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Demonstrate how if a public good is to be provided in some fixed amount or not provided at all, then a necessary and sufficient condition for provision to be Pareto efficient is that the sum of the willingnesses to pay (the reservation prices) exceeds the cost of the public good
Demonstrate how if a public good is to be provided in some fixed amount or not provided at all, then a necessary and sufficient condition for provision to be Pareto efficient is that the sum of the willingnesses to pay (the reservation prices) exceeds the cost of the public good
Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest.
if c=0,5,co=300,I=400,G=300 and T=100 and contractionary fiscal policy is introduced and the government spending decreases to 200 and taxes increases to 150 then the equilibrium level of output and income is equal to 1650.
True or False
. Using graphs, explain what will happen to the equilibrium price and the equilibrium quantity of a product in a perfectly competitive market as a result of each of the following scenarios: a. A rise in the number of buyers and a decrease in the cost of producing the product. b. Advances in the technology used to produce the product and a decrease in the price of a substitute.
Seasonal goods are goods that are consumed in larger quantities during some seasons than in other seasons, e.g. strawberries or hotel rooms near a beach during summer. While the price for strawberries is lowest during their season of highest consumption the price for hotel rooms near the beach is highest during their season of highest consumption. Explain why.
Given the original demand and supply equations for period 1, Qd = 120 - 6P and Qs = 12 + 4P solve the following:
Problem 1: The new and original price equilibrium given that the new demand and supply equations are Qd = 130 - 6P and Qs = 20 + 4P
Problem 2: The new and original quantity equilibrium given that the new demand and supply equations are Qd = 130 - 6P and Qs = 20 + 4P
Problem 3: The change in price equilibrium given that the new demand and supply equations are Qd = 130 - 6P and Qs = 20 + 4P
Problem 4: The change in quantity equilibrium given that the new demand and supply equations are Qd = 130 - 6P and Qs = 20 + 4P
- Suppose the good in question is alcohol. Why might the elasticity fall when the time horizon increases?
Rick Hall owns a card shop, Hall's Cards. The following cash information is available for the
month of August 2016.
As of August 31, the bank statement shows a balance of $16,140. The August 31 unadjusted
balance in the Cash account of Hall's Cards is $14,100. A review of the bank statement revealed
the following information:
A deposit of $4,150 on August 31, 2016, does not appear on the August bank statement.
2. It was discovered that a check to pay for baseball cards was correctly written and paid by the
bank for $4.500 but was recorded on the books as $5.400.
3.
When checks written during the month were compared with those paid by the bank, three
checks amounting to $5,370 were found to be outstanding.
4.
A debit memo for $80 was included in the bank statement for the purchase of a new supply
of checks.
Required
a. Prepare a bank reconciliation at the end of August showing the true cash balance.
On-the-job experience typically enhances a person’s productivity in that particular job. If theperson’s salary increases to reflect increased experience but the additional experience has no relevance for other jobs, does this higher salary reflect an increase in opportunity cost or in economic rent?
