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Consider a community of 3 households. The marginal benefit/inverse demand for school quality (denoted as S) for each household is given blew: MB1=250-S,MB2=150-S,MB3=50-S The marginal cost of increasing school quality is 300 per unit. Whatever school quality is chosen for the school will apply to all pupils. The community government finances the school with property taxes. The share of costs per unit to a household will be equal to the proportion of community property value the household owns. Property values are distributed: Value 1 = 150,000, Value 2 = 100,000, Value 3 = 50,000. The community government will provide the largest quantity that a majority of the households will support. What is the majority voting choice?
What is the relationship between money supply, interest rate, and exchange rate?
In the aggregate expenditures model, it is assumed that:
Elucidate the rationale and the implications of the new guidelines used by the Department of Justice and the Federal Trade Commission for evaluating proposed mergers.
In the early 2000s, analysts feared that low academic achievement in math in the United States may reduce U.S. economic growth by as much as half a percentage point a year. "That drag will become increasingly apparent…as other countries dismantle reg..
An industry consists of six firms with annual sales of $300, $500, $400, $700, $600, and $600. What is the HHI? According to the general rule of thumb, the HHI of this industry implies that the market structure is ________ (competitive, noncompetitiv..
The affordable care act made important changes to the law of government programs and to the law of fraud and abuse. Please explain what changes were made and what programs this involved specifically.
The theory of purchasing power parity say-The real exchange rate is always greater than one-The real exchange rate is always less than one
If Blotto engages in standard pricing, what is the profit-maximizing price and quantity?
When the Economy is at the point of Full Employment, is the Unemployment Rate zero percent.
Suppose that doctors’ visits cost $20, and the typical consumer has an income of $100. Consumers spend all of their incomes on doctors’ visits and a “composite good” that costs $1 per unit. Draw a graph that illustrates the consumer’s budget constrai..
A large airline wants to estimate its average number of unoccupied seats per flight over the past year. To accomplish this, the records of 30 flights
Home has 600 units of labor available. It can produce two goods, apples (QA) and bananas (QB). The unit labor requirement in apple production is 3, while it is 2 in banana production. Graph Home’s production possibilities frontier with the production..
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