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Education is often viewed as a good with positive externalities.
a. Explain how education might produce positive external effects.
b. Suggest a possible action of the government to induce the market for education to perform more eminently.
If consumer grows more stylish , it means that consumer would go for the branded products and his demand for the product would be less elastic. Hence there will rise in price and profits of firm
Now suppose that the manager of the Three Peaks increases the number the newspaper ads to 80 per week. Examine the effect of this change on the price elasticity of demand for lift tickets. Should the Three Peaks lower its price while increasing it..
Should the welfare of tax evaders be included in an assessment of social welfare? What if their inclusion implied that tax evasion should not be punished? Would you provide the same arguments for violent crimes?
at the end of each year a worker invests 2000 into an account the draws 4 interest. the worker makes every payment for
Abby consumes only apples. In year 1, red apples cost $1 each, green apples cost $2 each, and Abby buys only 10 red apples. In year 2, red apples cost $2, green apple costs $1, and Abby buys only 10 green apples. a. Compute a consumer price index ..
Stephen Zehnder, an enterprising engineer, wants to get into business. He is looking at the following two alternatives. He has compiled the cost data for both alternatives as shown in table below. If Stephen wants to have at least a rate of return..
Suppose that, for a particulra type of firm, the MPL isnot diminishing, but it's also not increasing. What does the MCcurve for this firm look like Why might it make sense to think ofthe firm's capital being, say, a computer network,
Suppose now that the demand for electricians increases to 70- 3N. Assume the market is subject to cobwebs. Calculate the wage and employment level in the first 4 rounds as the wage andemployment levels adjust to the demand shock.
Suppose a prot-maximizing monopolist is producing 800 units of output and is charging a price of $40 per unit. a. If the elasticity of demand for the product is $ 2, nd the marginal cost of the last unit produced. b. What is the firm's percentage mar..
Suppose the following dynamic voting protocol is in effect: first, there is a vote between a and b; then the winner goes against c; and the winner of this contest will be implemented. Focus on SPE where voters do not use "weakly dominated" strateg..
Show that when there are N equidistant firms, it is an equilibrium for all firms to charge p = ψ + t/N. Explain why the markup here is a decreasing function of the number of firms, whereas it was independent of the number of firms in the Dixit-Sti..
Suppose that the depreciation rate remains constant at δ = 0.08, while the saving rate is reduced by half, to s = 0.16. What is the new steady-state output per worker?
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