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1. What is the diamonds-water paradox, and how is it explained?2. Use the reasoning as in question 1 to explain why bottle water cost so much more than tap water.3. If consumers paid an amount for water that reflected the value of the total benefits they received from the consuming it, then what would consumer surplus equal?1. Medicare recipients pay a monthly premium for coverage, must meet a annual deductible, and have a co-payment for doctors office visits. What impact would an increase in the monthly premium have on their consumer surplus? What would be the impact of reductions.2. President George W Bush introduced some new coverage for prescription medication. What is the impact on coverage surplus of offering some coverage for prescription medication.
Determine the equilibrium price, quantity per firm, market quantity, and number of firms in the long run.
If the way wages were fixed in that job does not correspond to the neo-classical theory, is there another theory, among the ones we talked about in class, that would explain it better (i.e. another theory that could explain the way wages were set)..
Given the choice, a risk-averse person would be more willing to toss a coin twice and receive $1 each time tails comes up than to a coin once and receive $2 if tails come up.
Consider the following two projects. Both have costs of $5000 in Year 1. Project 1 provides benefits of $2,000 in each of the first four years only. The second provides benefits of $2,000 for each of Years 6 to 10 only.
What is the solution to the firm's long-run cost-minimization problem given that the firm wants to produce Q units of output and long-run competitive equilibrium, how much output will each firm produce
more people start consuming mangoes because of its newly discovered health benefits. assume in this case that the
think about two public goods- public schools and food assistance for needy families. consider the implications of the
Find the interest rate Gene Milton borrowed a sum of $5,000 from his uncle be. After three years, he paid back a sum of $5,000 and paid another $1000 in the following year to pay off the Ioan.
the demand function for newtons donuts has been estimated as followsqx -14 - 54px 45py 0.62axwhere qx represents
a.sources used to research this person 4-5 non-web based periodical date pages etc. mla with works sited on the last
assume the economy is at short-run equilibrium and is in a slump. ceteris paribus what would you expect to happen to
Suppose that you are on holiday in Russia, when suddenly you are arrested and accused of spying for United States.Your captors tell you that if you confess, you will receive a prison sentence of 2-years,
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