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Explain why a perfectly competitive market is allocatively efficient but a monopoly market is allocatively inefficient. How might an excise tax (subsidy) be used to eliminate the deadweight loss associated with monopoly?
Business Economics, Economics
In the course of producing its output, this firm causes pollution. The government passes a law that requires the firm to stop polluting, and the firm discovers that it can prevent the pollution by hiring 0.2 workers for ...
To investigate this, a random sample of 18 bean leaflets was taken. The freezing temperatures were: -1.6 -0.9 -1.3 -2.7 -1.9 -2.2 -3.1 -2.3 -2.1 -0.2 -2.7 -2.9 -2.3 -3.8 -3.6 -4.3 -2.0 -3.3. Make a histogram of the data ...
A financial consultant is interested in the differences in capital structure within different firm sizes in a certain industry. The consultant surveys a group of firms with assets of different amounts and divides the fir ...
Why would the Australian government debt be consider not too high?
How does health insurance coverage affect the incentive to reduce medical expenses? For the insured person? For the provider of services? What happens to the incentive to hold down medical expenses once the initial insur ...
Answer in true or False : 1) In the circular flow model, firms sell the services of factors of production to households 2) If GDP included the value of leisure time, the value of US GDP would most likely increase. 3) GDP ...
A Wall Street Journal article noted that a study by U.S. Congressional Budget Office "estimated raising the minimum wage to $10.10 per hour reduced U.S employment by 500,000 but lift 900,000 Americans out of poverty ". a ...
Many manufacturing problems involve the accurate matching of machine parts, such as shafts, that fit into a valve hole. A particular design requires a shaft with a diameter of 22.000 mm, but shafts with diameters betwe ...
Not sure where I'm going wrong on this one. Any help is appreciated. The following information relates to RAM Corporation: Accounts receivable $160,000 Total credit sales $2,500 ...
Three mutually exclusive new designs for an aircraft engine are under consideration. The engine has a ten-year life. The first engine incurs a cost of $1.2 million for a net saving of $300,000 per annum as compared to an ...
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