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1. Draw a supply-and-demand diagram to explain the effect of a negative externality that occurs as a result of a firm's production process.
2. The federal government tests the safety of car models and provides the test results free of charge to the public. Do you think this information qualifies as a public good? Why or Why not?
3. Define and give an example of a public good. Can the private market provide this good on its own? Explain.
The Milwaukee Brewers are playing their archrival Chicago Cubs.Bleacher tickets for the game were sold out and many fans would have attend if tickets were availiable.
a. Graphically explain what happens to the reservation wage if someone needs to spend some of their non-labor income on day-care services in order to become employed. b. Graphically explain what happens to the reservation wage if someone experience..
Discuss the factors that affect the price elasticity of demand as they apply tolamb and make a suggestion based on your appraisal as to the likely priceelasticity coefficient.
Why there is so much advertising in monopolistic competition and oligopoly? How does such advertising help consumers and promote efficiency?
Suppose that raw materials (input R) are fixed at 10 units. Determine the number of units of input L that maximizes the total product function.
. Show how the Fed would increase M1 by 1 million dollars by changing the reserve ratio. Show how the Fed would increase M1 by 1 million dollars through open market operation.
While greater access to imports may be beneficial from a microeconomic standpoint (people have greater range of goods to choose from, and available at a lower price) the macroeconomic view of things may be a little different.
What is the average fixed cost of producing 2 units of output based on the following table:
America's Water Meter Industry is dominated through 4-companies: Rockwell, Badger, Neptune and Hersey. Rockwell has 35 percent market share, and the remaining share rest.
If you receive a free ticket to a concert, what, if anything, is your opportunity cost of attending the concert How does your opportunity cost change if miserable weather on the night of the concert requires you to leave much earlier
Explain the monetarist's quantity theory of money including the significance of each component of the exchange equation and the assumptions of the model. If our goal is to focus on growth in the economy, how does this theory affect policy makers
$3500 is deposited every year with 6% interest each year. 38 equal deposits are made. How much money can be withdrawn in 20 equal payments,beginning one year after the last deposit?
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