Category: business economics

Order the answer to: According to a report from the U.S. Census Bureau, the

business economics

Order the answer to: According to a report from the U.S. Census Bureau, the

Posted By George smith

Question
According to a report from the U.S. Census Bureau, “the average [lifetime] earnings of a full-time, year round worker with a high school education are about $1.2 million compared with $2.1 million for a college graduate.” This indicates that there is a

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Order the answer to: Voluntary environmental programs were extremely popular in the United States,

business economics

Order the answer to: Voluntary environmental programs were extremely popular in the United States,

Posted By George smith

Question
Voluntary environmental programs were extremely popular in the United States, Europe, and Japan in the 1990s. Part of their popularity stems from the fact that these programs do not require legislative authority, which is often hard to obtain.
The 33/50 program

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Order the answer to: Many dairy farmers in California are adopting a new technology

business economics

Order the answer to: Many dairy farmers in California are adopting a new technology

Posted By George smith

Question
Many dairy farmers in California are adopting a new technology that allows them to produce their own electricity from methane gas captured from animal wastes. (One cow can produce up to 2 kilowatts a day.) This practice reduces the amount of methane

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Order the answer to: The loud music coming from the sorority next to your

business economics

Order the answer to: The loud music coming from the sorority next to your

Posted By George smith

Question
a. Draw the marginal social benefit curve and the marginal social cost curve. Use your diagram to determine the socially optimal volume of music.
b. Only the members of the sorority benefit from the music, and they bear none of the

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Order the answer to: Which of the following are characterized by network externalities? Which

business economics

Order the answer to: Which of the following are characterized by network externalities? Which

Posted By George smith

Question
Which of the following are characterized by network externalities? Which are not? Explain.
a. The choice between installing 110-volt electrical current in structures rather than 220-volt
b. The choice between purchasing a Toyota versus a Ford
c. The choice

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Order the answer to: What type of externality (positive or negative) is present in

business economics

Order the answer to: What type of externality (positive or negative) is present in

Posted By George smith

Question
What type of externality (positive or negative) is present in each of the following examples? Is the marginal social benefit of the activity greater than or equal to the marginal benefit to the individual? Is the marginal social cost of the activity

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Order the answer to: The market for clothes has the structure of monopolistic competition.

business economics

Order the answer to: The market for clothes has the structure of monopolistic competition.

Posted By George smith

Question
The market for clothes has the structure of monopolistic competition. What impact will fewer firms in this industry have on you as a consumer? Address the following issues.
a. Variety of clothes
b. Differences in quality of service
c.

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Order the answer to: In both the short run and in the long run,

business economics

Order the answer to: In both the short run and in the long run,

Posted By George smith

Question
“In both the short run and in the long run, the typical firm in monopolistic competition and a monopolist each make a profit.” Do you agree with this statement? Explain your reasoning.

Subject
business economics

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Order the answer to: In the long run, there is no difference between monopolistic

business economics

Order the answer to: In the long run, there is no difference between monopolistic

Posted By George smith

Question
“In the long run, there is no difference between monopolistic competition and perfect competition.” Discuss whether this statement is true, false, or ambiguous with respect to the following criteria.
a. The price charged to consumers
b. The average total cost

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Order the answer to: Magnificent Blooms is a florist in a monopolistically competitive industry.

business economics

Order the answer to: Magnificent Blooms is a florist in a monopolistically competitive industry.

Posted By George smith

Question
Magnificent Blooms is a florist in a monopolistically competitive industry. It is a successful operation, producing the quantity that minimizes its average total cost and making a profit. The owner also says that at its current level of output, its marginal cost

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