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In a brief 250 essay Access the website for the Consumer Product Safety Commission (CPSC) and review the functions and responsibilities of the CPSC. Present a reasoned argument as to whether the public would be better served by a "free market" approach to product safety (for example, consumers refraining from buying products that have resulted in too many injuries or deaths), or whether the public is better-served by the existence of the CPSC.
The charter boat fishing industry has a marginal benefit (demand) for fishing trips out of Irondequoit Bay which can be expressed as a linear function of the price of the trip and the number of trips taken out of the port. This marginal benefit curve..
Describe what happens to investment, private savings, public savings, and national savings. Compare the size of the changes in the latter to the $20billion of extra government savings.
Do you find that in recent years that housing has became more difficult for consumers to achieve?
What amount would these two transactions add to personal consumption expenditures and thus to GDP during the year?
What do you believe makes us human?
Consider a monopolist whose total cost function is TC = 20 + 10Q + 0.3Q2 and whose marginal cost function is MC = 10 + 0.6Q. The demand function for the firms good is P = 160 - 0.5Q. The firm optimizes by producing the level of output that maximizes ..
Suppose that the U.S. government decides to charge cola consumers a tax. Before the tax, 25,000 cases of cola were sold every week at a price of $7 per case. After the tax, 18,000 cases of cola are sold every week; consumers pay $8 per case (includin..
Illustrate what price and quantity will prevail if the monopolist is not regulated. What price-output combination would exist with efficient pricing.
In countries such as Zimbabwe, which had problems with high inflation, the increased use of another country’s currency (such as the U.S. dollar or South African rand) became common. Why do you suppose this occurred?
Quantity, whole revenue and profit when company charges different price in each market and exploits its total profit.
Illustrate what is the basic objective of monetary policy. What are the major strengths of the monetary policy. Why is monetary policy easier to conduct than fiscal policy in a highly divided national political environment.
Conspicuous consumption refers to:
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