Determine a countrys tradeoff among the production
Determine a country's tradeoff among the production of two 'goods': environmental quality (extent to which their environment, including air and waters, are clean), and all other goods. Why is there a tradeoff? Discuss.
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In the population, the average score upon a test of self-esteem is 50 ( st.dev.= 5). You select one sample of 25 students who score a mean of 53.
The U.S had an average income of about #2758 and the U.K of about $3463 in 1870. The figures were $30,600 and $22,640, respectively in 1999.
Determine a farmer who can either plant or market or consume his crop. Whatever amount he plants becomes a crop twice the size the following year.
The inflation rate from 2010 to 2011 for a good j is defined to be Ij = (Pj/pj)? 1, where pj was the price in 2010 and Pj was the price in 2011 (assuming for simplicity that the prices stayed fixed throughout each given year.
Seventy percent of aircraft in the United States have an emergency locator. 60% of the aircraft that disappear are discovered and have an emergency locator.
If the price of cheese is marked down during a sale by 20% and in response the quantity demanded increase from the 30 packages to the 45 packages determine the price elasticity of demand? Is demand inelastic or elastic?
If a country wants to fill its military ranks at the smallest opportunity cost to the nation, should it institute an all-volunteer military or use a draft system that relies on a lottery? Explain.
Explain what would happen if the government chooses to increase the number of years that a firm can enjoy patent protection from 20 years to 25 years?
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