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Markets tend to produce:
the right amount of a good exhibiting external costs.
the right amount of a good exhibiting external benefits.
too little of a good exhibiting external costs.
too little of a good exhibiting external benefits.
Business Economics, Economics
Describe five changes in the vaiables that will cause demand for a product to increase, shifting the demand curve to the right?
What would be the substitution effect and the income effect of a wage increase?
Income effects depend on the income elasticity of demand for each good that you buy. If one of the goods you buy has a negative income elasticity, that is, it is an inferior good, what must be true of the income elastici ...
The local police department must write an average of 5 traffic tickets each day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with a mean of ...
Discuss three ranges of the aggregate supply curve. Explain changes in the AD-AS macroeconomic equilibrium due to the aggregate demand shifts and due to aggregate supply shifts. Apply the AD-AS model to the two types of ...
1. Suppose that a Big Mac costs $5.79 in the US, and CHF 6.5 in Switzerland. You are told that the exchange rate between $ and CHF is CHF=$0.5 From what you know about PPP theory and Law of One Price, the swiss franc is. ...
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 ...
suppose the lifetime of a particular appliance follows an exponential distribution with a mean of 10 years. what is the probability that the appliance will fail in more than 5 years?
The following is historical data on the U.S. dollar - Canadian dollar exchange rate: date U.S./Canadian Canadian/U.S. 1/20/2016 0.68 1.46 9/6/2018 0.76 1.32 Calculate the percentage change in the exchange rate over this ...
The equation used to predict how long a cold will last is y=-1.8 + 0.09x1 + 3.2x2 - 1.9x3, where x1 is person's temperature on the first day, x2 is number of people seen each day, and x3 is the amount of sleep the person ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
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