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What concerns might prevent Superfund litigants from pressing on to trial in the face of a seemingly unfair demand from the EPA?
Which dispute resolution technique would you advise for neighbors who disagree over homeowners' rights to replace lawns with unmown native grasses.
What dispute resolution technique would you advise for Spain and Britain in their dispute over the Rock of Gibraltar?
Draw another graph with the price per unit on the vertical axis and the number of units purchased on the horizontal axis.
Draw a graph with the price per unit on the vertical axis and the number of units purchased on the horizontal axis.
What do you see as the most realistic policy approach to minimizing future conflicts over water? Would you be in favor of water rationing in your area?
What is the descriptive approach? How is it different from the prescriptive approach and where would managerial economics stand?
What is paradigm and how is it different from theory? Can you provide an example to set the two apart?
List and explain the four major steps of the decision-making process according to the scientific approach.
What are the qualitative fundamentals and why are they important to know for the study of managerial economics?
For which of these sets of policymakers would you most like to see a change in ethics, and to which theory would you want them to change?
Are the people you know who would never do one also the types who would be unlikely to do the other? Explain your observations.
Draw a utility distribution curve on which the Rawlsian and the egalitarian allocations are identical, but the utilitarian allocation is different.
Consider one of the many dilemmas faced by the U.S. Food and Drug Administration. Which ethical theories would support this decision?
To what extent is government aimed at the common good? Can individuals be trusted to act on the behalf of society? Comment in a paragraph or two.
What do you think are the strongest determinants of an individual's environmental ethic?
Would you hunt and kill one of these turtles for $20? For $10,000? At what price would you draw the line? What does this say about your environmental ethics?
What criteria do you most often use when faced with an ethical dilemma? Which of the theories described in this chapter is the closest to your personal theory?
Explain the econometric method of forecasting and describe process from specifying the econometric equation to having the final results of forecasted variables
List and explain the possible variations in the time series data. How are they different from each other?
Explain the nature and purpose of economic forecasting and how significant it is in the context of managerial economics.
Describe the process of demand estimation by the regression method from the beginning to the end and specify what it need to be a reliable method of estimation.
What is the significance of demand estimation? Discuss how it is important to the theory and to managers and their business strategies.
If this consumer is willing to pay $96.00 a piece, how many units would he or she buy? How would these scenarios be depicted on a graph?
If the government imposes a price floor of $1.20 on this commodity, what would happen to the quantities demanded and supplied?