QUESTION 1) Why might improvements in children’s public health care services lower fertility?2) Explain what is meant by urban bias. What are the major effects of urban bias?3) Generally speaking, higher income countries tend to have less income inequality than low income countries, however this does not always hold true. What could cause a low […]
QUESTION Suppose Mr. Macleod likes to consume wine. He has the option to consume two different products, 1 liter of red wine (x) or 1.6 liters of white wine (y). x and y are perfect substitutes. Each liter of wine gives Mr Macleod 1 unit ofutility.(a) Write down Mr. Macleod utility function.(b) Consider px = […]
QUESTION Review Problems for Test 21. Which of the following are Hermitian operators?(a) XPy(b) XPx(c) HX(d) XPx X2. Evaluate the expectation value of Lx and L2 in the statey1 + 2i|ψ = √ |2 − 111z2+ √ |1011z3. An angular momentum system with l = 1 is prepared in the state1|ψ = √ |1114z3− √ […]
QUESTION Mr Macleod likes to drink wine. He has the option to consume two different products, 1 liter ofred wine (X) or 1.6 liters of white wine (Y). X and Y are perfect substitutes. Each liter of winegives Mr Macleod 1 unit of utility.a) Write Mr Macleod utility function.b) Suppose that Px=5. Calculate the Marshallian […]
QUESTION The widget market is competitive and includes not transaction costs. Five suppliers are willing to sell one wide at the following prices: $30, $29, $20, $16, and $12. Five buyers are willing to buy one widget at the following prices: $10, $12, $20, $24, and $29. What is the equilibrium price and quantity in […]
QUESTION There are two firms in an industry, engaged in Cournot competition. The firms compete repeatedlyin successive time periods. Occasionally, one of the firms is required to produce a certain amount(due to production constraints). This amount is known to both firms before the other firm has thechance to choose its output. At other times, the […]
QUESTION Open-Response Homework Problem 24.5 Sandra Bullock, taking on one of her more desperate roles, acceptsa part in an extremely mediocre movie. To make up for the ill-developed plot, the director chooses to increasethe quality of cinematography by actually shooting the film in orbit 40,000 meters above the surface of the earth.The effect is quite […]
QUESTION Barriers to entry might include all of the following EXCEPTA) patents and copyrights.B) ownership of essential resources.C) government franchise.D) positive economic profits.2.Economies of scale may be a barrier to entry in a situation in whichA) only small-scale production can lower the average cost of production.B) only small-scale production can meet the constantly changing market […]
QUESTION Monopolies can sometimes find themselves in difficult financial situations that lead to losses. Suppose Mr. Burnsâ power company has a monopoly for providing electricity in Springfield. His costs of upkeep are so high that he is consistently losing money.Show this outcome in a completely labeled graph. Clearly identify all parts of your graph, including […]
QUESTION A shift outward in the demand curve always results in an increase in total spending (price times quantity) on a good. On the other hand, a shift outward in the supply curve may increase or decrease total spending. ExplainCan I get a graph with the answer, so I understand it ANSWER: REQUEST HELP […]
