Question 2: Adverse selection 10 marks (1, 3, 3, 3) In the market for used cars there are good cars and bad cars. 0 The good cars comprise a fraction G of all the cars that may bepotentially up for sale, where 0<G<1. 0 Buyers cannot distinguish a good car from a bad car, whereas eachseller knows the type of car she has. 0 The […]
“The United States can make certain toys with greater productive efficiency than can China. Yet we import those toys from China.†Relate your answer to the ideas of Adam Smith and David Ricardo. I need a short essay on this question here. Following is what I know; The United States can make toys more efficiently than can China, but it would also cost more to […]
Imagine if you were the environmental manager responsible for assessing the value of the Neponset River Watershed. The area of the Neponset River Watershed is 300 km2, and 330,000 people live in the Neponset River Watershed. The Neponset River Watershed includes 14 communities, and the river itself meanders some 47 km from Foxborough to UMassBoston. a.) Describe five (3) ecosystem goods and (3) ecosystem services […]
Consider an economy with two individuals, one consumption good, ????, and two time periods. The consumption good is fully perishable in one period. Jacob, ????, is a student with endowment of zero units of ???? in the first period and 1000 units of ???? in the second period. Walter, ????, is a child actor who has an endowment of 1000 units of ???? in the […]
Place the transactions below in their appropriate categories in the GDP and calculate the overall effect on the GDP of the United States. 1. My cost for auto repairs and inspection. ($1,000) 2. The Moon township buys rock salt to maintain the municipality’s roads in the month of February ($2,000) 3. An RMU student goes to study in Ireland for a total cost of ($5,000) […]
Suppose the production function for a firm is given by: q=4L 0.75 0.25 . If the firm currently has 10 units of capital (K) and units of labor (L), then calculate the Marginal Rate of Technical Substitution (MRTSLK).
If this game has a subgame-perfect Nash equilibrium, what is it? (Use strategy pairs (a,b) where a is Player 1’s equilibrium action and b is Player 2’s equilibrium action.) A. (L,L) B. (L,R) C. (R,L) D. (R,R) E. No subgame-perfect Nash equilibrium rThe following applies to questions 9â€â€10 below. Consider the following sequential game (note â€â€Player 1’s payoffs are in the upper right cells}:
1. Suppose that a particular customer has the following demand curve relating the quantity demanded (measured in Kilowatt hours, KWH) to the price of electricity (measured in cents per KWH): KWH = 1600 – 100*P Note that an alternative way to represent the same relationship is in terms of the maximum price that the customer would be willing to pay for each KWH of electricity, […]
I Need help with Summerative assessment 2 BSBFLM306 In a 500 word report discuss the impact that technology has had on the sourcing of information, the accuracy and speed of available information as well as the ability of organisations to store and retrieve data. Comment on the policies, procedures and processes that are needed in an organisation to govern the use of such systems. Report […]
A county is considering using a piece of park land for one of two alternative recreation projects. Project S would require construction costs of $2 million (year 0) and generate net benefits of $1 million per year for 10 years. (Assume the benefits are realized at the ends of years 1 through 10). Project L would require construction costs of $4 million and generate net […]
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