Incentive based regulatory systems

What is the advantage of incentive-based regulatory systems for pollution rather than a command-based one? Give an example of one that has work recently and how it works

Trade barriers

What are some arguments for trade barriers? List at least three and briefly describe. Make a case for the use of each.

Absolute vs. Comparative advantages

Explain the difference between absolute and comparative advantage.

Why is this statement true or false?

The standard error of the estimate can be used to determine a range within which the independent X variables can be predicted with varying degrees of statistical confidence based on the regression coefficients and the value for the Y variable. Why is this statement true or false?

Diminishing returns

Diminishing returns. See attached file for full problem description.

market equilibrium price-output combination

Qs = Qd P= 3+.000083333Qs P=7-.00005Qd set these equal to each other I know the equilibrium price is $5.50 and the quantity is 30,000 but I'm not good with math steps in between. Please help.

Multiple choice questions on minimum wage, cost curve, marginal revenue, labor demand curve, monopolistic seller, lobbying, maximizing profits

2. Critics of the minimum wage argue that as an antipoverty device it is "poorly targeted." By this they mean that: a. the minimum wage only applies to a small percentage of the labor force. b. many who benefit from the minimum wage are not poor. c. the government has been unable to enforce the minimum wage. d. ...continues

3 Multiple Choice Questions

28. Marginal revenue product measures the: (1 point) a. amount by which the extra production of one more worker increases a firm's total revenue. b. decline in product price that a firm must accept to sell the extra output of one more worker. c. increase in total resource cost resulting from the hire of one ...continues

Nash equilibrium, long-run profits, gas prices

1. (a) A monopolist uses price discrimination to increase their profits. Where does this profit come from? Use a graph to explain your answer. (b) How is monopolistically competitive firm different from a perfectly competitive firm in the long-run? Graph this. (c) What characteristic of monopolistic com ...continues

profit maximization: equations

QPL offers mail-order storage containers for fine china. The co is the low cost provider of these quilted boxes with fixed costs of $480000per year, plus variable costs of $30per box. Annual demand and marginal revenue relations for the co. are: P=$70 - $0.0005; MR=dTR/dQ = $70-$0.001Q A. Calculate the profit maximizing aac ...continues