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Question1. Environmental Protection Agency (EPA) regulations tend to go through many stages of review and approval before they are implemented. Not only do many regulators have to approve a new regulation, but comments and reviews from industry and conservation organizations are typical. Describe these complicated procedures in light of the theories of supply and demand for regulation.
Question2. Corporate responsibility may require changing the mission of the company to a "constrained" wealth maximization. Is it possible for a few firms in the marketplace to shift their objective functions in this way? Why?
Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity,price) points of (50, $10) and (54, $8).
California's newly deregulated power market start operation. The large power utilities in state turned over control of their electric transmission amenities to the new Independent System Operator (ISO) to promise fair access to transmission through a..
Assume there're three firms with the same individual demand function. This function is Q=1,000-40P. Assume each firm had the diffeerent cost function these functions are: Firm 1: 4,000+ 5Q
Determine your optimal pricing strategy if you and your rival believe that the new Jeep is a "special edition" that will be sold only for one year. Would your answer differ if you and your rival were required to resubmit price quotes year after ye..
The Wall Street Journal reported that recent law school graduates were having a very difficult time getting jobs in the legal profession. Many law schools said that ten to 20% of their graduates still had not found jobs.
Assume the ratio of deposits that banks hold in the form of reserves is 7 percent. Assume further that people want to hold 8 percent of their deposits in the form of cash.
Describe why a Keynesian approach to managing the macro economy might be appropriate while, at another point in time, a classical approach might be more likely to produce a superior outcome.
Discuss the difference between a movement along and shift of the demand curve? Demonstrate the impact on the equilibrium price and quantity that results from;
If we believe that the laws of supply and demand always hold, explainc why is it that the 'popular' gifts for the holidays always sell out early?
Comparative statics examine in economics is best illustrated as comparison of equilibrium points before and after changes in market have occurred.
What does the market for sugary sodas look like? Provide a supply-demand graph with realistic prices.
Suppose you are the Chief Economist of Antitrust Division of the Department of Justice. There is a single manufacturer of streaming video services that has a patent on technology so that no one else can give the service.
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