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1) Define the sustainability criterion as used by Tietenberg. What does this criterion say about fairness to future generations? What does this criterion say about efficiency? How can depletable resources be used today and still satisfy the criterion?
2) Is water a renewable or depletable resource? Explain how water is allocated in the western US and how this may result in an inefficient allocation. What better methods of allocation might work toward efficiency?
One of United's biggest customer has placed a very large, heavy order. Its warehouse is in a location served by all transport modes, and the customer has directed United to ship the order by the mode with the lowest transport costs. In this situat..
Explain the following statement: "Changes in disposable income lead to movements along the consumption function while changes in wealth lead to a shift of the consumption function.
A profit-maximizing firm in a perfectly competitive industry should select the output level at which the difference between the market price and marginal cost is greatest.
What will be the equilibrium price? What will be the equilibrium output for the industry? For each firm? What will profit or loss be per unit? Per firm? Will this industry expand or contract in the long run?
Explain what the Durbin-Watson statistic from regression indicates and Plot the residuals against time and comment on whether there is a seasonal pattern.
Determine how a policy will change social welfare, changes in individual utility for high-income individuals are weighted more heavily.
How should the firm allocate production?—How much should Factory #1 produce and how much should factory #2 produce?
let the exchange rate be defined as the number of dollars per japanese yen. assume there is an increase in u.s.
The French government announced plans to convert state-owned power firms EDF and GDF into separate limited companies that operate in geographically distinct markets. BBC News reported that France's CFT union responded by organizing a mass strike
Why is representative money more useful than commodity money. representative money has value because the government says it does or else.
Suppose the government decides to increase taxes by $30 billion in order to increase Social Security benefits by the same amount. How will this combined tax-transfer policy affect aggregate demand at current prices
the receipts and year of release of the five movies with the largest nominal box office revenues along with the cpi
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