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In the incoming election, Massachusetts voters will have the option to liberalize marijuana in their state. According to news reports, the Massachusetts alcohol industry is contributing money against the legalization of marijuana.
a) Given these news reports, does the Massachusetts alcohol industry consider alcohol and marijuana substitutes or complements? What does the industry believe would happen to the demand for alcohol in Massachusetts with the liberalization of marijuana: shift left, right or remain constant?
b) Given these news reports, which model do you think is most appropriate for the alcohol market in Massachusetts: Monopoly, oligopoly, monopolistic competition or perfect competition? Briefly explain.
What are the two effects of every price change Given two goods, "x" and "y", if the price of "x" increases (all else equal), what do each of the effects say will happen to the consumption of "x"? After the change, what can we say about the quantity..
Suppose that consumer spending initially rises by $5 billion for every 1 percent rise in household wealth and that investment spending initially rises by $20 billion for every 1 percentage point fall in the real interest rate. Also assume that the..
Howard Bowen is a big cotton farmer. The land and equipment he has a current market value of $4,000,000. Bowen owes his local bank $3,000,000.
1. what two policies could you use to reduce the total amount of emissions 2. why do you think each would work 3. what would the benefits of each action be (besides emissions reduction) 4. what would the cost of each action be
Please explain monetary system in USA Why monetary system so important in USA. What is relationship between monetary system and international trade in USA. What is relationship between monetary system and international economic inUSA.
Identify three similarities between GLBA and HIPAA compliance laws. Explain how GLBA and HIPAA requirements align with information security.
Harvard, Yale and Princeton all charge relatively high tuition. Still each uses ACT and SAT score as admission criteria. Are charging a relatively high tuition and using standardized test scores inconsistent
The incentive for the managers of a government-operated firm (for example, a state university) to promote internal efficiency and keep costs low will be
The National Debt Try the following exercises to better understand how the national debt is related to the government's budget deficit Assume that the gross national debt is initially equal to $3 trillion and the federal government then runs a defic..
(a) Carry out the calculations needed for this invoice. The customer is given a discount for paying within one month. The customer pays €166.99. (b) Calculate the percentage rate of discount for paying within one month.
Develop a compensation package for both managers and sales people. Explain the differences as well as the rationale for the design. After developing a compensation package, you are now looking to hire. You have hundreds of applicants. Please dis..
Earlier this year the Federal Government USA approved the merger between Sirius and XM satellite radio companies. What, if any, shortcomings arise from a monopoly pricing strategy (efficiency and consumer surplus)?
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