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Few states in the U.S. permit citizens to openly carry handguns. People can save themselves in the case of robberies or harm by using these guns. Other states do not allow citizens to carry handguns. Criminals, however, tend to have handguns in all states. Use ECONOMIC ANALYSIS to predict the effects of handgun laws on the behavior of the typical criminal. In particular: (1) Do you think criminals will commit more or fewer robberies in the states with these laws (check on Texas, Nevada, and Georgia to begin with)? (2) How do you think the laws will affect the types of robberies criminals commit? Be sure to explain your "economic reasoning" and find some statistics to back up your findings.
Assume the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units. In this example, the demand for beans is said to be ______
What are some goods and services which produce positive externalities generally produced by the government?
One of the stumbling blocks of Voice over IP has been the implementation of a 911 service. The given story appeared on the newswires on Tuesday:
Ann McCutcheon is hired as a consultant to a firm producing ball bearings. This firm sells in two distinct markets, each of which is completely sealed off from the other. What price should managers charge in each market?
Describe supply and demand as it relates to airport market structure(oligopoly). Describe customers options - given the customers are price sensitive
Discuss how the interplay between economies of density and the properties of hub-and-spoke networks give rise to economies of scope.
Assume that the Keynesian short run aggregate supply curve is applicable to a country's economy. Construct appropriate diagrams to assist in answering the following questions:
Developing a regression model with Sample Regression Model
Use method of Lagrange multipliers to find the cost function c(r,w,y). Find out the average and marginal cost. Find out the interpretation of the Lagrange multiplier in part (a)? What is the importance of term (a+b) being less than, equal to, or grea..
A grocery store notices that the cross-price elasticity between ice cream and chocolate syrup is -.3. The store is advertising a sale with ice cream prices reduced by 20%.
New Light Corporation has just created a solar panel capable of generating 200 percent more electricity than any solar panel currently on the market. As a result, New Light is expected to experience a 15% yearly growth rate for the next 5 years.
Provide the advantage of dynamic pricing over fixed pricing and what are the potential disadvantages of dynamic pricing?
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