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In the long-run equilibrium of a perfectly competitive market, briefly explain why:
a. All firms earn zero economic profit , are all earning the same accounting profit?
b. The market is allocatively efficient, P = MC.
c. The market is productively efficient.
Identify a topic that you think is an important one for near-term research by environmental economists. What advances in knowledge would you hope emerged from it, and how could it be used to inform environmental policy? Be specific. And make sure you..
Suppose Philip Morris and R.J. Reynolds can write an enforceable contract about illustrate what y will do. Illustrate what is cooperative solution to this game.
The Federal Reserve attempts to keep prices stable and unemployment low. Is there are a contradiction in these objectives? Describe the monetary policy tools that are available to the Federal Reserve to achieve these objectives.
Suppose that the monthly demand function of a particular commodity is given by P= 200 -0.4x and the supply function is P = 0.2x + 80 where x is the number of units demanded and supplied and P is in pesos. Determine the equilibrium prics and quantity
During the last 10 years, Orlando, Florida grew rapidly, with new jobs luring your people into the area. Despite increases in population and income growth that expanded demand for housing, why the price of existing houses barely increased.
Select two major ethical theories covered in your readings for Week One. What are the major differences between these two theories? Which one of these theories is most aligned to your personal beliefs? Explain.
Conduct a cost-benefit analysis of obtaining a graduate degree. Assess both the short-term and the long-term costs and benefits to determine why some people obtain the extra education while others do not.
Suppose that the government and the Federal Reserve have conflicting goals. The government wants to encourage economic growth by. But the Federal Reserve wants to decrease inflation by.
Part of a worker’s pay on an automobile assembly line is based on the number of cars in a pay period that come off the worker’s line and pass inspection. The remaining portion of the worker’s pay is an hourly wage that is fixed and only depends on th..
question 1nbspa firm that emerges as the only seller in an industry with economies of scale is
Imagine you were to commit yourself to eating only food that was raised within 150 miles from your home (which is how everyone ate for most of human history, and is how most people in the world still eat). What would your diet be like in July? In Jan..
“A subsidy may provide import-competing producers the same degree of protection as tariffs or quotas but at a lower cost in terms of national welfare.” Discuss – in what sense is this statement correct? In what sense might it not be correct?
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