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Question: For each of the following situations, is the Coase Theorem applicable? Why or why not?
a. A farmer who grows organic corn is at risk of having his crop contaminated by genetically modified corn grown by his neighbors.
b. In Brazil it is illegal to catch and sell certain tropical fisb. Nevertheless, in sonic remote parts of the Amazon River, hundreds of divers come to capture exotic fish for sale on the international black market. The presence of so many divers is depleting the stock of exotic fish.
c. In the state of Washington, many farmers burn their fields to clear the wheat stubble and prepare for the next planting season. Nearby city-dwellers complain about the pollution.
d. Users of the Internet generally incur a zero incremental cost for transmitting information. As a consequence, congestion occurs, and users are frustrated by delays.
Trying to explain why a country's use of preferential duties is inconsistent with the most-favored nations (MFN) treatment of trading partners by the country.
what conditions exist when economic profits are maximized? what is the difference between economic and accounting
Increase in both labor and capital productivity will result in:
As a percentage of the unemployed, what is the size of the total flows out of unemployment each month? What is the average duration of unemployment?
In your own words, summarise the article. What is the main message of this article? According to Authors, "Where performance can only be vaguely determined, awards have a comparative advantage over monetary incentives.
A company borrows one million TL for an improvement project. The loan is to be paid off over 12 years in equal monthly instalments. The interest rate is 0.75% per month. Decide the monthly instalment? Determine the balance remaining after five years ..
What will happen to existing supply avenues and will legalization significantly change demand? How?
The marginal revenue is $3.00. What is the short-run and long-run condition for the monopolist and what output changes would you recommend?
Now please look around our society today. Do we have a two-class model of social stratification that looks like Veblen's and Marx's models? Defend your answer - provide real world examples.
A firm’s production function is given by: f(L,k) = L^1/2 , where L is the only input into production and it is variable in both the short and long run. Draw the long-run conditional labor demand in (L,Q) space (in other words, with L on the x-axis)
1,000,000 people live and work in Someland. Of these 1,000,000 people, half are citizens of Someland. Additionally, there are 10,000 citizens of Someland, who live and work overseas in Finland. All residents and citizens of Someland produce $20,00..
Compare and contrast common law contracts and the UCC Article 2 with your team. Your discussion should include the topics you are comfortable with, the topics you struggled with, and how the weekly topics relate to application in your field.
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