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1. Why do economists say that discrimination is inherently inefficient and therefore will not occur in general?
2. Use the following information to answer these four questions:
a. What are the external costs per unit of output?
b. What level of output will be produced?
c. What level of output should be produced to achieve economic efficiency?
d. What is the value to society of correcting the externality?
What is the Coase Theorem, and when is it likely to be helpful in leading a market with externalities to provide the socially efficient level of output?
Explain in words why U.S. export industries would benefit from a reduction in restrictions on imports to the United States.
What does the conclusion reveal about her legacy to women and to men?
At work one day Erica received 36 packages. Speedy delivered 3 times as many as Express, While Express delivered 4 more than Quick Service. How many packages did each service deliver to Erica?
In a small town it has been discovered that the relationship between the number of radios demanded varies linearly with its price. When the price per radio was $15, 1000 radios were demanded; when the price was $30, 700 radios were demanded.
Which of Porter's five forces has the greatest effect on risk taking to achieve success? Why?
Annual revenue from operations = $290,040 Payments to workers = $160,003 Utilities (electricity, water, disposal) costs = $8,010 Entrepreneur's potential economic profit from the next best entrepreneurial activity = $80,100
A philanthropist working to set up a permanent endowment wants to deposit money each year, starting now and making 10 more (i.e., 11) deposits, so that money will be available for research related to planetary colonization.
You are the manager of a firm that receives revenues of $ 30,000 per year from product X and $ 70,000 per year from product Y. The own price elasticity of demand for product X is -2.5, and the cross- price elasticity of demand between product
Draw a game tree like the one shown in Figure 27.10 on page 588 and predict the outcome of the game. How will the turtle firm respond to the threat of entry? Will the frog firm enter the market? c. How would your response to part (a) change if the..
Assume that the officials in Ecoland have compiled the following information about their economy for last year: The government uses the following equation for the investment function: I = 3,300 - 100r Where r = equal to Ecoland's real interest rate.
Taxicab fares in most cities are regulated. Several years ago taxicab drivers in Boston obtained permission to raise their fares 10 percent, and they anticipated that revenues would increase by about 10 percent as a result.
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