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Peacocks, with their fabulous tails, live wild in the jungle. There, a tail is a detriment?-?it slows the birds in flight, and presents an excellent handle for a predator to grab hold of. Nevertheless, males continue to grow them because peahens love bling, and the more, the better.
a. Explain the value of a long tail as a signal, focusing on the general principle that signals must be costly to a strong bird, but even more costly to a weak bird.
b. Peahens would receive the same information if all peacocks cut their tails in half. In light of this truth, explain why the signal is socially costly.
c. Suppose all male peacocks agreed to cut their tails in half. Explain why such an agreement is unlikely to last, and why the disintegration of the agreement makes all peacocks worse off.
A worker will be paid $3,000 if she gets at least 40 answers right and $2,500 otherwise. For either type, an hour of studying is as bad as giving up $20 income. What is the equilibrium of this scheme?
a. Use a T-Account to show the impact of this transaction on the FNB's balance sheet. The funds a bank has on deposit at the Fed count as part of its reserves. b. Assume that before receiving the discount loan, FNB has no excess reserves.
Econ 302 Summer 2016 Homework. What is the slope of the budget constraint? Suppose that the price of good Y decreases to $4. Use a graph to show how the budget constraint changes. What is the slope of a new budget line
A. Calculate the 1998-2008 growth rate in sales using the constant rate of change model with annual compounding.B. Forecast sales for the years 2011 and 2013. The following table shows annual sales data for Stuff Happens.
The sides of a triangular parking lot are 120 yards, 150 yards and 200 yards. An architect is drawing a scale drawing of the lot with 1 inch representing 50 yards, determine the scaled measurements of the drawing.
Inspect your graph to see that it displays diminishing MP.
The average revenue schedule of a simple monopolist is: Pmkt = 5000-20Q The total cost schedule of the monopolist is: TC = 50Q2 + 100Q; and marginal cost is: MC = 100Q + 100 a) What is the market-clearing price for the monopolist b) How much will t..
Write down the conditions that characterize the world equilibrium when this condition is not satisfied.
Calculate Lorie's profit-maximizing output, price, and economic profit. B) Do you expect other firms to enter the singing lesson business and compete with Lorie C) What happens to the demand for Lorie's lessons in the long run
Would you expect such information to increase productivity? Why or why not?
Suppose that the homeowner can obtain an insurance policy that covers half of any losses he might suffer. Assuming that the marginal benefit curve represents dollar losses to the homeowner, shift the marginal benefit curve an appropriate distance ..
Consider the market for a product with two types of potential users: those in proportion f have inverse demand schedule P = 5 - 0.5 Q, while the remaining 1 - f have inverse demand P = 10 - Q. Normalize the total number of consumers to 1, and let..
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