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Famines are acts of God resulting from bad weather or other natural disasters. There is nothing we can do about them except to send food relief after they occur. Explain why that position is inaccurate. Concentrate on agricultural pricing policies and distributional issues.
A company has fixed costs of $ 28000 and variable costs of 0.4x +222 dollars per unit, where x is the total number of units produced. Also, the selling price of its product is 1250-0.6x dollars per unit.
Will more people be able to attend the games? Explain your answer. Will certain teams and events be affected more than others? Provide examples.
Suppose that individual demand for a product is given by QD = 8000 - 10P. Marginal revenue is MR = 800 - 0.2Q, and marginal cost is constant at $20. There are no fixed costs. The firm is considering a quantity discount. The first 300 units can be ..
6.Yo would like to estimate the effect of police size on city-level crime on a cross-section of cities. A regression of crime rate on police size (per population) gives an estimate of 0. Suppose that people make their city increase police size if cri..
Suppose the government imposes an excise tax on tractor trailers. The black line on the following graph shows the tax wedge created by a tax of $80,000 per trailer.
different types of consumers value your two products differently, but you are unable to identify these consumers individually at the time of the sale. In particular, you know there are three types of consumers (1,000 of each type).
The government has announced that it intends to cut national taxes and boost spending on the national education system to reduce unemployment in the north-west. Comment on the efficiency of this policy initiative.
Calculate the ex-ante and ex-post real rate of interest between June 2008 and June 2009 (note that June 2009 is the last month of the Great recession - the official recovery, began in July of 2009).
Which five countries have the greatest percentage of foreign-born residents? Why do the two lists differ so substantially?
Do you think this plan will work to raise the response rate on teaching evaluations? What would traditional economic theory predict? What would behavioral economics predict?
Explain how the nominal dollar/euro exchange rate would be affected (all else equal) by permanent changes in the expected rate of real depreciation of the dollar against the euro.
data for the market for graham crackers is shown below. calculate the elasticity of demand between the following
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