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What is an externality? Provide at least three examples. How does one of the examples you provided affect the market outcome? What is the role of government in addressing the implications of an externality you provided as an example? Is it possible that a government's solution to a market failure would worsen the failure? Explain your answer.
1. cinema theater has estimated the following demand functions for its moviesdaytime demand qd 400 - 50 pdnbsp
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 80 - 0.5P, and the marginal cost of production is $100. Decide the optimal number of units to put in a p..
To be meaningful, a price ceiling must be below the market price. Conversely, a meaningful price floor - must be above the market price. What impact will a meaningful price ceiling have on the quantity exchanged
Which economic theory seems more accurate to you? Classical or Keynesian theory? In your explanation, describe the key assumptions of the theory you choose and explain why you think those assumptions are reasonable to make. In your answer, incl..
How is the market price of a good determined? When the market for a product is in equilibrium, how will consumers value an additional unit compared to the opportunity cost of producing that unit? Why is this important?
1. true or false determine if each of the following statements is true or false. explain your reasoning. all credits
The marginal cost of making a wedding cake is $200. In order to maximize profits, Laura should make more than 20 wedding cakes per month. make fewer than 20 wedding cakes per month.
if current output is such that marginal cost exceeds marginal benefit should more or less resources be allocated to
Cammco Industries operates in a large competitive market. While there are some other comapnies in industry due to the high fixed costs of building plants, rival companies are very aggressive in their pricing strategies.
Need both equations and clearly labeled graphs
you are the administrator for a medical practice. assume all of your practices patients are covered by insurance.
An argument can be made that any employee is an agent. In other words, when you hire someone to work for you, that person is either an agent or an independent contractor and that the concept
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