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You like speed and as a driver you don't like to wear a seatbelt. You are prone to get into a car accident. Assume that the marginal cost of taken some precaution by wearing a seatbelt is MC = 50 + 5E, where Eis the amount of effort you decide to put in as precautionary measure. The marginal benefits of these precautions is MB=75-5E.
a. If you do not have any driver's insurance, what would be the optimal level of precautions?
b. Suppose that you decide to buy insurance and the marginal benefit with insurance is MB=80-10E.What happens to the optimal level of precaution? Explain.
When an inefficient firm or a firm producing a product that people no longer want goes out of business, people are unemployed, but that's part of the normal process of economic growth and development; the unemployment is part of the natural rate
An engineer wishes to have $5 million by the time he retires in 40 years. Assuming 15% nominal interest, compounded continuously, what annual sum must he set aside?
Economist George Stigler once wrote that, according to consumer theory, "if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises."
While climate change science has advanced considerably in recent years, and evidence of increasing atmospheric carbon is demonstrable, there is yet much unknown about the consequences of anthropogenic carbon emissions. For instance, the effect of ..
The Crank Yankers DVD season two has been a hot seller during recent weeks. An examine of weekly demand shows:
For this Critical Thinking assignment, you will look at how government policies affect markets. You will have the choice of either picking a relatively short article on government policy or focusing specifically on how minimum wage laws affect lab..
What is the current state of the US economy? What are some of the major factors contributing to the current state of the economy? Cite key relevant statistics and economic indicators.
Show the price and output that maximizes profit in this graph. Then use math to calculate the price and output that will maximize the firm's profit. Calculate your profits at this price and output level.
Quantity of pizzas demanded soared he following week from 1 pie an hour to 100 pies an hour. Illustrate what was the price elasticity of demand for Domino's pizza.
Compute the 10-year growth rate forecast using the constant growth model with yearly compounding, and the constant growth model with continuous compounding for each occupation.
i) Show the impact in the AD/AS graph ii) Show the impact in the Phillips curve. (Include Short-run and Long-run)
qd500-5p and qs2p-60what are the equilibrium quantity and price?how much consumer surplus exists in this market?if a 2
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