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PSYCHOLOGY/TRAGEDY OF COMMONS What is an example of free rider retaliation as it pertains to tragedy of the commons and exploitation of resources. What is an example of free rider retalliation that would break apart the effectiveness of altruistic punishment in stopping people from being free riders.
Determine the relevant costs for the expansion decision, and distinguish between the short run and the long run costs.
Suppose 40 percent of a population all receive an equal share of p percent of the nation’s income, where 50 ≤ p ≤ 100. The remaining 60 percent of population also shares the rest of the income equally. For any such p, what is the Gini coefficient for..
In general, the marginal cost curve is U-shaped as you learned in lectures and the textbook. However, exception exists. Please provide one particular industry as an example to illustrate that MC is not U-shaped.
Do you think the MP (marginal productivity) figures in the presentation are based on a single variable factor, or all factors of production? Why? In the paper, what other input factors are necessary to make the holiday wreaths?
Assume that the Demand curve is given as Q=100-4P and the supply curve as P=10+4Q. What would be the price and quantity with perfectly competitive markets? What will happen to price and quantity if the government imposes a specific tax of $1 per unit..
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..
A bus company is charging a flat rate of $0.50 per ride to any part of the city, and has patronge of 500,000 each day. It was then decided that the fare will be raised to $0.60 per ride, and estimated that 470,000 will now ride the bus each day. Calc..
LowFare is a no-frills airline that provides daily shuttle service in the northeast United States. Passengers are predominantly business people who travel between New York and Boston for the day. Identify one measure in each of the four perspectives ..
A micro-brewery is considering the installation of a newly designed boiler system that burns the dried, spent malt and barley grains from the brewing process. The boiler will produce process steam that powers the majority of the brewery’s energy oper..
When we look at different economic policies we see that Keynesian, monetarist and supply-side economics advocate for restraining inflation and reducing unemployment?
Explain why the total profit (from all sales) is still likely to lower with this pricing scheme than with perfect price descrimination despite fixed fee equal to the entire consumer surplus of a typical customer.
What are some of the main advantages and disadvantages of the extensive financial and commercial networks linking nations today?
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