1. When the social cost of producing a good is higher than the private cost, then

A) positive externalities exist.

B) there are no externalities.

C) negative externalities exist.

7. If pollution exist in a market,

A) the supply curve would be lower than optimum and the equilibrium quantity higher than optimum.

B) the supply curve would be higher than optimum and the equilibrium quantity lower than optimum.

C) the supply curve would be higher than optimum (efficient) and the equilibrium quantity higher than optimum.

9. Which of the following are examples of command-and-control regulation?

A) The U.S. government makes subsidies available to the manufacturing industries whose CO2 emissions exceed certain levels to install equipment to scrub the CO2 from their emissions.

B) The U.S. government determines solar panels are cleaner energy and subsidizes their use to reduce CO2 emissions from manufacturing industries.

C) The U.S. government requires firms to install antipollution equipment to improve air and water quality.

10. What are the benefits of clearly established property rights?

A) Responsible parties are identified and it helps increase negative externalities.

B) Business are incentivized to comply with regulations.

C) Responsible parties are identified and it helps reduce negative externalities.

With this assignment I would like for you to take a topic in economics and analyze it using the concepts and ideas developed in the course. You can follow the format for writing a paper on Wal-Mart, or you can choose to analyze any other applicable topic that interests you using the paper guidelines provided (under 'Assignments'/'Writing Assignment'; I've provided examples of papers and topics composed by previous instructors and students in this course). If you have questions and/or problems understanding the assignment or accessing the aforementioned information please let me know.

The writing assignment should be between 500 - 1000 words. It is due by the Saturday of finals week.

How might a company try to weigh fairly the opportunities and risks of investing in South Africa?

1. What are the costs and benefits to South Africa of having more foreign direct investment? Of having less?

The contributions of great theorists like Adam Smith, Karl Marx, Emile Durkheim, Max Weber, Fredrick Winslow Taylor, Mary Parker Follett, Henri Fayol, Chester Bernard, Immanuel Kant, Rene Descartes, and John Locke were presented in the text and discussed in class. Choose three of these theorists, explain why you chose them, and briefly explain their contribution to organization theory.

An online shopping website considers offering its customers a mail-in rebate program. By this way, it aims to differentiate between different groups of customers. After the completion of the purchase of a wireless router, consumers can mail a rebate form to receive $ back. In other words, the net price after the rebate is p*-a for those who are interested in the mail-in-rebate. The shopping website is a monopoly with no fixed cost. Its marginal cost is $30.

The Market consists of two different consumer groups whose demand functions are as follows:

The demand of the two groups are as follows;

P1=150-2q1

P2=100-5q2

Assuming that the consumers of group 1 are not interested in rebate forms,

a. What is the optimal rebate amount, which differentiates between different consumer groups?

b. Assume that the firm has enough information about its consumers to implement a perfect price discrimination strategy. Calculate the equilibrium price and quantities and the profit if the firm uses perfect price discrimination. (Do not derive the kinked market demand curve. Simple assume that the market demand is Q=95-07P)

1. Conduct personal research to define integrated assessment models (IAM). List the relevant components and how they "integrate" different fields of study.

Suppose that changes in bank regulations expand the availability of credit cards, so

that people need to hold less cash. Use the money demand and supply diagram in the long run to answer

the following:

a.   How does this event affect the demand for money? (explain with graph + words)

b. If the Bank of Canada does not respond to this event, what will happen to the price level?

c. If the Bank of Canada wants to keep the price level stable, what should it do? (show on graph + explain with words)

1. How did employees of Enron (and employees of the utilities company in Oregon) end up losing billions in retirement funds?

