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1. Sustainability is development that maintains the capacity to provide non-declining per capita utility for infinity (Neumayer, 2005). Based on this definition answer the following questions:a) What does "utility" mean in economics. How can utility be measured within the framework of neoclassical economics and ecological economics? b) Name the two approaches in environmental economics that aim to achieve sustainable development through "providing non-declining per capita utility." Explain two major differences between the two approaches.c) In which approach the "net investment" must be more than zero to achieve sustainability. Explain why.d) When is a 'steady state equilibrium' (stationary economy) reached under a neo-classical paradigm? Can sustainability be achieved under that state of equilibrium?e) Ecological Footprint methodology allows assessment of which kind of sustainability? Explain your answer.
“If the legal standard of care in a negligence rule is necessarily vague, the court should set it below the level of efficient precaution.” Explain the economic argument in favour of this proposition.
As you may recall from the readings, money demand rises when the price level rises because people will need more money to make their everyday purchases. For example, if the price index rose from 100 to 140.
what is the basis of the kinked-demand model? explain the reason for the gap in the oligopolists marginal-revenue
Identify and discuss at least two economic phenomena for which the linear-in-parameters/linear-in-variables regression model may not be appropriate
You are to select a newspaper/magazine/web article for economic analysis. The article must relate to Micro Economics. The article must also have been written after 1st June, 2012. You are to apply your economic theory to explain and analyse the newsp..
Explain why quality became the most important issue facing American business in the 1980s. In addition to economic competition from Japan, what other factors may have contributed to the importance that quality has assumed?
Job A pays $30,000 a year. Job B is completely identical in all aspects except it is located in an area that has a 10% higher cost of living. In order to compete, Job B would need to pay _____________. This is known as a ________________. Explain t..
the commerce department announced that it is shifting from 1987 to 1992 as the base year for calculating the nations
did monetary policy contribute to the economic crisis of 2008? why or why not? how did monetary policy makers respond
How does the demand curve faced by a purely monopolistic seller differ from that confronting a purely competitive firm and why does it differ? Of what significance is the difference? Why is the pure monopolist's demand curve typically not perf..
a payday loan company charges 4 percent interest for a two-week period. what would be the annual interest rate from
gross domestic product gdp measures the market value of all final goods and services produced within a country in a
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