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Question: Consider the market for first-aid training classes. Market demand is given by P = 600 - Q. Market supply is given by P = Q. Individuals who have received first-aid training are very helpful in some urgent situations which is captured in a positive spillover, or externality, equal to Q/8. This is thus an external benefit related to the consumption of first-aid training. What is the deadweight loss if the externality is not dealt with?
By specializing in the production of one good, a company is able to benefit from economies of scale which increases its revenue. Which of the following is an attribute of specialization
One difficulty of moving a small business from a traditional retail store to an online store is channel complications. In many cases, everything has to be reconsidered. For example, how will you communicate with your customers? How will they find ..
Why is there a social cost to monopoly power? If the gains to producers from monopoly power could be redistributed to consumers, would the social cost of monopoly power be eliminated? Explain briefly.
Elucidate your reasons as to whether oligopolies are bad for society in part a and how it applies to the beer industry in part b. Submit your analysis in a one to three page paper.
To what extent can the government reduce healthcare costs by attempting to improve inefficient hospitals?
Which of the following are examples of income? Chose all that apply. Which of the following are examples of expenditures? Chose all that apply
1. Do you think, overall, that countries in the world are becoming more democratic, or less democratic, in nature? Why?
Each student will create a detailed, organized, unified technical solution given the scenario described below. The submission will be in a written format, with at least one diagram, and may include additional diagrams, charts or tables. The assign..
For an industry with MAC = 500-2E and MDC = 3E: Calculate the socially efficient tax rate. What is the total compliance cost to the industry if the socially efficient tax is charged? What are the net social benefits of the socially efficient tax?
In the United States, the Federal Reserve frequently engages in buying and selling of the government securities as well as other policies. In recent years, the Fed has reduced the Discount Rate several times. The Fed has also purchased substantial am..
What is the difference between aggregate demand and aggregate expenditure?
(a) What is your monthly payment? (b) If you keep the mortgage until it is paid off in 30 years, what is your effective annual interest rate?
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