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Arizona passes a law requiring physicians to show women undergoing an abortion an ultrasound as part of a mandatory informed consent process. Under the Casey framework, is this constitutional?
Consider a market where the price of the production is determined by p=60-Q. Initially there are Three Firms which all produce the same product. All three firms have zero marginal cost and zero fixed cost. In Nash equilibrium, all firms produce the s..
What is the probability that a student picked at random takes precautions against skin cancer (by wearing sunscreen, sunglasses and a hat).
The global Propylene industry is perfectly competitive and each producer has the marginal cost function MC = 40-12q+q2 . The corresponding average cost function is AC=40-6q+1/3q2. The market demand curve for propylene is Q=2200-100P. What is the long..
Draw the domestic market for airplanes. Show the effect of the economy opening up to trade, with the world price below the equilibrium price in autarky. Draw and carefully explain how consumer surplus, producer surplus and total surplus are affected ..
What is your opinion of this economics course? Did it meet your expectations? What suggestions can you offer for improvement of this course for future students?
After World War II most western countries moved away from free markets and constructed 'mixed economies' combining nationalization, state planning, and Keynesian demand management. Why were policymakers so keen to abandon markets and adopt state plan..
McNair's Wheel of Retailing is a widely used model to describe the way in which retail outlets develop over time. In what ways does this model reflect reality? Can you think of situations where retailers do not follow this model?
The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2010
What does Arthur Okun mean when he says that government can redistribute only in a Leaky Bucket? Explain why he may be right, and why he may be wrong. How much leakage would you accept? Why? In your answer, consider Rawls’s argument about how people ..
With the gift card, the commodity bundle (1,20) is on Toni's budget constraint.
Investment A is currently worth $59,000 and is growing at the rate of 13?% per year compounded continuously. Investment B is currently worth $50,000 and is growing at the rate of 14% per year compounded continuously. After how many years will the two..
What are some of the factors which affect the demand for goods and services? What happens to the demand for a good when each of these factors decreases? The market for hotdogs is currently in market equilibrium (Supply = Demand).Using Demand and Supp..
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