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1. A reporter contacts you to comment on a report that manufactureres of widgets are colluding. You study the widget market and estimate that the elasticity of demand at the market price is about -0.5. What do you tell the reporter about the collusion?
2. If the demand elasticity for kiwi fruit is -0.2, would kiwi farmers be better off if tropical storms destroyers 1% of each farmers crops? what does that tell you about the farmers incentive to form a cartel? What might stop them?
3. Explain why market power is generally regarded as necessary for price discrimination
What is the marginal cost associated with two units of production and the law of diminishing marginal productivity
Grow Fertilizers Company purchases a gravity settling tank of the $30,000 purchase price. The company finances 30% of the investment with a loan to be repaid with eight equal semiannual payments at an annual interest rate of 12% compounded semian..
Gorton is HIV positive. He is also has severe allergies. The medication he takes to control the debilitating effects of his allergies causes his nasal membranes to dry out, resulting in frequent nosebleeds. Even though his allergy medications cont..
Production is accompanied by significant spillover costs. The government produces valuable goods and services at a low cost. The cost of living is lower in the country than is typical in the world.
write a report based on the podcasts & the news article in the text and a critique as well (do you agree with Mankiw's view that "Consenting adults should be able to make economic trades
I know that according to Max Weber--religion, economics,or culture are intertwined with each other. Can it be said that Protestantism and urbanization in Western Europe are also intertwined with each other?
Effects of wage stickiness and the shape of the aggrate supple curve,effect of expectations on aggragate demand. Phillips Curve, natiral rate of unemployment, expacted inflation , the relationshipe between AS-Ad and the Phillipe Curve.
How many units of phosphorus will these two firms emit if the phosphorus emissions are left unregulated? What is the socially optimal level of phosphorus emissions in the river?
According to the National Bureau of Economic Research, a poor family is the one whose income falls below one-half of the median family income. Using this definition of poverty, answer the following questions. a) How, if at all, would the proportio..
Assume that a very competitive start-up enters the market in direct competition with the oligopoly you described in the e-Activity, initially gaining a 12% market share.
What two policies could you use to reduce the total amount of emissions and why do you think they each would work?
You purchased a new molding machine for $155,000 by trading in a similar machine that had a book value of $18,000. Assuming that the trade in allowance was $20,000 and that $85,000 cash was paid for the new asset, what is the cost basis of the ne..
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