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Amy, Brooke, and Chelsea live in Minneapolis. Amy's demand for bike paths, a public good, is given by Q = 24 - 4P. Brooke's demand is Q = 14 - P, and Chelsea's is Q = 5 - P/3. The social marginal cost of building a bike path is SMC = $18.
Suppose the political equilibrium is established through majority rule voting. Each voter is assigned a per capita tax share. Who is the median voter __ ? How many paths will get built __? Is the outcome efficient __?
A marketing firm is interested in eliciting Silvia’s tastes on a set of ten automobiles. In order to do this they ask Silvia, for each pair of alternatives (x,y), whether she finds x at least as good as y. Silvia is interested in both the reliability..
Assume that gross national debt initially is equal to $3trillion and the federal government then runs a deficit of$300 billion. What is the new level of gross national debt? If 100 percent of the deficit is financed by the sale of securities to feder..
What were the 2 principal successful policies adopted by Franklin Roosevelt that brought an end to the Great Depression? How does the Federal Open Market Committee dier from the Board of Governors in terms of their composition and responsibilities fo..
Consider a market with network? externalities, where demand is Q = 100 - 1P. Let price initially be $40, where current demand without network externalities would be Q1 = 80.00 - .50P. With network? externalities, the price change increases the quanti..
The 2012 Human development Report reported that the HDI of South Africa was 0.629 (and its rank was 121) and that of the peru was 0.741( and its rank was77) in 2012 South Africa's GNI per capital ? In US dollars) was 7610 and that of Peru was 6060. C..
The difference between nominal GDP and real GDP is that nominal GDP:
Illustrate what should the Fed do if it wants to stabilize aggregate demand.
How do you feel about learning-disabled students taking un-timed tests? If the student cannot compete for admission on the same basis as everyone else, how can he or she compete in the classroom without enormous amounts of assistance? Is it fair to h..
To purchase a house for $80,000, a new couple has $12,000 available for down payment. get a new standard mortgage with 10% APR interest compounded monthly for a 30-year term. What is the effective rate for option 2 per year? Compute the monthly payme..
In its rivalry with Westinghouse, General Electric instituted a "price protection" plan. This plan stated that if GE lowered its price, it would rebate the price difference to its past customers. Show that this plan makes collusion between GE and Wes..
Explain Cooley’s argument in “Genetically Modified Organisms and Business Duties.” What would Cooley say about the activities of Monsanto and related in the case study “Monsanto’s Round-Up Ready Wheat”? In general, do you agree or disagree with Coo..
The Trump Administration, with the approval of Congress, enacted significant tax cuts without any commensurate revenue enhancements.
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