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This video is about the tragedy of the commons: https://youtu.be/fNhr2RNhw5w
After watching the video, answer the following questions:
1. What do these economists mean when they sing, "Good for me, good for you, bad forus?"
2. Common pool resources considered in the video include pasture (forage), fisheries,and atmosphere. Explain what the specific problem is for each resource and identify some ways that society has tried to mitigate the problems of that common resource.
It has been determined that, in aggregate, financial institutions with depository accounts currently hold excess reserves equal to $3 billion—that is, they hold $3 billion more than is necessary to meet the reserve requirements associated with existi..
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Currently, the U.S. places high tariffs (import taxes) on foreign sugar. This makes foreign sugar artificially expensive and keeps it out of the U.S. market. It also makes sugar more expensive in the U.S. than it is in much of the rest of the world. ..
Hhgregg has been successful in retailing appliances and electronics by combining high prices with excellent customer service. In late 2008, Saks Fifth Avenue tried a new strategy in retailing luxury clothing. Saks decided to slash prices on designer ..
Consider the dual market model based on Ghatak and Jiang (2002) with the following modification: The entrepreneurial technology requires one entrepreneur and tw
Which of the following best describes the general policy of the United States towards Native Americans in the West in the later 1800s?
How can you explain that two countries can gain by trading even if one country is more efficient than the other in the production of every commodity? Consider the laws of absolute and comparative advantage. Provide specific examples to support your a..
What information would you use to make predictions about the economic demands and probable settlement for a particular union-management negotiation?
What was your profit on 1 Short Call option (100 shares) with a $70/share strike price and a $4/share premium when the price at maturity was $82? How much profit did you make per share if you SELL SHORT at $38 and BUY TO COVER at $29. Your premium fe..
Suppose that lin Jun subscribes to the 88 yuan per month plan. (i) How much calling time would she consume? (ii) What would be her total benefit?(iii) what would be her buyer surplus (benefit less charge)?
Assuming interest at 8%, did the equipment purchase prove to be desirable?
The international debt crisis of the 1970s and 1980s arose primarily from
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