All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
principles of economics

Questions and Answers of Principles Of Economics

Water is a natural resource that is plentiful in Canada but not plentiful in Arizona and southern California.a. If Canadians start to export bulk water to Arizona and southern California, what do you
New technology has allowed oil to be pumped from much deeper offshore oil fields than before.For example, 28 deep ocean rigs operate in the deep waters of the Gulf of Mexico.a. What effect do you
a. If companies are responding to the higher prices for natural gas by drilling right now wherever they can, what does that imply about their assumptions about the future price of natural gas in
a. Is natural gas a renewable or nonrenewable resource? Explain.b. Explain why the demand for land in Pennsylvania has increased.
If the market for retail labor is competitive, explain the potential effect of a union on the wage rates. Draw a graph to illustrate your answer.
Based upon evidence presented in this article, does Wal-Mart function as a monopsony in labor markets, or is the market for retail labor more competitive? Explain.
a. Explain how a union of Wal-Mart’s employees would attempt to counteract Wal-Mart’s wage offers (a bilateral monopoly).b. Explain the response by the Canadian Wal-Mart to the unionization of
a. Assuming that Wal-Mart has market power in a labor market, explain how the firm could use that market power in setting wages.b. Draw a graph to illustrate how Wal-Mart might use labor market power
You May be Paid More (or Less) than You Think It’s hard to put a price on happiness, but if you’ve ever had to choose between a job you like and a better-paying one that you like less, you’d
Detroit Oil Refinery Expansion Approved Marathon Oil Saturday started work on a $1.9 billion expansion of its gasoline refinery in Detroit. Marathon will employ 800 construction workers and add 135
Kaiser’s installs a new soda fountain that increases the productivity of workers by 50 percent.If the price of a smoothie remains at $4 and the wage rises to $48 a day, how many workers does
If the price rises to $5 a smoothie, how many workers will Kaiser’s hire?
How many workers will Kaiser’s hire to maximize its profit and how many smoothies a day will Kaiser’s produce?
Calculate the marginal product of hiring the fourth worker and the fourth worker’s value of marginal product.
Venus is opening a tennis school. She plans to hire a marketing graduate to promote the school and an administrator at $20 an hour. Venus is also considering buying or leasing a new tennis ball
Keshia is opening a new bookkeeping service. She is considering buying or leasing some new laptop computers. The purchase price of a laptop is$1,500 and after three years it is worthless. The annual
Copter Crisis Helicopters are in short supply these days. You could blame a rise in military spending, a jump in disaster relief, even crowded airports pushing executives into private travel. But the
How might farmers meet the growing demand for farm products without having to use a greater quantity of farmland?
a. Is farmland a renewable or nonrenewable resource?b. Explain how the growing demand for farm products will affect the market for land and draw a graph to illustrate your answer.
In the news clip in Problem 8,a. Explain how a fall in house prices influences the market for construction equipment leases.b. Draw a graph to illustrate the effect of a fall in house prices in the
Trump Group Selling Parcel For $1.8 Billion A consortium of Hong Kong investors and Donald J. Trump are selling a stretch of riverfront land and three buildings on the Upper West Side for about $1.8
Classify the following items as a nonrenewable natural resource, a renewable natural resource, or not a natural resource. Explain your answers.a. Trump Towerb. Lake Michiganc. Coal in a West Virginia
How can this union try to change the demand for labor?
Who wins from this union contract? Who loses?
Why are labor unions scarce in New York’s lowincome neighborhoods?
British Construction Activity Falls Construction activity in Britain declined in June at the fastest rate in 11 years. A major home builder was unable to raise more capital—both signs of worsening
At Wanda’s fish store packers’ wages increase to$10 an hour, but the price of fish remains at 50¢a pound.a. What happens to the value of marginal product of labor?b. What happens to Wanda’s
a. How does Wanda’s demand for labor change?b. What happens to the number of students that Wanda employs?
a. How does the students’ marginal product change?b. How does the value of marginal product of labor change?
a. Find Wanda’s demand for labor curve.b. How many students does Wanda employ?
Calculate the value of marginal product of labor and draw the value of marginal product curve.
Calculate the marginal product of the students and draw the marginal product curve.
