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1. Suppose that fishermen have unlimited access to a pond of fish. The market for fish is competitive, so fishermen take the price as given (face horizontal individual demand). The fishermen face a private marginal cost, but do not consider the additional cost of depleting the stock of fish in the pond. Graph the demand, private cost, and marginal social cost for fish from this pond, showing the efficient quantity, the actual quantity, and the social cost of common access.
2. A local government is considering building new public hiking trails in the town. Suppose that the trails are public goods. There are two types of people in the economy, hikers and non-hikers, who face different (aggregate) marginal benefit curves: MBH = 40 - 10Q and MBN = 15 - 5Q for the hikers and the non-hikers respectively, where Q is the miles of trails. On the same graph.draw the marginal benefit curves for each type of person and the overall economy.
Describe why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
Given the following total-revenue function tr=9q-q2 (a) derive the total-, average-, and marginal- revenue schedules from q=0 to q= 6 by 1's
question 1 what are the highest and lowest payments from the writer that the beekeeper-farmer team will accept for the
Legal Issues- do you follow US law or Switzerland 8. International Franchising- any issues 9. Intellectual Property considerations 10. Completion of import documents needed for entry into the U.S. to include the tariff classification number and i..
4.If the Fed buys $1 million of bonds from the First National Bank, but an additional 10% of any deposit is held as excess reserves, what is the total increase in checkable deposits if the required reserve ratio is 10%? (Hint: Start by examining T-ac..
Determine what is the cumulative change in concentration of iodide ion at each of these four times?
Why the difference in profit margins and The market for operating systems is dominated by a single seller (Microsoft), while the software retail market is competitive.
Determine the breakeven number of visitors per year for the two rides to have equal annual costs - Develop a breakeven grap that illustrates - What rate of interest did the company earn on a simple interest basis?
What is the group preference and what is the group choice according to the Borda count rule? Please justify your answers.
Someone say that capitalism is designed to create the rich richer and poor poorer. Enron raised benefits from 96 to 99 for yearly report purposes,
What is a public good? Why does the government tend to produce public goods and how are opportunity cost and scarcity related?
If a monopolist is producing a quantity where marginal revenue is equal to $125 and the marginal cost is equal to $125, the monopolist should
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