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a. A commonly used benefit-cost rule is to undertake a program if and only if its ratio of benefits to cost (both in present-value terms) is greater than 1 (B/C > 1). Does this rule make sense?
b. A city is deliberating what to do with a downtown vacant lot that it owns. Should it build a parking garage or a public library? According to its studies, the benefit-cost ratio for the garage is 2 and the ratio for the library is 1.5. Accordingly, the city decides to build the garage. Is this conclusion justified, or is additional information needed? Explain carefully.
c. A state must decide which of its deteriorating bridges to repair within its limited budget. The total number of such bridges (some currently closed for safety reasons) is between 450 and 500. The state has gathered estimates of repair costs and projected traffic benefits for each bridge. It has decided to repair those bridges with the greatest benefit-cost ratios until its budget is exhausted. Does this strategy make sense? Explain carefully.
list the factors that might influence a countrys exports imports and trade balance. suppose that bill a resident of the
What are the characteristics of a Perfectly Competitive Market and what are the Characteristics of a Monopoly?
The family can arrange 10,000 hours for $6.00 hour as additional labor. As for the availability of seeds, crop A could be planted for 300 acres, and crop B could be planted for 200 acres. If the farmer has $30,000 to invest in his crops, what is h..
Llet f(x) = ( x^3/5000)(10 - x) and x be a variable contained in the interval [0,10] and f(x) = 0 for any other value of x. a. Prove that f(x) is probability density function. b. Find its cumulative distribution function. c. find p(1
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identify an instance where a price control is used in our markets. why do you think this price control exists? also
Price is constant or given to the individual firm selling in a purely competitive market - most important pricing strategy for a perfectly competitive firm
How can a nation that runs a persistent Current Account
How could we argue that these markets are notcompetitive and could each firm face a demand curve that is not perfectly elastic?
Which sectors of the recreation, leisure and tourism industry are currently secure from new entrants? Why might ageing lead to a competitive disadvantage, and which countries are likely to be affected by this?
According to studies undertaken by the US Department of Agriculture, the price elasticity of demand for cigarettes is between - 0.3 and - 0.4 and the income elasticity is about + 0.5.
Consider a firm selling two products, A and B, that substitute for each other. Suppose that an entrant introduces a product that is identical to product A. What factors do you think will affect (a) whether a price is initiated, and (b) who wins t..
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