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The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Assuming these statements to be correct, What is the most effective way of decreasing the quantity of drugs consumed and decreasing the amount of drug-related crime?
Monopolies are inefficient because A. a monopoly firm must compete, and competition is expensive B. a monopoly firm will always produce where price is equal to average total cost C. inefficiency is a barrier to entry D. a monopoly firm has no ince..
Governments worldwide are turning to "protectionism" to cope with economic problems, imposing tariffs and subsidies on foreign goods and restrictions/incentives on their own firms to keep jobs at home. What are the strategic implications of this t..
name a good or service that you have purchased in recent months from a monopolist. How did the monopoly come to exist Do you think you would have benefitted from increased competition in the market for this good or service
Assignment on Supply, Demand & Taxes, Supply, Demand, and Taxes, The market for tennis shoes exhibits the following supply and demand schedules:
Are there any current subsidy or welfare issues that are being duscussed or addressed in parliament?
Suppose that the economy is initially at equilibrium, in which total planned real expenditures equals real GDP. Which of the following will occur if there is an increase in autonomous investment?
marginal revenue exceeds marginal cost, marginal cost exceeds marginal revenue, total cost exceeds total revenue.
Find the quantity, price and profits in equilibrium. Calculate the consumer surplus. Are consumers better off or worse off in this situation than in (a)?
How would population growth effect the dynamically efficient allocation, given the model in question 2 the second period has a higher demand for the depletable resource. What effect would the addition of population growth have on the efficient all..
1. Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. In a paragraph, what are the efficiency and equity effects of introducing a voucher system likely to differ across these ..
Demonstrate that the expression on the right in fact represents the sum of the series on the left, Draw an appropriate cash flow diagram and indicate the formulas and factors used to evaluate the cash flow diagram
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
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