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Consider a situation along the line of that in United States v. Carroll Towing Co., the case that led L. Hand to express what is now known as the "Hand Rule." Suppose that the cost of having a "bargee" on the barge during working hours is 15, the cost of accidental harm is 200, the probability of this harm occurring without the bargee present is 0.3 and the probability of this harm occurring with the bargee present is 0.1. Using the "Hand Rule," based on the marginal probability, would the barge owner be considered negligent if the harm occurs and there is no bargee present? Explain.
Analyze the costs and benefits of the three policy proposals (two discussed in podcast, third explained in the text).
Research is key when becoming an effective programmer. Locate a useful resource on the web for programming in Python.
Explain in detail the concept of excess burden (or welfare cost) and explain the factors significant in the calculation of the excess burden. What is the marginal excess burden and why is it important concept for policy evaluation?
Behavioral finance is a brand-new field in analyzing prices in the market. In fact, most of the explanations come from psychological observations of daily lives. Provide a real world example that is not mentioned in class to show that people prefer t..
q1. consider the firm with a single factor of production defined implicitly by the relation z q3 4q where z is the
Consider a market whose supply and demand curves are given by P = 4Q ^S and P = 12 - 2Q^D. Calculate the equilibrium price and quantity (P* and Q*) assuming the market is unregulated. What is the total surplus at the equilibrium? Calculate the price ..
How much will revenue change with changes in both the in-state and out-of-state tuition?
Explain some similarities and differences between the federal court system and state court system?
A patent defense provision of a license is activated in which of the following situations?
How might seemingly legitimate appearance requirements result in illegal discrimination? Explain. What should employers do to reduce the likelihood
You earn $500 a month, currently have $200 in currency, $100 in your checking account, $2,000 in your savings accounts, $3,000 worth of illiquid assets and $1,000 of debt. What is your annual income? How much wealth do you have?
Alfred, Beth, and Charles orally agreed to start ABC Computers (“ABC”), a business to manufacture and sell computers. Alfred contributed $100,000 to ABC, stating to Beth and Charles that he wanted to limit his liability to that amount. ABC opened and..
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