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Assume you are managing a firm that recently entered in the transportation service, which is meter taxi service similar with Ride, Feres and others. If you have to estimate the demand for the transportation service you provide
Explain the three categories of returns to scale relating to the long-run average cost curve.
The income elasticity of demand for good measures the responsiveness of _____to a change in ______
What information does a government need if it wants to attempt to reduce a widespread negative externality like air pollution? Who, typically, is actually in possession of that information? How do markets in tradeable emissions permits solve the asymmetric information problem affecting pollution abatement efforts?
Suppose that the consumer has a demand function of the milk from X1=10+(m/10p1) originally his income was 120 per week and the price of milk was 3 per unit What is the demand of the milk per week suppose that the price of milk falls 22 pioneer what is the demand at his new price of milk per week what is the total change in demand in a week Calculate the substitution effect and income effect after this change in price
A Monopolist producing and supplying cooking gas to Mongolia faces the demand function. Q = 8800 – 20P. Its cost function is given by TC = 20Q + 0.05Q2 . i. Determine the quantity of cooking gas she will produce and the price she will charge to maximize profits and determine her profit. ii. Explain how her profits she will affected if regulators forced her to operate like a perfectly competitive firm. iii. Illustrate and compute deadweight loss and lost consumer surplus associated with her Monopoly operations. b. Based on any community project of your choice, use indifference curves and the budget concept to illustrate your understanding of consumer equilibrium.
Using loanable funds theory, discuss how changes in consumer savings, business investment, and in the money supply by the Federal Reserve System can influence the level of interest rate
As a result of imbalance in revenue generation by provincial governments and local municipalities in South Africa, intergovernmental grants have been a important source of finance for Local Governments. The allocations of these funds for use in the local authorities have been questionable, some doubting if the funds are use for what they were earmarked for. Critically discuss, with the aid of diagrams the conditional no -matching grants with unconditional nonmatching grant?