Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
An economy is composed of two industries x and y, one labour market L and two consumers A and B. The industry includes a firm whose production function is gy(Ly) = Ly. Industry x includes a firm whose production function is fx(Lx) = (Lx)^1/2 . Consumer A has utility function UA(xA; yA) and B, UB(xB; yB).
The economy is endowed with a quantity L of work. It is assumed that good x is a public good.
(i) Give all the conditions to characterize the effective allocations of this economy.
(ii) Assume that each consumer has half the work allowance L as well half of each company's shares. Also assume that the labour market andthe two industries x and y are competitive. Give all the conditions to characterize a general balance of this economy.
(iii) Discuss the efficiency properties of the general equilibrium of this economy.
(iv) Now suppose that firm x is a monopoly. If the government wanted to intervene to restore efficiency in this economy, explain what should be considered so that an optimal policy can be implemented.
Mikey cuts hair to pay for his tuition for college. Unfortunately, the cost of a haircut in his town hasn't risen in years, and neither has his hourly wage. To make matters worse, the cover charge at his favourite club, Stages
How do local zoning ordinances try to promote land uses that generate external benefits for neighbors Why have authorities found it so difficult to regulate the fishing in the open ocean to allow for a sustainable yield
Suppose only one firm faces the same cost and demand structures. What are the monopoly quantinties Pm Qm PiM.
Using the information above to answer the following questions: Find the set of equations that describe the market (or aggregate) demand for passion fruit in Banania. Find the set of equations that describes the market (or aggregate) supply for passio..
What happens when the government raises taxes and uses revenue to engage in spending? What would be an example of this?
Find an article in the financial press (Wall Street Journal, Fortune, BusinessWeek, etc.) on a proposed change in the federal tax code.
The Junk buyers Company travels from home to home, looking for opportunities to buy items that would otherwise be put out with the garbage.
The following question depicts the market for oranges from Murray valley, which are sold in units of 90 kilogram boxes. The upward sloping (orange) line represent soppy , and the downward slopping(blue) line represent demand
Raising the minimum wage has become a national, state and municipal focus this past year. CH 4 of your text (Demand & Supply Applications) addresses.
Henry, a resident of Nevada, sued Adam, a resident of Utah in the Federal Court in California. He sought $60,000 damages for personal injuries arising from an automobile accident that occurred in Los Angeles, California. Does the Federal Court hav..
Skip's Seal coating Service increased its total monthly revenue from $12,000 to $13,500 when it raised the price of driveway repairs from $600 to $750. The price elasticity of demand for Skip's Seal coating Service is
In each of the following cases, in the short run, determine whether the events cause a shift of a curve or a movement along the curve. Determine which curves is involved and the direction of change.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd