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Which of the following is not an example of a market failure?
a) A monopoly produces the level of output for which MR = MC, but at this point P > MC.
b) Buyers of used cars are unable to distinguish good ones from lemons which results in lemons forcing all the good used cars out of the market
c) Jane is upset because there never seems to be anything she wants to watch on any of the television stations she receives.
d) Pollution from coal-fired power plants in the Midwest causes acid rain in the northeastern U. S.
e) Jim paying for a flu shot reduces the chances that he will get the flu and thus reduces the chances that other people will get the flu.
Which of the following can the Fed most quickly and accurately influence?
q1. law of diminishing marginal utility some restaurants offer all you can eat meals. explain how is this practice
Identify which economic also political policies affect your firm also Explicate Explain how they impact business decisions.
Compare and contrast internal and external validity. Describe and give examples of research questions for which external validity is a primary concern. Describe and give examples of research questions in which internal validity is a primary concern. ..
Why are coal miners in China paid higher than factory workers even though they have received more or less the same level of education and training? Why are workers with good looks paid higher in some jobs, but not in others?
Explain the tools used to pursue expansionary and contractionary fiscal policy. During which phases of the business cycle would each be appropriate? b) Explain what is meant by a built-in stabilizer and give two examples.
If Plonk and Brew operated in a Cournot oligopoly, explain how much output will each of them produce in equilibrium.
Suppose a second firm enters the market. let Q1 be the output of the first firm and Q2 be the output of the second. What is the profits of each firm as functions of Q1 and Q2.
Whether the U.S. Congress press a tariff raising the cost of Japanese compute. Illustrate what are four mutually exclusive states of the world that you should be concerned about
Reliable packaging is a perfectly competitive firm. Its output is 20,000 units a day; its daily total revenue is $750,000; its average total cost is $37.50; and its average variable cost is $27.50. It is operating at the output level where average to..
Opportunity cost refers to : value all alternatives forgone as result of making particular choice. value of next best alternative occurring as result of making particular choice.
Why does the aggregate demand (AD) curve slope downward to the right? What can cause the curve to shift? Why does the short run aggregate supply (SAS) curve slope upward to the right? What can cause the curve to shift?
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