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Suppose that we can identify the following income classes: young high-income, low income, middle income and older high-income. In your opinion, what will be the relative slopes of the bid rent curves and why?
Discuss which economic relationships you have studied up until now (not just in this class, but in all your economics classes) could be estimated using the simple linear regression model as well as the information you would need to estimate such a re..
Discuss the structure of non-point-source (NPS) pollution and economic policies that can be more or less effective in reducing it. In particular discuss the application of the rule that “marginal abatement cost should equal marginal benefits from aba..
Consider the model of Gaynor & Town (2012) in which hospitals choose quality with a fixed price. Recall that the model begins with a demand specification, qj = sj (zj , z\j ) × D(¯p, zj , z\j ), where the hospital’s market share sj is a function of i..
q1. peter and sally enter a bus and two adjacent cramped seats are free. they must decide whether to sit or stand.
Histories of the following MNEs/industries, from their beginings to the present day, such Fedex, Amazon, NYSE (New York Stock Exchange), Pharamaceutical Industry, General Electiric, Lenovo. Compare and contrast the history of at least two of these..
A newspaper recently lowered its price from $0.50 to $0.30. As it did, the number of newspapers it sold increased from 240,000 to 280,000 (4 points) a) What was the price elasticity of demand for this newspaper (Arc/ mid-point formula)? What was the ..
John Maynard Keynes who is considered to be the father of Macroeconomics by many once said "In the long-run we are all dead” to emphasize why decision-makers should not worry about long-run effects of policies. As we have also learned in this module ..
Which of the following terms describes a phenomenon whereby individuals ignore their own information about the best course of action and instead simply do what everyone else is doing? What type of performance measurement based process was used to det..
The demand for economics textbooks is very inelastic, but the supply is somewhat elastic. What does this imply about the incidence of an excise tax? Illustrate with a diagram.
The following equation relates housing price (price) to the distance from a recently built garbage incinerator (dis). Interpret the coefficient on log(dist). Is the sign of this estimate what you expect it to be?
Use your knowledge of the problems associated with asymmetric information to elucidate why insurance companies often include deductibles as part of their policies.
Some estimates for the cement industry suggest the following relationship between capacity and average cost: Capacity (thousands of tons: 250 500 750 1000 1,250 1,500 1,750 2,000 Average Cost: 28.78 25.73 23.63 21.63 21.00 20.75 20.95 21.50. Assume t..
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