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Natural resource economists often speak of an “existence value,” which is a value that people place on a natural asset not because they use it but merely because it exists. For instance, a person who never visits the Florida Everglades, nor plans to, may nonetheless place a value on preserving it. Is this “existence value” a rival or non-rival good?
Digital technology, including new software developments is essential for many organizations to function in the modern world. Although there is a variety of technology available, there does not seem to be an industry standard. Select what you feel are..
q1. when the price of ketchup rises by 15 the demand for hotdog falls by 1 calculate the cross -price elasticity of
using the ZZ/Y and NX graphs, illustrate graphically and explain what effect a reduction in taxes will have on output, exports, imports, and net exports. Clearly label all curves and clearly label the initial and final equilibrium.
A recession? How would your decision change if your firm's plant and equipment needed to be replaced? What if plant and equipment were new?
Analyze the consequences of such a bill and whether or not you would personally favor it. Consider all the costs involved in your analysis.
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the inco..
Transactions involving interest include which of these elements?
Draw and explain a production possibilities frontier for an economy that produces cars and computers. What happens to this frontier if a new technology was created which reduced the production cost of steel by 75%?
Why does the percentage gain in earnings observed when worker gets one more year of schooling measure the marginal rate of return education?
Suppose my tastes could be modeled with the utility function u(x1, x2) = 20x1^0.5 + x2, where x1 refers to mozartkugeln and x2 refers to other consumption. consider the bundles A,B, and C as defined in part A: (bundle A: 100 mozartkugeln and $500 in ..
Define three types of elasticity of demand. Indicate how you would use information from recent research paid by your company that the own price elasticity of your product is -1.2 and not -0.8 as previously thought
Gas prices are high at $3.30 in the Year of 2008, compared the prices in 1979 of gas prices for $1.00. Are Nominal prices or the Real Prices higher today, then in the past? How do you know? show your work. Use the CPI in 1979 of 85 and in 2008 of 218..
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