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You have an insane roommate who plays “Let it Go” (from Frozen) on repeat on her phone all the time and thinks that everyone should put on pink tutus and sing very loudly and dance to it. You share your apartment with him and with three others. Three of you suffer $25 of brain damage every night from the Frozen experience; one person suffers only $5; and the insane one gets $90 of pleasure.
1. Should he stop? What is the efficient outcome of the Frozen dispute?
2. Would it matter who owns the stereo and holds the lease? If you hold the lease, could he get you to let him sing? If he holds the lease, could you get him to stop? Would it matter if all of you had taken Economics and wanted to free-ride?
3. How would your answer to these questions change if all the anti-Frozen roommates developed great hatred of the song so they all suffer $40 of damage.
4. Read Robert Larson, “Frackonomics” in Real World Micro, article 6.3. Who benefits and who loses from fracking? Is fracking necessarily bad? Can we sure whether the winners’ gains exceed the losers’ losses? How might the winners from fracking compensate the losers? Do they? Why or why not?
According to Jared Diamond, what are the “roots of inequality” in the division of the world into ‘haves’ and ‘have-nots? What role has “the roots of inequality” played in the division of the world into ‘haves’ and ‘have-nots’ within today’s globaliza..
Give two main reasons that Canadian prices for generic pharmaceuticals are higher than real acquisition prices and explain why these factors contribute to higher generic drug prices and any solution for this problem?
Mining is proposed for a wilderness area that provides two benefits: recreation (due to backpacking opportunities) and biodiversity (there are endangered wildlife and plants). Which discount rate makes the best case for mining? What is the present va..
Use the Internet to learn more about what companies are doing to enhance employee creativity. Be specific when you make an entry in your search engine to avoid being deluged with a choice of Web sites far removed from your topic. In your search engin..
A decade ago Mirk Labs incurred $60 million in research and development coss for Zatab. Current production costs for Zatab are constant and equal to %5 per unit what whole sale price will Mirk Labs set.
3. assume a monopolist who sells a product with a total cost function c -100q 15q2. the market demand is given by the
What are some econometrics texts that you would recommend for me? I learned some intro econometrics in a course which taught from Studenmund but was extremely bored.
If a price in a competitive market is "too high to clear the market," what does this normally mean. Assume upward-sloping supply curves.
The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launch services to commercial firms.
Find the optimal consumption bundle. Suppose that the consumer experiences an increase in real wage. Find the new optimal consumption bundle and determine the income and substitution eects. Clearly indicate both eects on consumption and leisure chose..
(a) Should the company make its own spare parts or buy them from an outside vendor (b) Should the company continue to service the equipment it sells or ask the customers to use independent repair companies (c) Should a company expand its business to ..
Economic theory offers ______ about the full range of possible events and responses, which can prevent _______ about how households will respond to changes in prices or incomes.
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