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-In terms of standard economic theory, discuss the monopoly and other models that explain the supply of illicit drugs.
-Discuss the different views of price elasticity of demand with regard to addictive consumption.
-Explain why the economics of prohibition depends upon the microeconomic theories of behavior (hint: rational or non-rational behavior).
What are the four reasons or justifications for government intervention in the economy? Describe two in details, providing an example of each.
The loan is amortized over 25 years. How much principal have you paid over the first 6 ?years? How much principal have you paid over the first 6 ?years?
Do you think that all professional sports should share baseball's exemption from antitrust laws or that baseball should lose its exemption?
1. Suppose that a monopolist faces linear demand given by Q(p)=1000-5p
A new computer lets a phlebotomist complete a blood draw in 10 minutes. the supplies for each draw cost $4 and the phlebotomist earns $20 per hour, The phlebotomy lab is designed to accommodate 20,000 draws per year. its rent is $80,000 per year. Wha..
Arthur spends his income on pie and whipped cream. He views pie as a good but is neutral about cream, in that he doesn’t care if he consumes it or not. Sofia, on the other hand, will consume pie only with whipped cream. Using diagrams and appropriate..
Consider a market with an incumbent (I) and a potential entrant (E). The incumbent has innite capacity. Market demand is D(p) = 100 - p. Firms set prices and if the two firms have equal prices then I gets the entire demand. Find the subgame perfect N..
What is the planning process for an audit from the role of an auditor with a brief description of each step and how it would be conducted?
When the production function and the revenue are function the same in a model? (Answer is related to an assumption made about the price of the consumption good)
Describe what kind of monetary and fiscal policy the government should follow from the Keynesian perspective and explain why?
Privatization can be defined as "the process of returning to the private sector property or functions previously owned or performed by government". The basic idea is that there may be some services that the government is providing right now that the ..
Illustrate what happens in the long run when the patent expires also other firms are free to use the technology.
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