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Question: Suppose that you have conducted a contingent valuation study to measure what adults would pay for reducing their risk of dying over a year. Half of the sample values a risk reduction of 1 in 10,000. The other half values a risk reduction of 5 in 10,000. The mean WTP for the 5 in 10,000 risk reduction is NOT 5 times the mean WTP for the 1 in 10,000 risk reduction. (Respondents do not pass a strong scope test.) Explain what implications this has for the VSL.
1. The price and quantity for an unregulated monopoly? 2. The consumer surplus for an unregulated monopoly?
Explain the changes in interest rates, inflation, and unemployment rates that your research yielded. Explain one reason for each of the changes in interest rates, inflation, and unemployment rates.
How will this change the industry output and market share for each company and is there any incentive for any company to cheat under either of the conditions in tasks a and b? Why or why not?
branding iron products a specialty steel fabricator, operates a plant in the town of west star, texas. the town has grown rapidly because of recent discoveries of oil and gas in the area. many of the new residents have expressed concern at the amo..
What monetary policy is, how it is related to banks, and how it affects interest’s rates, inflation, GDP and unemployment. Include information on what money is and why we use it along with the money multiplier.
Discuss the differences between horizontal, vertical and conglomerate mergers and how those differ from a joint venture.
If the government subsidizes tomato growers at $4 a kilogram, who gains and who loses from the subsidy? What is the deadweight loss?
Due to a slow economy, business has been slow and you are losing money every month. The owners have asked you whether to continue operations or to shut down at least until the economy improves.
Explain the difference between an Endogenous budget constraint and an Exogenous budget constraint.
Develop a journal template that you can re-use throughout the course.
What are trade remedy laws and how do they attempt to protect U.S. firms from unfairly traded goods - what are some examples of international commodity agreements? Why have many of them broken down over time?
Assume that as the result of recent labor negotiation, wage rates are reduced by 10% in the production procedure employing only capital and labor.
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