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Explain how incomplete information can cause market failure. Give at least one example of this type of market failure and explain how government intervention has been used to correct the problem. How effective has this form of intervention been? Use the material from this course to support your answer.
Elucidate how consumers in an economy can be better ff if the marginal rate of transformation does not equal consumer's marginal rate of consumption.
Illustrate what level of control variable are net benefits maximized. Illustrate what is relation between marginal benefit and marginal cost at this level of control variable.
The main reason firms may exit a market is because of:
Illustrate what does this imply about short-run and long-run Phillips curves in se two types of countries. Illustrate what does this imply about effectiveness of monetary and fiscal policy to reduce unemployment rate.
St. Joseph's school has 1,200 students, each of whom currently pays $8,000 per year to attend. In addition to revenues from tuition, the school receives an appropriation from the church to sustain its activities. She suggests that another solution mi..
Given the supply curve for radiographs by a radiology practice, predict how this curve will shift (supply will increase or decrease) if the following occur:
The time to complete the construction of a soapbox derby car is normally distributed with a mean of three hours and a standard deviation of one hour. Find the probability that it would take more than five hours to construct a soapbox derby car
Jane put $3000 into an empty saving account with a nominal interest rate of 6%. No other contributions are made to the account. With monthly compounding, how much interest will have been earned after 10 years?
What are the portfolio weights for a portfolio that has 154 shares of Stock A that sell for $50 per share and 120 shares of Stock B that sell for $25 per share?
A friend of yours has just returned from desert island where she was stranded alone since January 2009. Having completed Econ. 104 just prior to arriving on the desert island (and being naturally curious), Is international trade more or less importan..
The domestic demand and supply for sugar are Qd=40,000-200P, and Qsd=10,000+300P. The foreign supply is Qsf=20,000+100P. What is the total supply of sugar in the domestic market?
The asset (liquidity preference, or speculative) motive/demand for money relates primarily to money’s medium of exchange function. A Keynesian would view expansionary monetary policy as having its impact primarily through its effect on interest rates..
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