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In discussing the reduction of air pollution in the developing world, Richard Fuller of the Blacksmith Institute, an environmental organization, observed, "It's the 90/10 rule. To do 90 percent of the work only costs 10 percent of the money. It's the last 10 percent of the cleanup that costs 90 percent of the money." Why should it be any more costly to clean up the last 10 percent of polluted air than to clean up the first 90 percent? What trade-offs would be involved in cleaning up the final 10 percent? Source: Tiffany M. Luck, "The World's Dirtiest Cities," Forbes, February 28, 2008.
Suppose we are still analyzing the competitive secondary student ticket market for Badger football tickets. Assume there are 10,000 tickets in all
What happens to the labor demand curve if the level of technology improves? (Hint: What happens to MPL when technology improves?) Explain. How is the real wage af- fected by an increase in the level of technology?
Derive the two firms' best response functions. Verify that if firm A responds to qb by selling on both markets (i.e. qa>0 and qm>0) then marginal revenues are the same on both markets. Explain the intuition.
How many workers should DD employ to maximize profit?
Does it make sense to hold sleep, work, and leisure fixed while changing study? Why or why not? Explain why this model violates the assumption of no perfect collinearity.
for each of the following explain whether it shifts the short-run aggregate supply curve the long-run aggregate supply
Suppose if pollution is bad, why is there any tolerance and programs for pollution rights, tax incentives, and subsidies?
Define the terms listed below. You should write a paragraph explaining each concept as if you were writing for your 15-year-old sibling (or a high school textbook).
An article in the New York Times contained the following statement from the Centers for Disease Control and Prevention: "A 10 percent increase in the price of cigarettes reduces consumption by 3 percent to 5 percent." Given this information, compu..
you are a newspaper publisher. you are in the middle of a one-year rental contract for your factory that requires you
examine main competitive forces in the healthcare delivery system in your state and compare the major factors that
Potato chip industry in Northwest was competitively structured and in long run competitive equilibrium; companies were receiving a normal rate of return and were competing in a monopolistically competitive market structure.
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