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Question: Write a short essay of about 750 words each on the following topics:
1. What are the common defenses of protectionism? Evaluate them.
2. Explain Coase Theorem and show how it works with examples.
3. How does Mancur Olson explain differences in economic performance of nations by the concept of public goods?
Joe, who has no skills, no job experience, and no alternative employment, runs a shoeshine stand. Other operators of shoeshine stands earn $10,000 a year.
Ronald Coase points out that a market failure does not arise simply because people ignore the external cost of their action. What other condition is necessary What did Coase consider to be the efficient solution to a negative externality
you just won the irish lottery you bought a ticket while you were on vacation in ireland and you just won a 1 million
Dakota Publishers prints coffee table photo books of the mountain states and Great Plains. The marketing manager normally prices books at $35 each, and sales an average of 4,000 per month. Last month, she had a sale and priced volumes at $22.50 eac..
Find the quantity at which diminishing marginal returns set in and if the monopolist's goal is to maximize profits, and the monopolist charges all customers the same price, determine the optimal level of output.
The federal government recently decided to raise the excise tax on hard liquor. How would the excise tax on hard liquor affect a beer distributor
Immediately after the second payment, the terms of the agreement are changed to allow the balance due to be paid off in a single payment the next year. What is the final single payment? (final answer should be $7778).
If the cost per beer is 5 and Joy's behaves as a monopolist, how many beers will be sold and at what price? Q J = the number of beers served per week.
Explain with the use of a graph why the shape of the money demand curve makes a difference in terms of the effectiveness of monetary policy.
What would happen to your demand for leisure? What does this imply about the response of the consumer's labor supply to changes in wage rate?
by defining a products market we will be able to know who are the competitors in this market what products they offer
According to many sources, such as the U.S. Census Bureau, Global Issues, and the Joint Center for Poverty Research, the United States has a widening gap.
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