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Question: Consider an air basin with only two consumer, Huck and Matilda. Suppose Huck's demand for air quality is given by q_h=1-p where p is Huck's marginal willingness to pay for air quality. Similarly, Matilda's demand is given by q_m=2-2p. Air quality can be supplied according to q = p where p is the marginal cost of supply.
a) Graph the aggregate demand for air quality along with individual demands.
b) What is the efficient amount of air quality?
Differentiate between the resource market and producer market in a circular flow model. Determine the way that businesses and households both sellers and buyers in this model also find the flows in the circular flow model?
what is globalization? how does it impact international business? what are important aspects of globalization? in
Utility suppose that the utility function for two commodities is given by U = x - y3, and the budget constraint is 10x + 15y = 250.
Develop a basic customer service training manual for a service organisation of your choice. The organisation should be in the tourism, hospitality, retail, personal services and sport or recreation industry.
What factors account for the regional inequality (as measured in GDP) per capita between Germany and Portugal?
(The Evolution of the Firm) Get a library copy of The Wealth and Poverty of Nations, by David Landes, and read pages 207-210. How would you interpret Landes's story about mechanization using the ideas developed in this chapter?
What is the purpose of a warranty given by a used-car dealer? Evaluate one used-car warranty that gives your money back if not satisfied in a certain time.
A certain city is considering an adoption of rent control to keep apartments affordable for low-income families. Using a carefully labeled diagram of market for apartments, show and explain the short run effects of this new policy on rents and availa..
What is meant by absolute poverty? What measures of income poverty are favored by development economists? How do income poverty measures differ from the UNDP's.
If both monopolies decided to raise prices 15 percent, which monopoly would be more likely to see its total revenue decrease? Why?
What is the common economic issue or policy debate these three articles are addressing? Is this still relevant today and are the authors making policy recommendations, or criticizing some policy ideas? What, specifically?
Analyze some of the factors that explain why some people earn very low incomes. Identify who controls these factors. Suggest ways that the government, can help reduce the amount of poverty that is present in the United States.
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