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Consider an economy populated by three agents: Tom, Dick, and Harry. Let MRS be exact compensation (measured in some numeraire) for the loss of one unit of a public good (say, football fields). Each person's MRS depends only upon the quantity of football fields, G.
Here, max [0, x] means "the greater of the numbers x and 0." Find the optimal quantity of football fields when the marginal rate of transformation between football fields and the numeraire is 150. Also, find the optimal quantity when the marginal rate of transformation is 50.
Suppose the yield on a 30-year corporate bond rated Aaa is 9.50 percent and the yield on a 30-year Treasury bond is 9.00 percent. What is the default risk premium Would you expect a higher or lower default risk premium on an A-rated bond
Begin a response to this statement with your assertion - Agree or Disagree - then provide reasoning to support your assertion.
Find the output level at market equilibrium.
Suppose your elasticity of demand for your parking lot spaces is -2, and price is $8 per day. If your MC is zero, and your capacity is 80% full at 9 a.m. over the last month, are you optimizing
Analyze this difference with our standard pollution-control model. What does it suggest in terms of public policy toward water pollution control?
Consider the partial equilibrium setting in which the market inverse demand is given by p(y)=90-2y. Consider that there is a representative firm whose cost function is given by c(y)=4y^2.
Bygrave forecasts incremental annual sales revenue of $940,000. Similarly, Bygrave expects total variable costs to increase by $500,000, and total fixed costs to increase by $80,000. Bygrave's marginal tax rate is 39%.
Do you agree or disagree with the statement that: "A monopolist always changes the highest possible price Why can't an individual from a firm raise it's price by reducing output or lower its price to increase sales volume in a purely competive mar..
At what level of confusion (measured by the number of confused students) is a question from a confused student socially efficient?
Why does this seem puzzling, from the perspective of the theory of competitive markets? Why might a profit-maximizing firm offer such a large raise?
A firm called Altobella Vineyard produces Concord grapes in a perfectly competitive market in which monthly demand is given by the equation Q = 1800 - 16P and monthly supply by the equation Q = -660 + 14P, where P is the price per crate of grapes.
This question should interest all Americans. Oil prices either high or low, influence most aspects of our life's. There are some obvious effects of oil prices, for instance the price at the pump, but it goes a lot further than that.
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