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In each of the following cases, explain whether you think the situation is efficient or not. If it is not efficient, why not? What actions would make the situation efficient?
a. Electricity is included in the rent at your dorm. Some residents in your dorm leave lights, computers, and appliances on when they are not in their rooms.
b. Although they cost the same amount to prepare, the cafeteria in your dorm consistently provides too many dishes that diners don't like, such as tofu casserole, and too few dishes that diners do like, such as roast turkey with dressing.
c. The enrollment for a particular course exceeds the spaces available. Some students who need to take this course to complete their major are unable to get a space even though others who are taking it as an elective do get a space.
oligopoly monopolistic competitionand the factors of production1.a monopolistically competitive firm chooses thea.
What is the nominal exchange rate in 2013? What is the expected nominal exchange rate for next year? Which currency will appreciate? What is the real exchange rate in 2013? What is the economic meaning of the real exchange rate?
What do economists mean when they refer to "economies of scale" Why do economies of scale exist in the context of hospital services Does this mean a hospital market comprised of a few large hospitals is preferable to a hospital market comprised of..
What is the present value of a continuous revenue flow lasting for 6 years at the constant rate of $2,000 per year and discounted at a discount rate of 6%?
Why was/were the firms investigated for antitrust behavior - Identify some of the costs (pecuniary and nonpecuniary) associated with the antitrust behavior
Which market has greater deadweight loss? How do you know? How does the price elasticity of demand affect the deadweight loss?
there are a number of economic and non-economic factors that affect long-run economic growth of countries. among these
Apply demand and supply analysis to events that you experience or read about in your life. Find an article from a newspaper or periodical that illustrates a market.
Compare across individuals at difierent points in time. Include the data for GDP - Compare thc results collected about your parent to the onc about yourself by constructing three graphs using Excel
As amount of 50,000 was deposited in a bank in January 1st, 2012, calculate the loan when it January 1st, 2016 assuming that interest rate of 10%, yearly, monthly, every 3 months abed every days
This year a nation’s long run equilibrium real gdp and price level both increased. Which of the following combinations of factors might simultaneously account for both occurrences?
Identify the four major tools of monetary policy. b) Describe how changes in the Fed’s major policy tools lead to [1] expansionary and [2] restrictive or contraction monetary policies. Define the four basic types of trade barriers. b) Who gains and w..
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