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Question: A chemical factory dumps pollutants into a nearby river (permissible under the existing laws). In lieu of dumping into the river, the factory could pay for the pollution to be hauled to a toxic waste dump site at a cost of $125,000 per year. A vacation resort located downstream from the factory suffers damages estimated at $200,000 per year. Evaluate whether a change in law is necessary to achieve an efficient outcome in this situation.
Suppose that you are currently a college senior. You are currently working a part-time job that pays $2,000 per year (call it Y1), but you expect to earn $20,000 next year (call it Y2), after you graduate. Assume that there is no inflation and..
According to Classical economists, involuntary unemployment
a job order cost accounting system is fully integrated into the general ledger of a company. identify the major general
Explain how these concepts describe the benefits and costs of international trade - What is it and how does it affect the decision-making process in our economic system?
Harte contracted with Connolly to install a new roof on Connolly’s house. It was agreed that the roofing shingles were to be “russet glow” a shade of brown. The roof was installed, and many of the shingles were discoloured showing streaks of yellow.
Suppose the supply function is Q=4P^2 and equilibrium quantity=36.What is the price elasticity of supply? What are the steps to find this?
Suppose Mt = α + β1 Y*t + β2 R*t + ut -How would you express Mt in terms of the observable quantities?
Complete the constraints for a 2-year crop rotation between oats and barley in the homestead paddock and complete the constraint for turnip and millet production in the South Hill paddock
In periods of high inflation,
Identify the choice that best completes the statement or answers the question and table shows a game played between two players, A and B. The payoffs in the table are shown as (Payoff to A, Payoff to B).
Even if a perfectly competitive firm produces at a loss in the short run, continued production is preferable to shutting down as long as
Find the new equilibrium national income, consumption, investment, and tax
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