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Question: What are the private costs and benefits associated with smoking cigarettes? What are the external costs? If smokers paid the social cost of cigarettes, what would happen to demand? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.
Suppose you can buy a new Toyota Corolla for $20,000 and sell it for $12,000 after six years. Alternatively, you can lease the car for $300 per month for three years and return it at the end of the three years. For simpli- fication, assume that le..
What are the advantages of the Herfindahl index over concentration ratios in measuring degrees of concentration in an industry? (b) What is the disadvantage of both?
Write the problem of the consumer who is choosing optimal effort a to maximize the expected utility and write the first order condition for optimal choice of effort a.
When the United States had price controls on oil and gasoline, some parts of the United States had a lot of heating oil, while other states had long lines.
elasticity-a the price of good x goes up by 2.75 the quantity demanded of good y goes from 10500 units to 25000. what
A firm in a perfectly competitive market invents a method of production that lowers marginal costs. What happens to output What happens to the price it charges A. The firm has an employee who threatens to tell all other firms in the industry about..
On average college graduates earn significantly more income than those with less education and the disparity tends to widen into middle age. marginal external cost equals marginal private cost minus marginal social cost.
From 1970 to 2000, the supply of college graduates to the labor market increased dramatically, while the supply of high school (no college) graduates shrank. At the same time, the average real wage of high school graduates fell.
While greater access to imports may be beneficial from a microeconomic standpoint (people have greater range of goods to choose from, and available at a lower price) the macroeconomic view of things may be a little different.
Cornell has two options for upgrading their athletic facilities. The off-campus option costs only $20 million, but it will require frequent bus service.
Using the information above to answer the following questions: Find the set of equations that describe the market (or aggregate) demand for passion fruit in Banania. Find the set of equations that describes the market (or aggregate) supply for passio..
Identify which control activity is violated in each of the following situations, and explain how the situation creates an opportunity for fraud.
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