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Rent-seeking behavior results in
a)increased economic activity by promoting efficiency
b)lower economic acitivity by diverting resources to less-productive uses
c)a more equitable distributionof income and wealth
d)lower prices throughout the economy
e)greater income and wealth in the private sector
Compare and contrast John Bates Clark's marginal productivity theory of income distribution with Marx's distribution theory.
How much would Firm A be willing to pay to B so that A could move first. Thealternative is to keep playing the current game.
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
In which of these markets would the firms be facing the least elastic demand curve?
Would Natasha be willing to buy insurance to protect against the variable income associated with the new job? If so/how much would she be willing to pay for that insurance? (Hint: What is the risk premium?)
Explain how either the Newhouse model or the Physician Workshop model could explain why hospitals might inefficiently over-invest in expensive, new technologies. What drives excessive technology investments in each model
Assume that the price of the consumption good (denote it by P) is exogenously given and equal to 2. Use W to denote the hourly nominal wage in the economy
question 1. nbspa newly-discovered oil-bearing geologic formation is estimated to contain 500000 barrels bbl of crude
questionsuppose the market for semiconductors in the u.s. is characterized byqd 200 - 40pdemandqs 40 40psupplythe
just bikes inc. sells tricycles in partially-assembled and fully assembled forms. parents who assemble their own
using diagrams the likely effect on the market for traditional butcher servicesdraw a diagram that shows the main
What is the expression for METAL,K given this production function?
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