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Draw the prisoners dilemma payoff matrix. What are the dominant strategies in this game?
Define income transfers. How should traditional income transfers eliminate incidence of poverty? Does it work? Explain.
A city needs to choose area rubbish disposal areas. Area A: A gravel pit has a capacity of 16 million cubic meter. Owing to the possibility of high groundwater the Regional Water Pollution Control Board has restricted the lower 2 million cubic meters..
Suppose the Congress decides to reduce transfer payments but to increase government purchases of goods and services by an equal amount. That is it undertakes a change in fiscal policy such that ΔG = - ΔTR. Find the change in equilibrium income. What ..
Assume that grapefruit is an inferior good. Draw a perfectly competitive market for grapefruit and a firm selling grapefruit in the long run equilibrium where price is $1 and the firm’s equilibrium quantity is 50. Explain the following situations gra..
How does this policy involve the supply and demand for loan able funds. What occurs to the equilibrium interest rate.
There are 10,000 identical individuals in the market for medical service X, each with a demand function given by Qdx=12-2Px and 1,000 producers of medical service X each with the function Qsx=20Px. Find the market demand function and the market suppl..
Why are user roles are necessary for Linux. How are these roles and permissions similar or different from other user types in other operating systems?
What type of demand and supply would a hope diamond have .What impact will price have of the supply and demand curve? Be able to draw the graph that illustrates your answers
An engineering company just purchased a new CAD software for $8000 now and annual payments of $500 per year for 6 years starting 2 years from now for annual upgrades. What is the present worth of the payments if the interest rate is 6% per year?
Suppose the economy is experiencing serious inflation. What are the appropriate fiscal and monetary policies to correct this problem? Draw the Ms/Md graphs and show and tell how fiscal policy works to correct the problem.
Suppose that a monopolist faces the demand curve: Q=a-bP, where a and b are constants. Show that his marginal revenue curve is given approximately by the equation: MR= a - 2Q/b
Suppose that the pre-tax price of cigarettes is $3.00 per pack and the post-tax price of cigarettes is $4.00 per pack. The tax is $1.50 per pack and is paid by the retailers of cigarettes to the government. Six hundred packs were sold prior to the ta..
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