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Using the alternative fuels initiative (ethanol) as an example, explain the cost/benefit approach that a typical economist might take to analyze proposed policy changes?
Suppose that you save all of your money to spend next year. Explain how much will you be able to spend next year. How much will you be able to spend this year.
describe how each of the 4 factors contributed to the elasticity of the good. Is the product considered elastic, inelastic, or unitary elastic.
what would the benefits of each action be (besides emissions reduction)? what would the costs of each action be? How would you decide what was the best level of emission reduction?
Assume which one company acquires all the suppliers in the industry and thereby creates a monopoly.
Illustrate which combination of fiscal policy actions would be most contractionary for an economy experiencing severe demand-pull inflation.
Illustrate what is the cost of producing 10 units in the short run? First conclude how much labor is needed.
Under oligopoly if one firm in an industry significantly increases advertising expenditures in order to capture a greater market share, it is most likely that other firms in that industry.
How does the government decide on the amount of pollution to allow? What are the potential costs and benefits associated with the regulation of pollution? What are the potential problems associated with employing outright regulation to deal with poll..
Using the concept of price elasticity explain why the price of basic commodities has to be regulated in price rise.
Elucidate the consumers opportunity set in a diagram. Explain how does this change alter the market rate of substitution between goods x and y.
The amount of money generated in a week can be viewed as a random variable with a mean of $700 and a standard deviation of $130. Find mean and standard deviation of an employee's total pay in a week.
The yearly demand for coffee by U.S. consumers is given by the demand curve QD=250-10P, where Q is quantity.
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