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1. Describe the economic functions (if any) of the privity doctrine in products liability and the fellow servant rule in workplace liability. What was the rationale for their elimination?
2. Discuss the shortcomings of tort liability as the sole means of controlling environmental hazards.
Sketch a figure similar to Fig. 2.6 on p. 40 to show how both the United States and Brazil can gain from specialization and trade.
What should they do instead if they are unwilling to use a parametric test? (Note: The distance was greater with a lower ceiling, which suggests that interpersonal space is not dependent on just horizontal distance.)
If the local government can enforce a rent control law that sets the maximum monthly rent at $1500, will there be a surplus or a shortage, of how many units and how many units will actually be rented each month
Explain how a Federally funded project might be wasteful from a national perspective, yet still be highly beneficial for a specific city or state.
Use the modified benefit-cost ratio method and a MARR of 10% per year to determine which alternative, if any, should be recommended to the city council. Use incremental analysis method with modified B-C ratio based on AW.
Philadelphia, where trash and recycling pick-up are included in property taxes, to a smaller town where my taxes cover recycling but not trash pick-up. The waste management companies where I currently live offer several pricing options for garbage..
Suppose that an initial $20 billion increase in investment spending expands GDP by $20 billion in the first round of the multiplier process. If GDP and consumption both rise by $10billion in the second round of the process, what is the MPC in this..
Consider two possible designs for a product which are sold for $0.70 each. There are only two differences in the production of both designs: operation 1 and operation 2. The first product, A, requires 16 hours of operation 1 and 4.5 hours of opera..
In the absence of participation incentives, will a confused student ask a question when it would be socially efficient to do so?
Kennedy Air Services is now in the final year of a project. The equipment originally cost $24 million, of which 65% has been depreciated. Kennedy can sell the used equipment today for $6 million, and its tax rate is 35%. What is the equipment's af..
Suppose a monopolist faces the following demand curve: P=596-6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. What is the monopolist's profit maximizing level of output What price will the profit maximizin..
Graphically demonstrate the production possibilities frontier for nation of Stromboli, using information given in the following table.
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