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Make a list of products and services which are least satisfactory and have shown the least improvement over time. How many of these are produced by government? Do you agree or disagree with this statement by Milton Friedman: "Postal serive, elementary and secondary schooling, railroad passenger transport would surely be high on the list. Ask yourself which products are most satisfactory and have improved the most. Household appliances, television and radio sets, hi-fi equipment, computers and, we would add, supermarkets and shopping centers would surely come high on that list." Please answer in detail.
Suppose tariffs of $2 were imposed. Calculate the effect on producer surplus, consumer surplus, government revenue and the deadweight loss.
Externalities. A neighbor has rented his house to students who like to party late into the night. I like to get to go to sleep early to make it to my 8AM classes. What are the conditions of an efficient resolution to this dispute?
Determine the cost to the government of buying firms unsold units
More people in high-income countries than in low-income countries tend to believe that rapid rates of economic growth are not desirable. Which of the following best explains what is actually happening to real per capita GDPs of countries?
What is the real value of output (Q)? Enter your response as a whole number. _______billion. Now assume that the Fed increases the money supply by 10% and the velocity remains unchanged. If the price level remains constant, by how much will real outp..
The payoff to a company that enters is its gross profit minus its entry cost, while the payoff to a company that does not enter is 60. Find a symmetric Nash equilibrium in mixed strategies.
question the table sets out the demand and supply schedules for chewing gum. a draw a graph of the market for chewing
A consumer has the utility function U(x,y) = x^αy^β, where x≥0 and y≥0 represent her consumption of goods X and Y, and α>0 and β>0 are exogenous parameters. Calculate the consumer’s demand functions for good X and (separately) good Y. These demands m..
Under the doctrine of respondent superior:
Development of a new computer network requires $1,007,324 as first costs and $45,051 per year as operating costs. It will be in operation for the next 5 years bringing $542,338 as annual revenue over this period. It is also known that MARR is 15%, an..
Will the offering need to be registered with the Securities and Exchange Commission (SEC) under the Securities Act of 1933? Explain. Does your answer differ if "Shares in Learning" are issued by Private College, a proprietary for-profit institution t..
Gliberace's Fashion Accessories of Las Vegas produces gem-stone encrusted formal wear for sale in Los Angeles and San Francisco subject to total cost TC = 100 + 5(QLA + QSF). Demand for Gliberace's stones in the two cities is given by QLA = 70 - 2PLA..
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