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1. If, in exercise 8, the MC and MSC columns were reversed, you would have an example of what? Would too much or too little of the good be produced?
2. Compare a ban on trans fats to a ban on cocaine. What do the markets look like? How are they different? Which ban would be easier to enforce? Explain.
The marginal cost of the public good is $180. What is the economically efficient level of production of the good? Illustrate your answer on a clearly labeled graph.
What is the elasticity of demand for cigarettes? Is overall cigarette demand elastic or inelastic?
What is the Progress/Oportunidades Program, and what does it try to accomplish?
Country A is a very large and advanced economy, whereas country B is newly industrialized country, which tourists appreciate a lot for its warm climate and great Mexican food.The government of country B wants to raise revenue
An inductor, L = 8.8 mH, and a capacitor, C = 57 μF, are connected in parallel with each other, and in series with a resistor, R = 175 Ω, and another inductor, L = 2.9 mH. Sketch the circuit and then determine the magnitude of the current, I , thro..
A natural spring runs under land owned by ten people. Each person has the right to sink a well and can take water from the spring at a constant marginal cost of $5 a gallon. Table 2 sets out the marginal external cost and the marginal social benef..
Write a program to compute the autarky solution, and use it to reproduce Hopenhayn and Nicolini's calibration of r, as described in text.
anderson county has 35 older-model school buses that will be salvaged for $5,000 each. these buses cost $144,000 per year for fuel and maintenance. now the county will purchase 35 new school buses for $ 40,000 each.
Will the tax increase halve the quantity of sunscreen and sunglasses bought?
c) Compute the elasticity of supply with respect to technology. d) Compute the elasticity of supply with respect to wage rate. e) Based on the elasticity of supply with respect to wages, what would happen to supply if the average wage increased fro..
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
You went on a trip to Tombstone, Arizona and stopped into a gift shop, where you began talking with the owner. You find out that she needs to apply for a small business loan and needs to calculate the net cash flow for the year 2015.
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