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Darwin gets plenty of sunshine throughout the year yet the power bills remain high in the Territory.
Question (a) Describe the costs and benefits of intalling solar panels in Darwin. Describe the externality that arises from the use of solar panels in Darwin. What is the best way to avoid or regulate externalities? Discuss.
Question (b) Draw a graph to illustrate how solar panels have an impact on social welfare. Use the concepts of allocative and social efficiency
If the banks' desired reserve ratio (rr) is 2.5% and the public's currency ratio (cr) is 7.5%, an increase in monetary base (MB) of $1,000 will result in?
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development? What kinds of costs are involved in making a decision to shut down?
Now consider the market for Harry Potter books in Privet Drive where there are two types of consumers. The first type love Harry Potter books and have an inverse demand curve of P = 10 - 0.5Q. The second type are fanatics and have an inverse deman..
Suppose you own a printing/graphics business that provides professional printing and marketing services and web design to your customers.
If the price of steak is $10 and the price of potatoes is $1 then how many units of steak and how many units of potatoes in the CPI market basket are there?
During world war 2, both Germany and England had plans for paper weapon:they each printed each other's currency, with the intention of dropping large quantities by airplane. Why might this have been an effective weapon ?
Product characteristics - short run P&Q determinations and the resulting 3 possibilities for excess profit
What is the measurement of current level of prices relative to the level of prices in the base year?
Why does a reduction in the price of a good increase consumer surplus? Discuss
1. Define the family as a social institution 2. Identify and discuss the basic concepts surrounding family
What steps can you take to reduce your ecological footprint? Name at least two. What is your responsibility as a global citizen to protect the earth's resources?
Could the monetarists have ended the Great Depression and brought the economy back to full employment?
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