Get college assignment help at uniessay writers 1.Suppose that you would always turn down a 50-50 gamble between losing 10 and gaining 20. How much must your marginal utility decrease over an interval of 30? 2. a)Explain in words and with a picture why in a competitive insurance market, low risk consumers can get more insurance as high risk consumers become more risk averse.b) Name at least one reason why an insurance company might set a deductible. c)Can forcing everybody to buy full insurance at market rates ever hurt everybody? d) When can forcing everybody to buy full insurance at market rates help everybody? 3. a)Suppose college costs 1 to high quality workers, and high quality workers can produce 5. Suppose college costs 5 to low quality workers and low quality workers can produce 3. Can a competitive firm use salaries to tell who is who? b) Suppose college costs 5 to high quality workers, and high quality workers can produce 10. Suppose college costs 7 to low quality workers, and low quality workers can produce 8. Can a competitive firm use salaries to tell who is who?
economic growth is best defined as an increase in: a. either real gdp or real gdp per capita b. nominal gdp c. total consumption expendentures d. wealth in the economy
Suppose that the price of peanuts falls from $3 to $2 per bushel and that, as a result, the total revenue received by peanut farmers changes from $16 to $14 billion. Thus: A. the demand for peanuts is elastic. B. no inference can be made as to the elasticity of demand for peanuts. C. the demand for peanuts is inelastic. D. the demand curve for peanuts has shifted to the right.
Suppose you are part of a research team evaluating a proposal to clean up a hazardous waste site. You are in charge of assessing the incremental benefits. Which method would you choose to derive the estimation? Explain briefly
Can you help me with problem 2 part 3 and 9, and problem 3 part b? Thanks
6. “The added-worker effect can be explained in terms of the income effect, while the discouraged-worker effect is based on the substitution effect.” Do you agree?
Irate college students march on washington and demand a reduction in the price of frisbees. An even more concerned congress votes to repeal the price floor and impose a price ceiling $1 below the former price floor. What is the new market price? How many frisbees are sold?
Online production function is lnQ = 7.73 0.75lnK lnL a) Convert the production function into its normal form. (04 marks) b) What is the MRTS, if price of labour is $120 and the price of capital is $200? (06 marks
1. Shane currently receives welfare in the amount of $80 per day if he doesn’t work. His utility function is U(C,L) = C1/2L. Wages=$9 and he has 18 hours to allocate between work and leisure. 1. Find his utility maximizing H and L. Assume he is not eligible for welfare. 2. Now assume he is eligible for welfare. Does he take welfare or work? 3. Assume he takes welfare and does not work. What is his reservation wage? He will not loose his welfare if he works. 4. Suppose he is working and receives no welfare, what is the minimum overtime pay needed for him to work 1 hour of overtime?
What are the main disadvantages of using shells as money instead of coins?..
Get college assignment help at uniessay writers The daily demand for hotel rooms on Manhattan Island in New York is given by the question QD = 250,000 – 375P. The daily supply of hotel rooms on Manhattan Island is given by the equation QS = 15,000 212.5P. (a) Diagram these demand and supply curves in price and quantity space. (b) What is the equilibrium price and quantity of hotel rooms on Manhattan Island?
Speeding Citations Vehicle Tow BARNEY 10 20 Goober 15 25 a) does barney have an absolute advantage in any activity? b) What is Barneys relative opportinuty cost of writing one additional speeding citation? c) What is Goobers relative opportinuty cost of writing one additional speeding citation? d) In which activity does Barney have a comparative advantage and why? e) In which activity does Goober have a comparative advantage and why? f) From a microecenomics perspective expalin why a comparative is the relevant measure
The daily demand for newspapers on Strayer Island is given by the equation QD = 250,000 – 375P. The daily supply of newspapers on Strayer Island is given by the equation QS = 15,000 212.5P. Graph these demand and supply curves. Use the Graph to determine the equilibrium price and quantity of newspapers in Strayer Island? ** Record the answers from the graph in the ANSWER BOX . Please attach the graph in a separate file labeled graph for HW 2”. Thanks.
2. Suppose Beth has a utility function U(x,y,) = x1/3y2/3. a. Find the income elasticity of demand for x. Find the income elasticity of demand for y. b. What is the elasticity of demand for x with respect to the price of x? What is the elasticity of demand for x with respect to the price of y? c. Find the compensated elasticity of demand for x with respect to px.
Need help with these two Economics Charts.
Identify and define three components of a country’s balance of payments?
Identify and explain three trade restrictions. Which method of restricting trade is the most efficient?
Greg owns a cattle ranch in Alberta.he pays $32,000 per year in insurance, $408,000 in wages, $23,000 in supplies, and he forgoes $32,000 per year he could make as a bank teller. His total revenue last year equaled $460,000. That means his economic ___ equaled____.
QD= 135-8P how much would be demanded at P=10
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market’s scope. These are called externalities. As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, What two policies could you use to reduce the total amount of emissions?
Discussion – The Fed and the Economy For your initial post, comment on the following questions. * What is the current macroeconomic situation in the United States? * What should the Fed do about it? * What monetary policy tools should the Fed use to achieve the results you recommend?
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