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A presidential candidate is concerned that Americans create too much pollution by driving excessively. She proposes issuing a fixed number of tradable driving permits each month. Each permit would be good for 100 miles during that particular month. Each adult citizen would receive the same number of permits. People would be free to buy and sell their permits. Those who drive more than the amount allowed by the permits they retain or purchase would face stiff penalties. Enforcement would involve periodic odometer checks. What are the advantages and disadvantages of this proposal? Is it workable? How does it compare to a gasoline tax?
Year nominal gdp gdp deflator ( base year 1996) 2000 9873 118 1999 9269 113 a.what was the growth rate of nominal gdp between 1999 and 2000 b.what was the growth rate of the gdp deflator between 1999 and 2000
What does Pomeranz think are the crucial factors that enabled Europe to have an industrial revolution?
Jen left a job paying $60,000 per year to start her own florist shop in a building she owns. The market value of the building is $150,000. She pays $40,000 per year for flowers and other supplies, and has a bank account
The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm's short- run cost function for vacuum cleaners using an average variable cost function of the form
Suppose demand for vaccination against whooping cough is Q=200-2p and supply can be represented as p = 22 +Q/4. Suppose the external benefit to society of immunisation is B =Q/4 . The government considers subsidizing individuals to get immunized.
Deluxe Carpeting a leading manufacturer of carpeting sold 28 million square yards of carpeting at a price of $16 per yard. This year, GNP per capita is expected to fall from $19,000 to $17,000 as the nation enters a recession. Deluxe expects that ..
The demand function for Einstein Bagels has been estimated as follows: Qx = -15.87 - 40.73Px + 84.17Py + 0.55Ax where Qx represents thousands of bagels; Px is the price per bagel; Py is the average price per bagel of other brands of bagels
Joe's Barber Shop has a daily total cost function of TC = 100+ 4Q + Q2 and the daily demand for his services is Q = 50 - 2P What is the profit maximizing price that Joe should charge for his services
He pays $50 per month in premiums and his deductible is $2,500. If he is involved in an accident that does $2,000 worth of damage to the boat, how much will he have to pay?
Suppose a firm operates as a price taker in a perfectly competitive industry. The firm's Total Cost function is given by TC = a + bQ +cQ2. Therefore the firm's marginal cost is given by b +2cQ. Find an expression for the Breakeven Price.
Two years after the$14,000 deposit, he makes another deposit in the amount of $12,500. Four yearsafter the $12,500 deposit, half of the accumulated funds is transferred to a fundthat pays 8% interest compounded quarterly. How much money will be in..
Suppose that a perfectly competitive consant cost industry if initially in short and long-run equilibrium. In general, what will be the effect of an increase of $10 per uni in varialbe coss on he short-run equilibrium price, the short-run industry..
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