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1. Why does not a political equilibrium lead to efficiency in the way that equilibrium in private goods markets does?
2. Why is a voter in the "middle of the pack" likely to be satisfied with the outcome of political decisions?
1) We are not looking for a traditional biography of these economists, and we are not concerned about their place of birth, marriage(s), schooling, zodiacal symbols, favorite color or animal, except as that informs their work.
Using Minitab estimate the expected value of its profits and standard deviation of profits and calculate the expected value of returns of stock A & B
The accompanying graph (top of next page) summarizes the demand and costs for a firm that operates in a perfectly competitive market.
Using the equation in (c) show that if the capital/labor ratio K/L is a constant k, the elasticity of output with respect to labor is b + c. (e) Why are relationships expressed like those in (c) important for doing econometrics? (f) Show that the ..
(Aggregate Demand and Supply) Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, neither, or both. Which curve shifts, and in which direction
Almost all of the fossil fuels that we are now currently using were formed during the Carboniferous period. (b) There seems to be a strong correlation between increases in the availability of food energy per person and increases in human populati..
The velocity of M1 money has moved erratically in the past several years because which of low and stable rates of inflation of regulatory changes allowing banks to pay interest on checkable deposits interest rates have been stable monetary policy ..
In our treatment of the Ricardian model We have focused on the case of trade involving only two nations. Assume that there are many nations capable of producing two goods
A monopolist firm faces the following cost curve: C(Q) = 10Q + 300, where Q is the output produced. The demand for its product is given by P = 50 - .
In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroit's city council is considering passing a statute that would give investment tax credits to auto manufacturers. Effecively, this wou..
When the price of a commodity falls by Rs.2 per unit,its quantity demanded increases by 10 units. Its price elasticity of demand is (-)1. Calculate its quantity demanded at the price before change which was Rs.10 per unit. You may change Rupee[In..
Briefly describe the major categories of expected benefits and expected costs from undertaking the project and explain how and where the value of human lives saved or lost might enter this analysis, and explain whether all of these effects are addr..
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