1.33E3 The marginal damage function for the region is given as {where ET = E1 + E2 +E3} a) Find the aggregate MAC for the region. B) Find the socially optimal level of Emissions for the region c) Suppose that the government imposes a Uniform Standard on the three firms that achieves the socially optimal level. What will be each firm”s MAC and TAC? D) […]
“My preferences are represented by the utility function u = ln(x1) + ln(x2). One unit of good 1 and one unit of good 2 are perfect substitutes for me.†Is this statement true, or is it false? Explain why. When my income doubles, my demand for water does not change. Draw my income offer curve when water is good 1, and “other goods†is good […]
Martha realizes that the microwave she bought is faulty after a month of purchase. The manufacturer of the microwave asks Martha to pay the repair expenses as the fault was with a part that was out of warranty. Martha was unaware of this warranty condition. What should Martha do to resolve her grievance? pay for the repair contact the Food and Drug Administration approach the […]
List some advantages and disadvantages of specialization. Does it always make sense to specialize as much as possible? Why or why not? How can managers reduce costs of specialized assignment? The text for this course is Managerial Economics and Organizational Architecture, 5th edition by Brickley, Smith, and Zimmerman Advantages of specializationEmployees become more skilled at a meticulous part of the production procedure. As aresult, they […]
Legalization of drugs such as marijuana, cocaine, and heroin often provokes intense disagreement among citizens as well as policymakers. Because legalization would create a market for these drugs, economists can provide helpful commentary based on consumer choice and demand. Could you please let me know what you do think about legalizing drugs, with pros and cons and explained in detail. I am not from the […]
Part 1: 32 questions at 3 points each for a total of 96 points FOR FILL-IN-THE-BLANK questions: If your answer is in decimal form, round to 2 decimal places. For example, if your answer is .412, enter it into the fill-in-the-blank as .41, or if your answer is 1.415, enter it into the fill-in-the-blank as 1.42. If there are no decimals in your answer, you […]
pure pool services provides weekly pool maintenance in BeverlyHills. Dozens of firms provide this service. the service is typically sold as a four-month contract. the market price of a fouth-month contract is $115. Pure has fixed cost of $3500 for the summer. the manger of pure has estimated the following marginal cost function, using data from the last ywo years. MC=125-0.42Q+0.0021Q^2, where MC is measured […]
Naomi’s clothing company produces hooded sweaters. Her fixed cost is the cost of her knitting machines, and her variable cost comes from maintenance for the machines and her workers. Use the table to answer the following questions. Number of Machines Fixed Cost Total Variable Cost 30 sweaters 60 sweaters 90 sweaters 1 $2,000 $2,200 $3,800 $10,800 2 $3,000 $1,800 $2,400 $10,500 3 $4,000 $1,400 $1,700 […]
I need someone who can help me to solve a few Econometrics questions. For more details about this please see attached file. i hope to hear from someone as soon as possible. Budget- 25-30$USD Deadline- 1 Day Thanks
Lois and Clark have the same preferences over leisure and consumption, two normal goods. They also have the same daily nonlabor income $20 and hourly wage rate $10. But they differ in two ways. Lois lives next to her office, so it takes her no time to commute to work. Clark, however, loses an hour every day commuting if he works at all. If Clark […]
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