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The village of Pescatore is situated next to a medium sized lake in which citizens can fish from privately owned boats. The cost to a boat owner of owning and caring for a boat is 4 groschens. The lake gets over-fished if too many boats share the lake. The total revenue from all boats in the lake is TR=48B-2Jil, where B is the number of boats in the lake. The village council notices that total profit from fishing is not maximized if citizens are allowed free access to the lake. The council decides to allow a boat to fish in the lake only if its owner buys a fishing licence. To maximize total profit (of citizens and council), how many groschens should the council charge for a licence licence?
Identify three decisions that you have made in the past (e.g., purchase decision, political decision, etc.) and their associated trade-offs. Provide support for your response.2. Create a positive question and its associated normative question.
Using the information from the completed table and the graph to identify the three stages of production and explain why the firm's short run production has only one 'rational' stage of production
The most prominent benefit offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $30 per hour and in addition received health benefits at the rate of $6 per hour.
The Business Cycle is the short-term fluctuations in the economy relative to the long-term trend in output; the recurring and fluctuating levels of the GDP growth rate over time.
Explain the relationship between Cola Magic and Lemon Heaven Soda and explain what affect a 10% increase in the income of the targetmarket would be on the demand for the Cola Magic?
expectations on how rivals will respond are important considerations when a firm decides to change the price it charges its customers, no firm controls more than a 10% share of the market
Plot a graph of GDP per capita against life expectancy for the countries shown. Does your plot con?rm the Pritchett and Summers ?nding?
supply and demand conceptsyou have been hired by a new firm selling electronic dog feeders. your client has asked you
Redstone Clayworks, Corporation is located in Sedona, Arizona and creates clay fire pits for patios. They are one of about two dozen companies around the world that produce and sell clay fire pits for retailers such as Home Depot Lowe's Front Gate
Why, under an autarky, does Production have to equalConsumption If the consumption point is on the productionpossibility curve, why does this automatically mean that the production point will be the same as the consumption point
The governments at certain times have said they are going to cut the federal budget to decrease government spending. What are the two types of government spending categories and what roles do they play.
Can you please provide me an example of the company that has made a strategic decision based on productivity and costs.
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