Consider a representative firm with the total costs of TC=16+Q^2 (and marginal costs of 2Q, MC=2Q) . The market demand curve is given by P=36-1/2Q and the starting market price is $18

1. Graph the starting scenario using comparative statistics

2. Why is this not a long run equilibrium?

3. What happens in order to transition to the long run?

4. Graph the long run equilibrium using comparative statistics

5. How many firms are in the market in the long run?

The following is a simplified Balance Sheet for a Canadian bank:

_______________________________________________________________________________________________

Great White North Bank

Balance Sheet

As at Dec. 31, 2017

Assets                                                                           Liabilities

Cash Reserves                          $ 20,000                      Demand Deposits                                  $100,000

Loans to Customers                       50,000                     

Investment in Securities                 30,000                                                 Equity

Fixed Assets                                 20,000                      Shareholders’ Equity                                 20,000

Total Assets                              $120,000                      Total Liabilities & Equity                      $120,000

_______________________________________________________________________________________________

1. What percent of its demand deposits is this bank holding in cash reserves (the reserve ratio)? (1 mark)

2. If a deposit of $10,000 is made, how much of this is lent out to maintain the same reserve ratio? How much can bank deposits in the system potentially increase as a result?  

3. Show the balance sheet after the bank receives the $10,000 deposit and then makes loans from that deposit.

1. The following two linear functions represent a market (thus one is a supply function, the other a demand function). Circle the answer closest to being correct. Approximately what will suppliers willingly supply if the government controls the market price to be $3.00 (You must first find the market equilibrium price and quantity in order to see how the $3.00 relates to them)? Q = 100 – 4.6P and Q = 75 + 6.2P
Possible answers: 2.3 84.3 86.2     89.3     93.1     93.6 (all close, but approximate)

2. There has been a change in the market (represented in 1 above). The change is represented by the following two equations. Circle the one correct conclusion that describes the market change. Q = 90 + 6.2P   and Q = 110 – 4.6P
Possible Answers: a. demand has decreased,  b. demand has increased, c. supply has decreased, d. supply has increased, e. supply has decreased and demand has decreased, f. supply has increased and demand has increased

3. Circle the function on the answer sheet that represents the marginal revenue (MR) function for this demand function: Q = 75 – 7P
Possible Answers: a. MR=19.57-.044Q, b. MR=21.74-.044Q, c. MR=26.09-.044Q, d. MR=33.33-.066Q, e. MR= 30.00-0.4Q, f. MR=10.71-0.28Q

4. Circle the quantity that maximizes total revenue (TR) for the marginal revenue (MR) function selected in number three (3).
Possible Answers: 38.25   44.48   49.41   50.50   59.30   75.00

5. If supply decreases but demand remains the same, we can conclude that the new equilibrium:
Possible Answers: a. Price must fall but market quantity is indeterminate.    b. Quantity must increase but market price is indeterminate.   c. Price must increase but market quantity is indeterminate.   d. Quantity must decrease but market price is indeterminate.   e. Price must increase and Quantity must increase.     f.   Price must increase and quantity must decrease.

Please show work on how you solved the questions.

How did the tactics, goals, and/or strategies of the Civil Rights movement shift over the course of the early 1960s? what obstacles did these civil rights organizations confront? How did Martin Luther King Jr and others defend the policy of direct nonviolent confrontation and action?

300 words

You are planning to estimate a short- run production function for your firm, and you have collected the following data on labor usage (L) and output (Q):

a. Please key in the data into MS Excel for regression analysis. Estimate your firm’s
short-run production function. Do the parameter estimates have the appropriate algebraic
signs? Are they statistically significant at the 5 percent level?
b. At what point do you estimate marginal product (MP) begins to fall?
c. Calculate estimates of average products (AP) and marginal products (MP) when the
firm employs 20 workers.
d. When the firm employs 20 workers, is short-run marginal cost (MC) rising or falling?
How can you tell?

Jack and Kate both care about the poor. A €10 reduction in poverty generates benefits of €7.50 for both Jack and Kate. Assume that Jack and Kate can make a charity donation of a maximum of €10 each if they so wish.

(i) Using a pay-off matrix outline and explain the four possible pay-offs.

(ii) Assuming both Jack and Kate have an incentive to free-ride on the giving of others how much will each of them contribute to poverty alleviation? Explain, using your pay-off matrix. (iii) (ii)Using your pay-off matrix explain how compelling both Jack and Kate to give €10 each through an income tax system could benefit both of them and lead to a Pareto improvement.