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Some economists argue that it is possible to raise the standard of living by reducing population growth. As an economist interested in incentives rather than coercion, what kind of policy would you recommend to slow population growth?
Mathew's utility function implies that the marginal utility of apples is 0.5vX/Y and the marginal utility of hotdogs is 0.5vY/X . How many apples and hotdogs will Mathew buy?
Managers are very interested in how a consumer makes a choice among alternatives. In this exercise, we ask you to consider the amount of money you spend purchasing gasoline to operate your automobile for a month and any alternatives available to y..
Since demand elasticity is greater than 1 (absolute value) revenues will be increased, and since price is above marginal costs profits will increase.
The government is considering undertaking one of the four projects A1, A2, A3, A4. These projects are mutually exclusive, and the estimated present values of their costs and of their benefits are shown in millions of dollars as follows.
(1) they cannot be purchased in regular grocery or hardware stores and (2) the presence of salespeople creates another "layer" that simply adds on the price. Was the government's argument correct, economically speaking Why or why not
Suppose that you agree with the 16-percent rate of return proposed by the company. What factors need to be considered when setting rates designed to achieve this factor?
Suppose the wage rates of workers are based on the expected price level. If there is an unexpected increase in AD, it will cause the actual price level to increase. Then workers should raise their expected price level and negotiate a higher wage r..
How would a downward change in the money supply affect you personally How would it affect your career What impact would rational expectations have on your decisions in this situation
Refer to the above data. If the product price is $55 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.
1. Describe both quotas and tariffs. How do they impact domestic prices and deadweight loss How does an import quota differ from an equivalent tariff What is best for a nation as a whole: a tariff, a quota, or free trade
Include a brief explanation of each choice and indicate whether you were very sure of your choice or whether you thought the classification depends on how the market is defined. Write a classifying each of the following industries into the appropriat..
a statewide sample survey is to be made. first, the state is subdivided into countries. Seven countries are selected at random and further sampling is concentrated on these seven countries.
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