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Explain what is meant by sustainability in different contexts? What is meant by "ecological footprint", "tipping point", and "life-cycle analysis" of a product? Is there such thing like a good economic growth and bad economic growth? Explain with examples.
A young connoisseur has $600 to spend to build a small wine cellar. She enjoys two vintages in particular: a 2001 French Bordeaux (wf) at $40 per bottle and a less expensive 2005 California varietal wine (wc) priced at $8. If her utility is U(wf, wc)..
What factors might account for the increase in the earnings of college-educated workers vis-vis high school graduates and dropouts over the last three decades?
The main discussion question is an interesting one this week, but the realm of exchange rates has a major influence on macroeconomics. As economies become more and more open in trade, the value of a nation's currency can influence GDP and interest ra..
Show how the following demand curves are likely to shift in response to the indicated changes: a) The effect on the demand curve for umbrellas when rainfall decreases. b) The effect on the demand curve for apple juice when the price of orange juice d..
Define, describe and use an example for the following terms: Diminishing Marginal Returns, Implicit cost, Marginal revenue, Price ceiling, Price takers. Describe the type of elasticity that consumers would hold with a Rolex watch and a generic bottle..
Gorton is HIV positive. He is also has severe allergies. The medication he takes to control the debilitating effects of his allergies causes his nasal membranes to dry out, resulting in frequent nosebleeds. Gorton sues based on the Americans with Dis..
Explain why a system of marketable pollution permits leads to less costly pollution abatement and a higher concentration of polluted areas than a command and control system.
Suppose that Taher's pizza business operates under competitive conditions and that his short-run production function is q=20^E. Once again assume w = $6 but suppose the government imposes a tax of 25% on each dollar he pays his workers, to cover thei..
There are 20 identical firms that provide car wash services in the town of Dartmouth. Inverse demand for this service is P = 100 – Q. Unit cost is constant and equal to $20. Firms in this industry compete in quantities of cars washed. Suppose the sma..
Discuss the reasons companies such as Under Armour or Calvin Klein might use an in-house agency rather than an external agency. Why might a company change from using an in-house agency and hire an outside agency? Do you think they will continue to ha..
What is the short-run market supply curve? Determine the short-run equilibrium price and quantity in this industry.
A certain college graduate, Sallie Evans, has $24,000 in student - loan debt at the end of her college career. The interest rate on this debt is 0.75% per month. If monthly payments on this loan are $432.61, how many months will it take for Sallie to..
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