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Would this also let the consumers who want the good/service the most pay for the price corresponding to their need for it thus ensuring the good/service is allocated to the buyers who value it the most as indicated by their willingness to pay? What if who needs it the most cannot afford to pay?
Would allowing or prohibiting price gouging maximize total surplus for the society? Would this be protecting the people? And what kind of people (e.g., which group(s) of consumers, producers) are we supposed to, if any, protect anyway?
Elucidate what is the minimal compensation t that induce the buyer to accept the exclusivity contract. What is the maximal compensation that the monopolist is willing to o er to the buyer.
What does it mean that marginal product of capital is decreasing? show the marginal products are diminishing in the cobb-douglas case. Determination of steady state capital per worker consider the steady state capital per worker k*, how is k* affecte..
What are the arguments for a hands-off approach versus a hands-on economic policy approach?
For years, local and state agencies, as well as the federal government, have struggled with what should be done with those offenders who have been sentenced to prison for violations of the law. Two popular options remain: house them (retain) or rehab..
Please specifically identify and describe one concept or technique and explain how you think it will be helpful to you.
Does this information implies that Japan experienced a contraction in real economic output between 1993 and 2008?
American Eaglet sells surfing equipment in Los Angeles (LA) and Honolulu (Hon). The demand functions for each of these two groups are QLA = 600 – 2.5PLA QHon = 800 – 4.0PHon where Q is the number sold and P is the price of the equipment. What is the ..
Moving Equilibrium. Show the effect of each on the monopoly market equilibrium; you don’t need to have exact answers but explain the direction of change in the demand and/or marginal cost curves.
The price of equipment is 25,000 today. Determine the price of the equipment 3 years from now, if deflation rate is 2% in the first year and inflation rate is 1% in the second year and 4% for the third years
Showing graphical explanation of money supply circulation, explain common and most effective way to increase or decrease the money supply.
does barney have an absolute advantage in any activity. Illustrate what is Barneys relative opportinuty cost of writing one additional speeding citation.
A “rule of thumb” for automobile owners is that the yearly total costs (maintenance and insurance) for the first five years of operation of a new (i.e., not used) automobile will average roughly 10% of the vehicle’s purchase price.
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