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What does it mean for a good to be non-excludable? In theory one may worry that such a problem could completely shut down private markets. How did we deal with that in designing a private environment for the public goods case so that this doesn’t happen? How and why did we use game theory in this design?
Which of the following is true about the opportunity cost of holding money? Economists have found that
What is the profit of each firm in equilibrium (problem 14)? REMEMBER THERE ARE NO COSTS
q1. suppose that the terms of trade of a nation improved from 100 to 110 over a given period of time.a by how much did
Which of the following does not correctly complete the sentence? If the dollar strengthens in international currency markets. Which of the following correctly fills in the blanks? A major economic argument against a large and growing federal debt is:..
Assume a good where its equilibrium price is 40 and its equilibrium quantity is 3.0 units. Compute the supply surplus when price is 60. Take into consideration that the elasticity of supply is 1 and the elasticity of demand (-1)
The market system cannot supply each person with an unlimited amount of resources, so choices must be made. Given the following events, Identify whether this event is a macroeconomic issue or a microeconomic issue and explain why you came to that con..
Suppose the T-account for ABC bank is as follows: assets: reserves($150000), loans(250,000)and deposits $400,000.if the fed requires banks to hold a 10 percent of deposits as reserves explain how much in excess reserves does ABC holds.
1. What's the minimum variance portfolio and what's its variance and covariance with each of the three assets? 2. Redo part a) for arbitrary standard deviations σA , σB , σC
Why are many online service markets likely to be perfectly competitive? Recently, competitors of Plug and Play have been opening their own shared- workspace centers. Does the market for shared workspace likely possess characteristics of a perfectly c..
You are the manager of a firm that receives revenues of $175,000 per year from product X and $50,000 per year from product Y . Both products have similar production costs. The own price elasticity of demand for product X is -1.5, and the cross-price ..
Write a 2-3 page paper addressing the following: 1. Describe the general characteristics of oligopolies. 2. Describe the economic characteristics unique to the airlines.
Explain how convinced are you that the new 30-gallon trash bag is the strongest such bag on the market.
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