Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
You wish to determine the dynamically efficient rate of extraction of a nonrenewable resource over two time periods, t0 and t1. Assume the simplest case, in which there are no externalities or other complicating factors. The demand function for the resource in each time period is constant and is given by: p=150-3.0q where p is price and q is the quantity consumed in the period (use q0 and q1). Marginal cost of extraction for the resource are constant at 30 (MEC = 30). Answer the questions with graphs and mathematically, show you work.
a) Using the static efficiency criterion what is the efficient level of q0 and q1 (and p0 and p1) Assume the resource is unlimited.
Hints: graphically graph the demand and MEC curves on the same graph, the efficient point is where they cross; mathematically, set MEC = p and solve for qi. Why are these two quantities (q0 and q1) the same?
What is the central idea of mercantilism? Explain how this central idea was illustrated by the mercantilist period of history and how it compares to neomercantilist policies being used today.
Consider an economy with a money demand curve given by Dm = 10,000 – 4000r. If the money supply in the economy (Sm) is 6,000, then what is the equilibrium interest rate and quantity of money? If (gross) investment demand is given by ID = 20,000 – 200..
Goleta Brewing Company hires only two types of labor, managers and brewing assistants (denoted by M and B, respectively). GBC has the following Cobb-Douglas production function F(M,B) = m5 B5 and wants to produce 10 barrels of pale ale this week. How..
What are the major determinants of price elasticity of demand? Use these determinants in judging whether demand for each of the following products
How does the drought impact the market for "high-value forage"? What happens to the equilibrium price and quantity in market?
Describe a situation in which autocorrelation might be present and which of the three methods of detecting autocorrelation you would leverage. Explain your rationale. Describe what remedial measure you would take to address autocorrelation if it were..
Marketing coverage can be intensive, selective, or exclusive. Coverage coincides with convenience, shopping, and specialty products. Review the definitions of coverage and type of product before you start. List two products for each coverage category..
The price elasticity of demand for labor will depend upon all but the:
Why might it be incorrect to interpret the coefficient on private school attendance as the causal effect of attending a private school on graduation?
Anjelkovic-148 is a new fragrance, guaranteed to attract the opposite sex and is the proud new invention of Bombastic Lova Lova Corporation.
With ultra-low interest rates, countries such as Canada are building up large debt to GDP ratios. Finance Minister Chrystia Freeland has said recently large deb
You buy a discount bond for $925. It has a face value of $1000. You hold the bond to maturity. What is the rate of return on the discount bond when it matures?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd