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Class Participation. Consider a course with 40 students, some of whom are confused after the professor explains a concept. The professor doesn t know whether students are confused but will clarify the concept if one student asks a question. A student who asks a question and reveals his or her confusion loses 10 utils. When the professor clarifies the concept in response to a question, each confused student gets a benefit of 2 utils.
a. At what level of confusion (measured by the number of confused students) is a question from a confused student socially efficient?
b. In the absence of participation incentives, will a confused student ask a question when it would be socially efficient to do so?
c. Design an incentive system to generate efficient questioning.
Of the 50 not working, 10 were full-time college students, 18 were retired, 5 were under 16 years of age, 7 had stopped looking for work because they believed there were no jobs for them, and 10 were actively looking for work.
A firm in a purely competitive industry is currently producing 1200 per day at a total cost of $ 600. If the firm produced 1000 units per day, its total cost would be $ 400, and if it produced 700 units per day, its total cost would be $ 375.
question 1 suppose that oil prices rise sharply for years as a result of a war in the middle east. illustrate with a
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A local lending institution advertises the "51-50 Club." A person may borrow $2000 and repay $51 for the next 50 months, beginning 30 days after receiving the money. Compute the nominal annual interest rate for this loan.
Suppose a perfectly competitive firm can produce 20,000 bushels of corn a year at an output at which marginal cost equals marginal revenue. The market price of corn per bushel is $2.00. The firm's total costs per year are $50,000
If you receive a request for proposal (RFP) on a project for four units, what is your break-even price Suppose that if you get the contract, you estimate that you can win another project for two more units. Now what is your break-even price for th..
An undergrad research project examines the effects of urbanization on GDP in the developing world. What is the best way to proceed, what assumption must be made, and what limitations are unavoidable
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tom can produce 40 balls per hour or 4 bats per hour. tessa can produce 80 balls per hour or 4 bats per hour.a.
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