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The theory of comparative advantage may be applied to a country's output.
Develop an algorithm for an alternative StartBorder method, createMultipleToads, which generates a Toad agent with probability 0.3 as long.
In what way was international trad an engine of growth for the regions of recent setlment during the 19th century?
Would consumers buy cheaper, untested goods or would they fear a moral hazard problem? Discuss.
Suppose that you are given and in the signaling model in the chapter. For what value of c are both a pooling equilibrium and a separating equilibrium possible?
How does hiring behavior compare to statistical discrimination by employers on basis of race or gender? Discuss equity and efficiency implications of practice.
When is statistical discrimination privately inefficient? When is it socially inefficient? Does it always harm members of the discriminated-against group?
One rationale is that eliminating the letter-grade system reduces the pressure on students, thus enabling them. Why might this policy help or hurt students?
What are the implications for moral hazard, efficiency, and risk sharing? Can their decision be viewed as a form of signaling?
You can be assured your manager's investment decisions are guided by one primary goal-increasing your assets. Is this policy in a customer's best interest? Why?
Some sellers offer to buy back a good later at some prespecified price. Why would a firm make such a commitment to deal with moral hazard concerns?
Is this compensation scheme likely to lead to opportunistic behavior by insurance companies? What would be a better way to handle the compensation?
When I was in graduate school, I shared an apartment with a fellow who was madly in love with a woman. What is the implication of this fee-sharing arrangement?
Why does their business profit-sharing contract give them an incentive to maximize their joint economic profit if neither can force the other to work?
What are the implications of this change in compensation for moral hazards and for risk bearing?
Does your answer turn on how predictable the value of the sunken treasure is? Would another compensation scheme be more efficient?
Fourteen states have laws that limit conditions under which a franchisor. What effects would such laws have on production efficiency and risk bearing?
Why is Medicare's new policy designed to deal with adverse selection or moral hazard? Is it likely to help? Explain.
A promoter arranges for many different restaurant to set up booths to sell Cajun-Creole food. Why aren't the food booths allowed to sell food directly for cash?
Find the profit-maximizing quantity produced and price charged by the dominant firm, and the quantity produced and price charged by each of the fringe firms.
What issues are taken into consideration, when choosing input factors between new raw materials and recycled ones? Enumerate some of them.
What are the primary considerations for this country from an international banking perspective? Is there significant country or currency risk noted for country?
To what extent are differences in the institutional and organizational characteristics and in the long-term performance of national business systems the result.
How does such a restriction affect moral hazard and risk bearing? Show these results in a graph.
List some necessary conditions for a firm to be able to sort potential employees by providing them with a choice of contracts.