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- The state of Colorado requires oil and gas companies who use fracking techniques to retune the land to its original condition after the oil and gas extractions. Table 12.9 shows the total cost and total benefits (in dollars) of this policy. Calculate the marginal cost and the marginal benefit at each quantity (acre) of land restored. See Production. Costs and Industry Structure if you need a refresher on how to calculate marginal costs and benefits. If we apply marginal analysis, what is the optimal amount of land to be restored?#12 ch. 13 Can you explain what the correct one is and why? Can you also explain why the other ones are incorrect?19- : Which economics studies the behavior of economic units, the interaction of consumers and firms? a) international Economics B) Macro economics NS) growth economics D) monetary economics TO) microeconomics
- 16. Which of the following statements about the use of resources is not one of the key questions in economics? a. How are resources used? b. Location where resources are used? c. For whom are resources used? d. For what are resources used?No written by hand solution Suppose there is an increase in lump sum taxes. Describe and illustrate the impact on consumers’ optimal choices for consumption, leisure, and labor supply with a graph. What is the impact on consumer welfare?14- Macroeconomics is the branch of economics that studies________. a. the economy as a whole b. prices of individual goods c. none of these d. the way individual markets work
- 1. The broader economic factors is also called micro-economics. Group of answer choices True False 2. That branch of Economics that involves the application of its definite laws, theories of investment and business practices to engineering problems involving cost.5.21 explain7. (Ad Valorem) What is the effect of an ad valorem tax of v (the share of the price that goes to the government) on a competitive firm's profit-maximizing output given the marketprice is unaffected?
- S 2 what is agricultural economics?ECONOMICS QUESTION 1a) Suppose you live in an apartment and you have 3 roommate and you just cleaned the kitchen in your apartment. Can your roommates be excluded from appreciated their freshly cleaned kitchen? Why or why not? 1b) If one of your roommates observes and appreciates the cleanliness of the kitchen (but doen't touch anything), does this prevent your other roommates from also appreciating the cleanliness of the kitchen? Explain. 1c) What type of good is your freshly cleaned kitchen? 1d) Suppose your roommates notice that every time they leave a mess in the kitchen, you clean it up for them. How might this incentivize them to behave? What is this example an illustration of?(1.)Telecommuting refers to a system under which employees work at home for one or more days per week and use personal computers and telephone lines to interact with people in the office. Consider an office firm that must decide whether to locate in the Central Business District or along a suburban beltway (to be closer to its suburban workforce). Discuss the effects of telecommuting on the relative attractiveness of the CBD. (2.)Consider a modern city in which office employment has been steadily shifting from the city center to suburban locations along beltways. Suppose that the city improves its mass-transit system, decreasing the monetary and time costs of radial travel. Assume that the improvement in the transit system does not affect the spatial distribution of residents. Will the improvement in the system speed up or slow down the movement of office firms to the suburbs?
