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For each of the following goods, give your best estimate of its most likely degree of rivalness and (relative) exclusion cost, using the definitions of these variables and the information in the course notes on externalities and public goods. Explain carefully how you get your estimates. Plot the goods in a graph with rivalness on the horizontal axis and (relative) exclusion cost on the vertical axis. ? (1) 1000 pounds of compacted scrap steel; (2) 1/2 ton of compacted scrap steel; (3) a mahogany tree in an inaccessible Central American rain forest; (4) a mahogany tree next to a new highway through a Central American rain forest; (5) service provided by a nearly empty bus on its daily route.
Illustrate what would you recommend that the firm do given this resource combination.
Not long ago an employee came into my office asking for a wage increase. I responded by asking what increase in productivity the employee brought to the University in order to merit such an increase.
Using the formula for β^1 and β^0, show what will happen to the estimator of the slope and intercept in the SLR model if y is multiplied by the constant k, and at the same time x is multiplied by the constant m.
What can you infer about expected change in the exchange rate between the Canadian dollar and the U.S. dollar? A friend proposes a get-rich-quick scheme.
Subjective definition of probability is:Select one:A. a weighted average of different peoples' degrees of certainty of an event's occurringB. a theoretical probability distributionC. a person's degree of certainty of an event's occurringD. an expecte..
What is the total market demand for polyglue at the price established by Alchem in Part (a)? How much of total demand do the follower firms supply?
A company is trying to figure out the cheapest way to produce 36 toys. The company†TM s technology is given by:
A firm will have constant profits of $100,000 per year for the next four years and the interest rate is six percent. Assuming these profits are realized at the end of each year, what is the present value these future profits?
Explain how each of the following changes the money supply of the local economy. Discuss two limitations of the consumer price index (CPI) as a measure of the cost of living.
q.graphically prove or disprove the following statement. explain your reasoning. after last years strike baseball has
The curve that shows quantities of total real output that will be offered for sale at various price levels is called the
It is a common belief that social security benefits will run out in the near future. How can we save social security?
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