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What are the key differences between private goods versus public goods? Provide your own exs of each good.
Microeconomics, Economics
Question: The Capital Asset Pricing Model postulates a relationship between the returns to a particular stock and the return on the market. Go to the Internet and obtain monthly stock price data for Microsoft, GE, IBM, P ...
Question: Consider an economy with the representative consumer, representative firm, and government. Suppose that G = 12. The consumer's preferences over the consumption good and leisure are given by the utility function ...
Question: In our model of educational attainment, the individual chooses the level of schooling that maximizes the net present value of their future earnings. a. What are the two factors that contribute to the level of e ...
Question - Suppose that emergency room services in a city are provided by three hospitals. Two of the hospitals each have a market share of 40% and the third hospital has a market share of 20%. Compute the pre-merger and ...
Question: Regarding utility maximization, what is meant by the application of the "Equimarginal Rule" and it's relevance to the marginal principle ? Discuss the concepts of utility (total & marginal), budget constraints ...
Quesiton: A third price auction is similar to a Vickrey auction except that the winner (the bidder with the highest bid) pays the third higest bid. Is it a dominant strategy in this auction to bid one's valuation? If yes ...
Question: A risk averse person with a von-Neumann-Morgenstern utility index of: U = ln(Y) has a 20% chance that a disaster will reduce her regular income of $100,000 to zero. She can buy insurance at a rate of $0.40 per ...
Question: Investors sometimes fear that a high-risk investment is especially likely to have low returns. Is this fear true? Does a high risk mean the return must be low? The response must be typed, single spaced, must be ...
Question: Farm laborers in the United States are sometimes paid by piecework, for example, a fixed amount for each basket of fruit that they pick from an orchard. Looking at the shirt assembly example, explain the simila ...
Question: a) Explain how an amplification mechanism may have been created from mortgage losses to the effect on the economy. What three factors may have contributed? Explain each. b) Explain the process of a financial cr ...
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