Tim is opening a new online store. He plans to hire two people to key in the data at $10 an hour. Tim is also considering buying or leasing some new computers. The purchase price of a computer is
Commuting More than Pain at Pump Half of the respondents polled in 10 cities said that traffic congestion increased their stress levels and cut their productivity. IBM has been devising ways for
How can ITQs change the short-term outlook of fishers to a long-term outlook?
a. What are the similarities between the problems faced by the earliest settlers in the West and today’s fishers?b. Can the tragedy of the commons in the oceans be eliminated in the same manner
After you have studied Reading Between the Lines on pp. 406–407 answer the following questions:a. Why is it difficult to decrease carbon emissions in the short run?b. Which holds the greater
Polar Ice Cap Shrinks Further and Thins With the warming of the planet, the polar ice cap is shrinking and the Arctic Sea is expanding.As the ice cap shrinks further, more and more underwater mineral
If the village council sets a quota on the total amount of water such that the spring is used efficiently, what would be the quota and the market value of the water taken per day?
What is the efficient quantity of water taken and the marginal social cost at the efficient quantity?
What is the quantity of water taken and what is the private cost of the water taken?
If hikers and other visitors were required to pay a fee to use the Appalachian Trail,a. Would the use of this common resource be more efficient?b. Would it be even more efficient if the most popular
EPA Pushes to have Companies Track Greenhouse Gases Congress plans to make large polluters, such as oil refiners and automobile manufacturers, and makers of cement, aluminum, glass and paper, start
Suppose that the government levies a pollution tax, such that the utility produces the efficient quantity. What is the price of electricity? What is the tax levied, and the government’s tax revenue
With no government action to control pollution, what is the marginal social cost of the electricity generated and the deadweight loss created?
With no government action to control pollution, what is the quantity of electricity produced, the price of electricity, and the marginal external cost of the pollution generated?
If no one owns the lake and the government levies a pollution tax, what is the tax that achieves the efficient outcome?
If the pesticide factories own the lake, how much pesticide is produced?
If the residents of the town own the lake, what is the quantity of pesticide produced and how much do residents of the town charge the factories to dump waste?
What is the quantity of pesticide produced if no one owns the lake and what is the efficient quantity of pesticide?
Betty and Anna work at the same office in Philadelphia. They both must attend a meeting in Pittsburgh, so they decide to drive to the meeting together. Betty is a cigarette smoker and her marginal
If the government issues ITQs to land owners that limit the total amount of water taken to the efficient quantity, what is the market price of an ITQ?
If the government sets a quota on the total amount of water such that the spring is used efficiently, what would that quota be?
Draw a graph to illustrate the market equilibrium.On your graph, show the efficient quantity of water taken.
Whaling “Hurts Tourist Industry”Leah Garces, the director of programs at the World Society for the Protection of Animals, reported that whale watching is more economically significant and
If the government issues ITQs to individual fishers that limit the total catch to the efficient quantity, what is the market price of an ITQ?
a. With a quota of 40 tons a month for the tuna fishing industry, what is the equilibrium price of tuna and the quantity of tuna that fishers catch?b. Is the equilibrium an overfishing equilibrium?
a. What is the quantity of tuna that fishers catch and the price of tuna? Is the tuna stock being used efficiently? Explain why or why not.b. What would be the price of tuna, if the stock of tuna is
Pollution Rules Squeeze Strawberry Crop Last year, Ventura County farmers harvested nearly 12,000 acres of strawberries valued at more than $323 million. To comply with the federal Clean Air Act,
Explain how government intervention might improve the efficiency of cell-phone use.
Draw a graph to illustrate how a deadweight loss arises from the use of cell phones.
a. Explain the external costs that arise from using a cell phone while driving.b. Explain why the market for cell-phone service creates a deadweight loss.
In 2010, the Governor of California supported a move to make California the first state in the nation to ban plastic shopping bags. He said that the bill “will be a great victory for our
a. With 70 percent of all plastic bags coming from grocery, drug and convenience stores, in July 2008, Seattle imposed a tax of 20¢ per bag from these outlets. Explain the effects of Seattle’s
a. Describe the externality that arises from plastic bags.b. Draw a graph to illustrate how plastic bags create deadweight loss.
Suppose that no one owns the river and that the government issues two marketable pollution permits:one to the cotton grower and one to the city. Each permit allows the same amount of pollution of the
Compare the outcomes when property rights exist and when the pollution tax achieves the efficient amount of waste.
