, that individual must be declared____.Internationally, what is the name of the commercial code that governs many international commercial transactions concerning the purchase or sale of goods?
Give a definition of Pareto Optimal Allocation in this economy. Find out all Pareto optimal allocations and graph them in the Edge worth Box and also describe what is the theory of Second Best? Prove the theorem by using a diagram.
Suppose that a 20 percent increase in the price of normal good Y causes a 10 percent decline in the quantity demanded of normal good X. The coefficient of cross elasticity of demand is:a.negative and therefore these goods are substitutes
In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroit's city council is considering passing a statute that would give investment tax credits to auto manufacturers. Effecively, this wou..
What forecast would you make for the merged firms' profits and what explanation might there be for such a strategy? After the merger, what prediction would you make about advertising rates?
Distinguish between explicit and implicit costs, giving examples of each. What are some explicit and implicit costs of attending college 2. Distinguish between accounting profit, economic profit, and normal profit. Does accounting profit or econom..
Recently, the Fed is paying banks interests for their required reserves and excess reserves. This is now the fourth policy tool for the Fed to control money supply (in addition to the three policy tools summarized on p. 423.). what if the Fed want..
What are some the kinds of incentives for providers for efficiency in delivery of healthcare services. Describe who bears the financial risk, the provider, the patient, or the managed care organization?
Is Publix the monopolistic competition, oligopoly, monopoly, or perfect competition? Justify your classification of firm and employ the characteristics and features of the different market structure to determine which market structure to classify ..
Suppose that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.
According to the articles, why did prices rise sharply over the past 5 years? Answer in terms of a supply-demand analysis, saying what specifically has happened to supply and demand and how this has increased prices.
Name at least 10 goods and services for which the demand would be elastic or inelastic. What determines the price elasticity or inelasticity of demand of a good or a service Explain by referring to the list you have compiled. Submit your work in t..
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