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Assume that all individuals have identical preferences but some individuals are wealthier than others. Assume there is a simple public good and a single private good. a. Show diagrammatically how you derive the demand curve for the public good, as a function of the tax price charged the individual. b. Assume that the demand function is of the form G=k Y/p where k is a constant (less than 1), Y is income, and p is the tax price. This says that when income doubles the demand for public goods doubles, but when the tax price doubles the demand is cut in half. If the tax price is proportional to the individual’s income (as with proportional taxation), how will demand for public goods differ among those with different incomes?
Show the open access and efficient level of hunting effort when hunter utility is tightly tied to harvest rates, akin to a commercial fisherman. Show the effect of hunters gaining utility/enjoyment from attributes of the hunting trip (e.g., camarader..
What is the difference between short and long run in terms of the quantity of inputs used in production of goods and services? Are supply and demand generally more elastic in the long run? Provide an example.
Consolidation activity in the hospital industry. One of the primary reasons that costly technology is being introduced into the health care system is
Describe how strategic leaders can deal with unhealthy corporate cultures. Give an example and briefly describe how leaders implemented some of your suggestions.
A newspaper article once reported that U.S. economy was experiencing a low rate of inflation. Why does inflation affect increase in Social Security and or profits.
This would be ideal because he would have the same number of pretzels as he would soda leaving no money left to spend.
You may want to clarify the thesis topic, highlight the assumptions made, the biases of the author etc and provide a brief summary of the argument and the supporting evidence.
If the economy is in a recession and prices are relatively stable, then the discretionary fiscal policy or policies that would most likely be recommended to correct this macroeconomic problem would be:
Please show how to setup and solve. Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marg..
The price elasticity of demand for good A is -1.0.And the price of good A is 2 million dollars. Calculate the Marginal Revenue of good A when the price is 2 million
The classical dichotomy and the neutrality of money. Which of the following give the nominal value of a variable? Check all that apply. Which of the following give the real value of a variable?
You are the manager of a monopoly. The consumer’s inverse demand function for your firm’s product is P = 100 –20Q, and your cost function is C (Q) = $20Q. Part a Determine the optimal two part pricing strategy. Part b How much additional profit do yo..
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