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1) What are the distinguishing characteristics of "public goods?" Give two examples of a public goods. Why are public goods difficult for markets to allocate efficiently?
2) What are the necessary conditions for economic efficiency? In what four situations might a market fail to achieve ideal economic efficiency?
3) What is market failure? If a market failure is present, does this imply that government intervention will lead to a more efficient allocation of resources? Why or why not?
4) "If there are problems with markets, government will generally be able to intervene and correct the situation. Is this statement true? Explain your response.
5) "Because government-operated firms do not have to make a profit, they can usually produce at a lower cost and charge a lower prices than privately owned enterprises." Evaluate this view.
Quantity of pizzas demanded soared following week from 1 pie an hour to 100 pies an hour. What was price elasticity of demand for Domino's pizza.
What can it be sold for now if a buyer's desired return is 4 percent per 6 months?
Employment data at a large company revel that 72% of the workers are married, that 44% are college grads,and half of the college grads are married. Elucidate what is the probability that a randomly chosen worker;
Prepare a flexiable budget performance report, assuimng that the company worked 8,500 direct labor hours during the month.
In 2005, conditions in Iraq led to a sharp drop in consumer confidence and a drop in consumption. Assume that the Fed holds the money supply constant, tell a story and predict the effects on the equilibrium levels of aggregate output (Y) and the inte..
Research where you would find the U.S. international trade policies and their history as they apply to various industries.
Federal Reserve lowers the required reserve ratio from 0.10 to 0.05. How does this affect the simple money multiplier.
What are the advantages and disadvantages to a two-stage approach to negotians? Why do most negotiations for globl environmental regimes end up taking a two-stage approach?
Explain the entities affected by industrial regulation in terms of market structure. Explain why industrial regulation affects those entities you identified.
What is the deadweight loss in both markets if the price of a crate of fresh oranges is raised.
What is the external cost per unit of output?b. What level of output will be produced?c. What level of output should be produced to achieve economic efficiency?
Perform an internet search to find more information. a) Structural-functional analysis: the importance of culture; b) Symbolic-interaction analysis: the personal meaning of race; and, c) Social-conflict analysis: the structure of inequality.
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