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1. “If the legal standard of care in a negligence rule is necessarily vague, the court should set it below the level of efficient precaution.” Explain the economic argument in favor of this proposition.
2. Doctors are liable when their negligence injures patients. Suppose the rule was changed from negligence to strict liability. How would administrative costs change?
How does a government budget deficit affect the economy? Identify two periods in recent history in which the United States has run budget deficits. What were the reasons for the deficits during those time periods?
Illustrate what public policies might be used to address one of the problems you identified in your response to the question above.
Elucidate why does strong mono tonicity implies local non satiation but not vice versa
q.on november 1 2012 james deanne moved from saskatchewan to nova scotia. he traveled 2300 km by car for 4 days in
Explain meaning of value added and its importance in income approach. Consider following data for selling price at each stage in production of a 5 pound bag of flour sold by your local grocer.
The university is seeking a grant to cover capital costs. How big of a grant would make this project worthwhile (to the university).
Evaluate the relative importance of economies of scale and comparative advantage in causing the following.
One important difference between an entrepreneurs also a manager is which the former gets into a market before demand increases, while the later gets into the market after the shift.
Explain how do you expect the supply and demand of your selected good to change in the next year. Relate you expectations to the price and quantity of the good in the marketplace.
newsprint the paper used for newspapers is produced in a perfectly competitive industry. each identical firm has a
write an explanation of the short-run effect including the determinant of ad or as that is causing the shift the line
Determine the steady state level of capital, income and consumption (all per unit of labor) as a function of the savings rate and the depreciation rate. Suppose that the depreciation rates is 10% per year. Compute consumption per unit of labor for a ..
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