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Assignment:
1. If 3 voters have a reservation price for each and they would like to share the cost among themselves equally, will the majority voting rule give the efficient amount of public good? Why/Why not?
2. If there is no cost for education (signaling), then which of the three equilibrium we discussed in class (separating equilibrium pooling equilibrium with no education and pooling equilibrium with education ), is going to be experienced in this situation. Explain.
3. State the second theorem of welfare economics
4. If the agent has two type of actions ( x and y ) and principal have no idea which type the agent is, and principal wants him to induce him to induce x effort whereas the cost function for x is c(x) and cost function for y is c(y). To offer him full insurance contract what must be true for the principal? Is offering the full insurance contract efficient for the principal in this case?
What are the sources of long-run growth as envisioned by the author in his early contributions? If so which potential technological revolution could make?
In researching a voting system, you discover that it obeys three of the four criteria of an ideal voting system: transitivity, irrelevance of independent.
Explain why the result would be cleaner air and an increase in economic efficiency.
The demand distribution for the next month is 35% for 1 kiosk, 25% for 2 kiosks, 25% for 3 kiosks, and 15% for 4 kiosks. Determine the optimal level of kiosks for Joel to commit to for the next month
What would be your levels of expectancy? Which outcomes would have high valence for you on this job? What behaviors would your manager positively reinforce?
Compare the Diamond model with two other leadership models and explain how the Diamond model fits the GDD leader the best.
graph jays budget constraint when her income is 50 and the price of housing and food is 2 and 10 respectively.what
Compute Florence's MRS of all other goods for travel. (In other words, compute her MRS with travel on the horizontal axis.
Consider a linear demand curve, Q = 120 - 4P. What is the price elasticity of demand at P = 20? At what price is the demand unit-elastic (i.e. elasticity = -1)?
What is the value of the price elasticity of demand if the price of the good changes from Po=$4 to Pi=$5? NOTE: Express your answer in NEGATIVE terms. What is the value of the price elasticity of supply if the price of the good changes from Po=$4to P..
Draw two graphs, side-by-side. Plot the firm's learning curve over these three years on one graph. On the other graph, plot the firm's instantaneous.
Calculate the total revenue and the marginal revenue per download and The government wants to regulate the monopolist by imposing a price ceiling.
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