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MUC = Marginal User cost.
A local landfill currently charges $100 per half ton load of waste to dump. The marginal costs to the landfill of operating the dump are about $60 per half ton load of waste. A nearby incinerator charges $120 per half ton of waste, and it costs about $5 per half ton more to haul it to the incinerator.
a. Assuming the landfill pricing is dynamically efficient, what is the MUC of dumping a half ton load of waste?
b. If the discount rate is 5%, what should be the landfill dumping price next year and the year after that?
c. Assuming all other marginal costs are constant, what will the landfill price of dumping in 10 years?
Which of the following might explain why the government would create a price ceiling for a certain good?
Use the aggregate expenditure model to explain the following statements from the opening news article.
iv. Find the utility maximizing combination of income and leisure. How many hours will this person work? Imagine the wage rate increases to $8 per hour. Will this person work more hours?
Describe what would happen if an outside agency determined the prices eBay could charge.
Maintenance expenses for a bridge on the Ohio River are estimated to be $20,000 per year for the first 8 years, followed by two separate $100,000 expenditures in years 12 and 18. The expected life of the bridge is 30 years. If i = 6% per year, what i..
Suppose E-Mobile purchases every gas company in the world and set their prices. Then it would have a control of the gas market with no other competition. Thus E-Mobile becomes a monopolist in providing gas. The market demand curve faced by E-Mobile i..
Pick a firm in the fashion/retail industry. In your opinion, how does the firm you selected acquire market power? What impact do barriers to entry have on the firm's market power?
Imperfect competition is the norm, so healthcare markets cannot work. Analyze this comment and explain your answer. The existence of market failure does not signal what should be done in response.
Some economists and policymakers argue in favor of replacing the current income tax in the USA with consumption tax. What are your opinions on the issue? How do think such change impacts your income and expenditure pattern?
Wilson is offered a job in Kansas City that pays $50,000 and a job in Dallas that pays $60,000. Which pair of CPIs would ensure that the two salaries have the same purchasing power?
Which type of industries would make the most use of short-range forecasts? Which would make the most use of medium-range forecasts? Which would make the most use of long-range forecasts? Why?
During droughts, cities often impose water use restrictions on consumers. Suppose Rusalka has preferences for Water (W) and other goods (X) given by the utility function: U(W, X) = WX. Suppose the government imposes a quota limiting water use to a ma..
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