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Question: Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table shows the total costs of cleaning up the sewage to different levels, together with the total benefits of doing so. (Benefits include environmental, recreational, health, and industrial benefits.)
a. Using the information in Table, calculate the marginal costs and marginal benefits of reducing sewage emissions for this city. See Cost and Industry Structure if you need a refresher on how to calculate marginal costs.
b. What is the optimal level of sewage for this city?
c. Why not just pass a law that zero sewage can be emitted? After all, the total benefits of zero emissions exceed the total costs.
Draw a "fuzzy" or "flexible" production function showing how accumulating more human capital (the variable on the horizontal axis) can result in different.
In the readings for this module, Barbara Ehrenreich goes to Minnesota and ends up working for Wal-Mart. Also, you will be viewing two videos on Wal-Mart, both of which are harshly critical of the company. As you do the reading and view the videos, no..
Define the cross-price elasticity of demand? Define elastic, inelastic, and unitary elasticity means. How are these related to total revenue?
1.market structures can be categorized according to two dimensions how many producers there are and the extent to which
What will be the price and quantity sold with the price floor? How big will be the excess supply of brussels sprouts produced with the price floor?
Read assignment instructions for Paper. Develop a formal outline for your Paper writing in full sentences (12 point font, Times New Roman font, double spaced).
Opportunity Cost of Macroeconomic and Microeconomic EventsThe market system cannot supply each person with an unlimited amount of resources, so choices must be made. Given the following events,
Carefully write out the firms profit-maximization first-order conditions. Find the firm's optimal level of output for any date t: (You can express this in terms of qt-1, wt and zt)
Consider the choices of two groups of women ages 30 to 50. All the women in one group have a college education. All the women in the other group have less than a high school education
Explain what economic theory predicts will happen. Draw a supply and demand graph illustrating the effect of a minimum wage.
You and your little sister can each choose between two strategies. Each of you will make your choice of strategy at the same time (i.e. neither of you can wait for the other to move first). Find the dominant strategy for player
separate the bond market into municipal bonds and corporate bonds if the president lowers the federal income tax rate
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