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1. There are 4 ?rms in the industry that have the total costs of eliminating pollution given by 132/4, 132/3, 132/2 and P2 respectively.
(a) Suppose that we want to reduce aggregate pollution in a way that minimizes the overall cost. Derive the marginal cost of doing so as a function of the overall reduction in pollution P*
(b) Suppose we want to reduce the overall pollution by 100 units. How much should each of the ?rms reduce pollution by in order to minimize the overall cost of doing so?
(c) Suppose that we require each firm to reduce pollution by 30 units. Firms are allowed to trade obligations to lower their pollution reduction requirements. What will be the competitive market price of a unit of pollution reduction and how many units will be traded? ((1) Suppose we do not allow ?IIIIS to trade in part (c). What would be the deadweight loss compared to the solution in part (c)
When comparing the negotiating styles and strategies of French versus Spanish negotiators, a number of sharp contrasts are evident.
Estimate each of these alternatives from the perspective of economic efficiency, equity, and the likely long-term impact on the firm.
Consider a perfectly competitive market where each firm faces a market price of P = 16. Each firm's cost function is TC = 50 + 4q + 2q^2.
Elucidate what will be the price of your jersey in Los Angeles and what will be the price in Brooklyn. What will be your total profits.
If the annual real interest rate on the loans is 6%, explain how many car companies will buy a new car assembly machine.
In 2011 the "Occupy movement" spread from New York to a number of cities across North America to protest the uneven income distribution. In Vancouver one of the key issues was the high cost of owning or renting a home (Vancouver has some of the highe..
Discuss the importance of food security in international/foreign economic relations
Suppose that the dollar/yen exchange rate on 1/1/2015 was ¥120/$. One month later, the rate was ¥115/$. If the J-curve theory holds, which of the following situations would occur, all else being equal?
How do you factor the difference of 2 squares? Give an example equation showing each step. Does this make factoring easier or more complicated? Why?
Do you believe unrestricted international trade would lead to global minimum wage and standards regarding labor relations
First, explain why a public good is a market failure, where the market will not provide the efficient amount of the good. Second, explain the difference between a public good, public provision of a good, and public production of a good.
An increase in the rent of two bedroom apartments in Austin is likely to:
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