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Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, answer the following questions:
1. What two policies could you use to reduce the total amount of emissions?
2. Why do you think they each would work?
3. What would the benefits of each action be (besides emissions reduction)?
4. What would the costs of each action be?
5. How would you decide what was the best level of emission reduction?
a. If there are no restrictions on pollution, what amount is discharged b. What is the quantity supplied and the quantity demanded if the government restricts the amount of discharge to Q* but gives the permits away
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
Given a perfectly competitive firm in the output market where: P0 = exogenous price, C(Q) = cost function where: C' > 0, C'' > 0. (a) State the firm's profit function in terms of Q. (b) Find the F.O.C. that maximizes profits at Q*. (c) Interpret the..
The Present Worth (PW) of the cost (- Installed cost and operating cost + Salvage value) of Westinghome is most nearly
Select an economy that initially has a labor force of 2000 employees. Of these employees, 1900 are employed and each works forty hours per week. Ten units of output are produced by each hour of labor.
Think IS LM BP model of an open economy with sticky price levels in local currency, perfect asset substitutability, perfect capital mobility and static expectations.
Governor Brown, from the state of Taxafornia, wants to increase sales taxes to bring in badly needed revenue to support state operations. He is looking at taxing various goods and services. Will the state tax revenue be great..
second quarter on strong organization wide sales growth, beating Wall's Street's expectations. What happened to their stock after the announcement.
The Wozniak Corporation, a maker of aircraft engines, determines that in 2008 the demand curve for its product is as follows-What is the price elasticity of demand if price equals $500?
Assume the effect on the marginal expenditure curve and compare the pre- and post-minimum wage equilibria.
Suppose a monopolist with cost function C (Q) = 3Q selling to 2 segments of consumers where Q is total output produced by the monopolist in both markets. If the monopolist can use a single two-part tariff, compute the two part tariff that will maxim..
Two would-be wine makers are contemplating entering the low end wine market in country of Zuba. Two types of wine are being considered by both.
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