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Assume that there are only two goods in the economy: video games and water. The total amount of these goods are given, there is no production. The world is inhabited by two people: Ann and Bob. Assume that Ann and Bob have regular preferences (not necessarily same for Ann and Bob) over video games and water; and that they have some endowments of these two goods. Now well-intentioned politician says that because water is scarce and it is a necessity, both Ann and Bob should get half of the overall water resources (and get to consume their respective endowments of videogames). Is this likely to be an efficient policy? Use the Edge worth-box to justify your answer.
Look at those whose advertising went down by double digits from the prior year. Speculate about what might have caused those advertisers' expenditures to decline.
q1. the taxing agency in your state would like to impose a sales tax in a way that minimizes deadweight loss. to
2 companies are competing for output. The leader firm knows the market demand to be P=1200-Q. The demand for the other company is Q2=400-0.5Q1. Both companies are have marginal cost $200. How much output will the leader company produce?
Contrast two or three key economic factors for this country with the U.S. economy, and comment.
Would you suggest that the Brown Shoe Company cut its costs in order to increase its revenue.
Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency.
As a policy maker wanting to correct effects of gases and particulates emitted by a local power plant what two policies could be used to reduce total amount of emissions.
Increasing returns to scale in production means. The demand curve facing a price-making firm is. In the long run all production inputs are variable. Decreasing returns to scale prevail when output increases by a proportion that is smaller than the pr..
There is currently a surplus of allowances at the price of zero. What must be true of the relative positions of the market demand and supply curves? Explain. If the EPA were to allow firms to use allowances to emit sulfur dioxide as they did in the p..
A manufacturer of an inspecting and profiling web controller has a capital investment of $200000, a fixed cost of $83000 per year and variable costs of $60 per unit produced. If the product is sold at $90 per unit, determine the breakeven quantity pe..
If the price elasticity of a good is less than 0 but greater than -1, the good is considered _____________ and the company should ____________ price to maximize total revenue.
Why profits encourage entry into purely competitive industries and explain how losses encourage exit from purely competitive industries.
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