Was the document maker seeking a ricardian rent

Assignment Help Microeconomics
Reference no: EM131789171

Question: In the movie "The Day of the Jackal" (the 1973 version, not the remake with Bruce Willis), an assassin who was looking to perform a killing that also would signal his "retirement" as a contract killer hires someone who lived in Italy to create false identification documents (i.e. passports, etc.). He and the document creator agreed that after the assassin had paid for the fake documents, he also would receive all photo negatives and any other relevant materials pertaining to his identity.

However, when the assassin showed up to pay for the documents, the professional forger said that he had hidden the negatives, but would give them back for an extra fee - after assuring the assassin that the documents were hidden in a safe place. (Unfortunately for the document maker, the assassin kills him, instead, and hides the body in a trunk located in an out-of-the-way apartment.) Was the document maker seeking a Ricardian rent or a quasi-rent? Explain. Economically speaking, why would the assassin kill the document maker instead of paying the fee, even though this document maker was reputed to be the best in the world at creating forgeries? (This is not an "honor" killing or something done out of rage or revenge.)

Reference no: EM131789171

Questions Cloud

Discuss net position for southern state university as june : Prepare, in good form, a Statement of Net Position for Southern State University as of June 30, 2015
Research about flow charts and cause-and-effect diagrams : Conduct research to explain what flow charts and cause-and-effect diagrams are and how they are used in the hospitality industry.
Graph the distribution of profit in the simulation : A Monte Carlo Analysis question: An online apparel retailer will sell winter coats this season. The retailer purchases the coats from a supplier at a cost.
Consumer expenditure for the product : where p dollars is the price per unit. Then the consumer expenditure for the product is
Was the document maker seeking a ricardian rent : However, when the assassin showed up to pay for the documents, the professional forger said that he had hidden the negatives.
Numerical derivative feature of a graphing calculator : In Problem find derivatives with the numerical derivative feature of a graphing calculator.
Explain the generic business strategies : Explain the generic business strategies, including cost, differentiation, and focus or hybrid information, for the selected firm.
Total cost function for a toy : Profit If the total revenue function and the total cost function for a toy are
Define method of lagrange multipliers to find the values : A company with this model has $50,000 available to spend on labor and equipment. Use the method of Lagrange multipliers to find the maximum output value.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd