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In the area of agricultural chemicals, the Environmental Protection Agency requires detailed labeling on cans of pesticides and herbicides. Generally speaking, the industry not only doesn't oppose these labeling requirements, but even supports government-sponsored education programs on how to use these chemicals. Why?
Economics history question- Answer and explain the following about Karl Marx and Capitalism. What 2 things does Marx identify as the requirements for Capitalism? Explain the origins of each, in turn. Describe the Theory of Surplus Value in detail. Wh..
Explain how income distribution is measured and discuss its effects. How income distribution is measured using a Gini coefficient? Is a less equal distribution of income good or bad for a country’s economic growth?
A game everyone knows is coin flipping. Suppose that Player 1 flips the coin (and is so skilled that he is able to flip it whichever way he wants) and Player 2 calls heads or tails. Does either player have a dominant strategy? If so, which player and..
The purpose of this assessment is to help you analyze the factors that lead to fluctuations in oil prices. Assessment Description: Use a credible source to research oil prices. Based on your research, answer the following questions: Why is the price ..
The government has decided to reduce the pollution also from now on will require a pollution permit for each ton of pollution emitted.
To counterac the recent crisis, the Federal Reserve has increased the monetary base by trillions of dollars. However, the total money supply in the economy has not increased significantly. Explain this paradox using the model of money supply.
Advocates of small government complain that two proposed government programs will steal the market from small businesses: One program will foster a major increase in the government production of bread; the second will increase the government producti..
describe briefly how consumers and incumbent firms are influenced by these externalities.
Your income rises from $1,000 a year to $10,000 and your purchases of beer increase from 10 to 20. Assume a linear relationship between income and quantity demanded. What number below most closely approximates your income elasticity at income equals ..
Donald is a stamp collector. The only things other than stamps that Donald consumes are Harold’s doughnuts. It turns out that Donald’s preferences are quasilinear, represented by the utility function U(d, s) = ln d + s, where d is the number of dough..
Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 45,000 bottles of wine were sold every week at a price of $4 per bottle. After the tax, 39,000 bottles of wine are sold every week; consumers pay $5 per bottle (..
q.suppose the consumption of gold offers people a marginal utility that diminishes as that person consumes more gold.
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