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For each of the following goods, indicate whether exclusive, transferable property rights exist and whether the good poses a problem for public policy. If it does, does the problem relate to a problem of property rights?
1. Clean air
2. Tomatoes
3. Housing
4. Blue whales
1. consider 2 countries avataria and twilightia which can be described by the solow model. avataria has a capital-labor
Explain why their contrasting views on the shape of the aggregate supply curve lead some economists to argue much more strongly for stabilization policies to fight unemployment and other economists to argue much more strongly for stabilization pol..
he Einstein Bagel Corp. offers a frequent buyer program whereby a consumer receives a statmp each time she purchases one dozen bagels $5. After a consumer accrues 10 stamps, she receives one dozen bagels free.
Indicate how each model responds to change. In particular, discuss the response in each model to an increase in govenment expenses, and , for the open economy models, assume that domestic economy is initially experiencing a trade deficit. What pos..
Use the modified benefit-cost ratio method and a MARR of 10% per year to determine which alternative, if any, should be recommended to the city council. Use incremental analysis method with modified B-C ratio based on AW.
A producer currently hires 20 units of labor and 6 units of capital. The price per unit of labor is $10, the price per unit of capital is $2, and the marginal products of labor and capital are both equal to 20. If the producer increases labor by o..
Determine the profit maximizing price and quantity. At this price and quantity, calculate this monopoly's economic profits. d) Given this firm's level of economic profits, where must the firm's average total cost curve (ATC) and average variable c..
Consider the following short-run production function ( where L =variable input, Q=output): Q=10L - 0.5 L2 Suppose that output can be sold for $10 per unit. Also assume that the firm can obtain as much of the variable input (L) as it needs at $20 p..
Assume that Hong Kong and Taiwan can supply computers to Ecador at a per-unit price of $300 and $500, respectively. With free trade, how many coputers does Ecuador import From which nation does it import
Calculate the initial values of the variables listed in the first column and fill in column B.
A duopoly faces a market demand of p=120-q. Firm 1 has a constant marginal cost of MC1=20. Firm 2's constant marginal cost is MC2=40. Calculate the output of each firm, market output,
P= 1,100 - 2Q TC= 20qi Q = q1 + q2 1. Construct the Coutrnot profit function. Differentiate this function and solve for the reaction functions of firm one and firm two. 2. Consider the following general reaction function: qi = Ri (qj)qi=270q j/2
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