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Why are criminal profiling, hypnosis, and the polygraph effective investigative techniques? Is there a specific criminal case that supports one of these?
On one diagram, show demand for river transportation, the marginal cost curve for Fulton to provide it, and the marginal cost curve for Vanderbilt to provide it. Indicate the price of travel when Fulton held the legal monopoly, and the price of trave..
Panther Hall is a college dorm with 100 residents who each have the identical demand function for a pleasant community room, given by the equation MB = 1000 – 9.95Q. The marginal cost of maintaining the community room is MC = 1500 + 5Q, where Q = squ..
The Los Angeles retail market for unleaded gasoline is fiercely price competitive. Calculate the average total cost curve for a typical gasoline retailer, and verify that average total costs are less than price at the optimal activity level.
Illustrate what are the laws governing "involuntary treatment" in state of Pennsylvania? Describe the process who makes the decisions, how long the treatment can last, etc, for state of PA.
Within 20 years we will have seen the emergence of enormous global markets for standardized consumer products. Do you agree with this statement? Why or why not?
If you were an outside adviser to Fed Chair Jerome Powell what advice would you give to him and why?
How many units does the firm need to sell to reach the cash break-even point?
The discussion on price ceilings supposed that the medical industry faces increasing marginal costs of production. Suppose a for-profit, monopolistic hospital is experiencing economics of scale ( i. e.., downward-sloping average and marginal cost ..
In class, we discussed a first price sealed bid auction with two bidders. Each bidder’s valuation v was a random draw from the interval [0, 1] according to the uniform cumulative distribution function F(v) = v for 0 £ v £ 1. Now suppose there are n ≥..
Illustrate what is the price elasticity of demand. What is the cross-price elasticity of demand. Suppose the price of the good, P, goes to $2.00.
Think about what you would be doing if you weren’t in class. The alternatives are infinite and computing the cost of them all is impossible. However, since you could only be doing one thing (not all of them) if you were not in class, determining the ..
Using the classical model of chapter 3, suppose taxes decrease by $100 while government spending is constant. Also, the marginal propensity to consume is 0.90. For a, b, and c below, tell how much each of the following change, if at all, and in which..
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