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1.Indicate whether each of the following is a private good, a common resource, a natural monopoly, or a public good (according to the definitions in your textbook),A. A fireworks displayB. A movie viewed at a large theaterC. A video rental2. The consumption of alcohol is often cited as an example of a negative externality. Explain a situation in which alcohol would be considered a negative externality.3. Describe the purpose of antitrust laws. What do they accomplish?
The U.S. is in recession and, at last report, GDP was shrinking at a rate of 1% per year. The unemployment rate is rising and now stands at 7%. In recent months, the rate of inflation has been holding steady and is increasing at an annual rate ..
Say half of the cost of producing wheat is rental cost of land (a fixed cost) and half is cost of labor and machines (a variable cost). If the average total cost of producing wheat is $8 and price of wheat is $6, what would advise the farmer to do..
Briefly summarize your views on whether the total expenditures for health care in the United States are too high. Provide your rationale, including the criteria you are using for your assessment.
Employees at Foxconn factories described in the e-Activity worked more hours than allowed under Chinese labor laws. Yet the violation of these standards is widespread in manufacturing and the demanding treatment of workers is commonly accepted. Co..
Summarize the differences between the four market types. Provide a general explanation of how business may maximize profit within each market type.
If unemployment insurance were so generous that it paid unemployed workers 90% of their regular salary A. the official unemployment rate would probably understate true unemployment. B.
Industry structure is often examine through computing the 4-company Concentration Ratio. Assume you have an industry with 20 firms and the CR is 30 percent.
Suppose that the one-period rate is 4% and that the two-period rate is 6%. What sort of expectation for the one-period rate next period makes this situation an equilibrium?
what advice would you give as the economic analysis team and Your client states that it is worth $4,000 annually to be his own boss and not be a butcher any more. Would that change your advice? How and why?
You're the marketing manager of a firm that produces Titanium and sells this metal to two distinct kinds of customers: aircraft producers and golf club manufacturers.
Where x is measured on the horizontal axis and y is on the vertical axis. How would you figure out what the indifference curve consists of?
If GDP is rising by 3 percent per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2 percent?
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