Suppose that no one owns the river and that the city introduces a pollution tax. What is the tax per ton of cotton produced that achieves an efficient outcome?
a. Suppose that the town owns the river and makes the cotton grower pay the cost of pollution.How much cotton is produced and what does the farmer pay the town per ton of cotton produced?b. Suppose
If no one owns the river and the town takes no action to control the waste, what is the quantity of cotton, and the deadweight loss created?
Who’s Hiding under Our Umbrella?Students of the Cold War learn that, to deter possible Soviet aggression, the United States placed a “strategic umbrella” over NATO Europe and Japan, with the
After you have studied Reading Between the Lines on pp. 386–387 answer the following questions:a. What are the two major problems confronting the provision of health-care services in the United
My Child, My Choice Fully vaccinating all U.S. children born in a given year saves 33,000 lives, prevents 14 million infections and saves $10 billion in medical costs.Part of the reason is that
If the government offers vouchers to those who enroll at a college and no subsidy, what is the value of the voucher that will achieve the efficient number of students?
If the government decides to subsidize private colleges, what subsidy will achieve the efficient number of college students?
If the government decides to provide public colleges, what tuition will these colleges charge to achieve the efficient number of students? How much will taxpayers have to pay?
If all colleges are private and the market for education is competitive, how many students enroll, what is the tuition, and what is the deadweight loss created?
What in this news clip points to a distinction between public production of a public good and public provision? Give examples of three public goods that are produced by private firms but provided by
Why is it “politically tricky” to raise gas taxes to finance infrastructure?
What is the principle of diminishing marginal benefit? In Problem 27, does Sam’s, Nick’s or the society’s marginal benefit diminish faster?
The table sets out the marginal benefits that Sam and Nick receive from the town’s street lighting:Marginal benefit Number of Sam Nick street lights (dollars per street light)1 10 12 2 8 9 3 6 6 4
Explain the evidence the news clip presents to contradict the argument that “the reason people don’t have health insurance isn’t because they don’t want it, it’s because they can’t afford
Explain why government-subsidized health-care services can create a free-rider problem.
Classify each of the following goods as a private good, a public good, or a mixed good and say whether it creates an external benefit, external cost, or neither.■ Chewing gum■ The Santa Monica
Consider each of the following activities or events and say for each one whether it creates an externality.If so, say whether it creates an external benefit or external cost and whether the
Classify each of the following items as a public good, a private good, a natural monopoly good, a common resource, or a mixed good.■ Measles vaccinations■ Tuna in the Pacific Ocean■ Air service
Classify each of the following items as excludable, nonexcludable, rival, or nonrival.■ Firefighting service■ A Starbucks coffee■ A view of the Liberty Bell■ The Appalachian Trail■ A google
Tuition Hikes, not Loan Access, Should Frighten Students The real danger during a recession is a hike in tuition, not a cut in student loans. In past recessions, states have cut funding for colleges
If the government offers vouchers to those who enroll at a college and no subsidy, what is the value of the voucher that will achieve the efficient number of students?
If the government decides to subsidize private colleges, what subsidy will achieve the efficient number of college students?
If the government decides to provide public colleges, what tuition will these colleges charge to achieve the efficient number of students? How much will taxpayers have to pay?
What is the efficient number of students? If all colleges are private, how many people enroll in college and what is the tuition?
If the government sets up a Department of Mosquito Control and appoints a bureaucrat to run it, would mosquito spraying most likely be underprovided, overprovided, or provided at the efficient
What quantity of spraying would a private mosquito control program provide? What is the efficient quantity of spraying? In a single-issue election on the quantity of spraying, what quantity would the
What is the political equilibrium if voters are rationally ignorant and bureaucrats achieve the highest attainable budget?Use the data on a mosquito control program in the following table to work
What is the political equilibrium if voters are well informed?
What is the efficient capacity of the waste disposal system? How much will each person have to pay in taxes for the city to install the efficient capacity?
Vaccination Dodgers Doctors struggle to eradicate polio worldwide, but one of the biggest problems is persuading parents to vaccinate their children. Since the discovery of the vaccine, polio has
For each of the following goods and services, explain whether there is a free-rider problem. If there is no such problem, how is it avoided?■ National hurricane warning system■ Ambulance
The table sets out the marginal benefits that Terri and Sue receive from police officers on duty on the college campus:Police officers Marginal benefit on duty Terri Sue(number per night) (dollars

Showing 200 - 300 of 5354

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved