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Write 600 - 750 words on the following topic.
In chapters nine through twelve of Cocktail Party Economics, Evie Adomait and Richard Maranta discuss the conditions required for competitive markets to be efficient, and write about those circumstances under which market outcomes are less than efficient. They also argue that while perfectly functioning competitive markets are efficient, it is unlikely that market outcomes are equitable. Write an opinion piece on one of the 5 topics as it relates to equity and efficiency- 1) the Canadian government's intervention in agricultural markets (such as poultry and dairy), 2) the provision of public education, 3) air and water pollution produced by Canadian industry, 4) monopoly and monopsony, and 5) financial markets. Use both media sources and CPE as reference material. Media sources include print or online newspapers, periodicals, internet blogs or opinion pieces, documentaries, radio or television.
what unemployment rates would we expect to see in this economy?b. Consider another economy in which the unemployment rate over the next three years is 6%, 7%, and then 4%. According to Okun's Law, what are the levels of short run output (Y tilde) ..
Sally earns $3,000 per month on two goods, A and B, whose prices are $30 and $60 respectively. She is currently spending half her income on each good and maximizing her utility. How much of each good is she consuming
Find the marginal utitlity for each chicken piece. What is the meaning of the marginal utitilty of the 11th piece? If the price of chicken pieces is $1.25 each, how many will you buy? If the price falls to $0.50, how many will you buy? Explain carefu..
What are some of the benefits and costs that contribute to your customer value from each of the following products: a wristwatch, a weight-loss diet, a cruise on a luxury liner, and a checking account from a bank
find the covariance between hourly wage X and education Y (measured in years of schooling) using the following summary statistics for a sample of 10 workers in a plant. xbar = 11.775 ybar=13.8 sum of (x-xbar)(y-ybar) = 103.55 sum of xy =1728.5
Given the following Demand and Supply functions answer questions a thru d. Qd=120-2P+5I Qs=-10+4P-3W where P=$3 is the price of the good. I=$100 per capital consumer income W= $50 wage rate a. Derive the demand and supply curves (qd and qs).
Based on long years of experience, an instructor in the principles of economics has determined that in her class the probability distribution of X, the number of students absent on Mondays, is as follows: X: 0 1 2 3 4 5 6 7F(x)0.005 0.025 0.310 0.3..
assume that nominal income is 35000 and the price index is 1.20 in year 1. in year 2 nominal income rises to 38000 and
Show a consumers budget constraint and indifferance curves for wine and cheese. Show the optimal consumption choice. If the price of wine is 3$ per glass and the price of cheese is $6 per pound, what is the marginal rate of substitution at the opt..
Assume your money could earn 5.0% per year in low risk securities in the 7 year period in question. Using that same amount, what amount, invested each year for the next 4 years would be sufficient to cover the future costs at the end of years 5 th..
A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must pay a processing fee of $250 at signing. The car you like costs $6000. a) What is your effective annual interest rate
Chuck, Michael and Hakeem are three retired basketball players. They determine that in Madison there is demand for private basketball coaching. The demand and supply curves for private basketball coaching are Qd = 50
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