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There are enormous amount of studies on the long term effects of unemployment on the economy? What are the consequences of long term unemployment? Should policy makers intervene?
Describe in one short paragraph what the Leontief input-output model in Economics is about. State the meaning of the variables. The solution involves an inverse. State this inverse.
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer's demand for the product
q1. what are the marginal income tax rates and levels paid for different income levels? how much income gets you into
If Anne is planning to invest her loan in an asset which she hopes to turn a profit on, Illustrate what is the minimum rate of return she needs to earn.
A cost-effective policy is always socially efficient. Enforcement costs are critical to the success of environmental program and should be included in the overall social costs of the program when evaluating different policy options
Use your knowledge about price-searching firms and two-part pricing to advise the company below. A company has a bar and is trying to decide on the cover charge (if any) and price for each drink. It has done a modest regression study in which it aske..
There are economies of scale in ranching, especially with regard to fencing land. Suppose that barbed-wire fencing costs $21,000 per mile to set up. Instructions: Enter your answers as whole numbers. Which is more costly—fencing in the four, one-squa..
Boris budgets $40 week for his morning coffee with milk. He likes it only if it is prepared with 3 parts coffee, 2 part milk U= min{3/2M,C}. Coffee costs $2/oz, milk $1/ oz. (For the questions below, show your work briefly) How much coffee and how mu..
In a perfectly competitive market, each firm produces at a quantity where price is set
Consider the market for corn in the United States. Suppose that the mandated percentage of ethanol in gasoline is increased and at the same time a corn blight destroys a significant portion of the corn crop. Using a supply and demand diagram, show wh..
Suppose the tax on liquor is increased so that the tax goes from being a "medium" tax to being a "large" tax. As a result, it is likely that:
Draw a hypothetical demand and supply curve for cyber cafes - coffee houses with computers hooked up to the Internet with access to daily newspapers (among other things) at each table. Show how demand or supply is affected by the following:
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