Discuss the situations under which private markets fail to achieve the highest level of social welfare. Include in your answer how the different situations effect WTP/MB and WTA/MC. In addition, discuss the role of government when markets fail to achieve the socially optimal level of output.

• What measures will you use to evaluate the project’s success?
  • What does success look like?
• What methods will you use to conduct the evaluation of the project?
• What is the time line for evaluating the project?
• How will you ensure the project’s continued success moving forward?

ANY INFORMATION IS HELPFUL THIS IS BASED ON ANY PROJECT OF ANY KIND JUST YOUR THOUGHTS.

5. Not so long ago, voters in our state passed a law raising the tax on a pack of cigarettes by $2. Let’s say that as a result, the price of a typical pack went up from $5 to $7 per pack. If the quantity of packs purchased each day at $5 was 5 million packs per day in our state, predict what happened to quantity purchased when the price rose to $7 per pack. 6. Name a product or service that is completely new—not discussed in the Modules or the text. What is the price of this product (or service)? What is the quantity sold per year? (you may estimate this). IS THE DEMAND FOR THIS PRODUCT OR SERVICE (PRICE) ELASTIC? OR INELASTIC? WHY? What would happen to the quantity purchased of this product if the price were to rise by 10%? Why? 7. In Module #2 we discussed the idea that Coke and Pepsi demonstrate a high “CROSS” (price) elasticity measure. What does this mean, exactly? 8. In theory, if Coke were to raise its price by 5%, how would this affect the Demand for Pepsi? Why? 9. In theory, if Coke were to LOWER its price by 5%, what would happen to the Demand for Pepsi? Why?

1. Discuss (in a paragraph below) the benefits of using a GANTT chart for managing a project.
2. Outline the six main steps of the PERT method for project management.
3. Explain why it is important to consider project budgets and other resources in project design.

. 1. What are the forces that determine why some Demand curves are ‘elastic’ while others are ‘inelastic’? 2. Why is the Demand curve for gasoline considered to be ‘inelastic’ while the Demand curve for one type of ‘typical’ new car is considered to be ‘elastic’? 3. Is the Demand curve for coffee price inelastic? Or price elastic? Why? Please apply the forces discussed in question #1 to your analysis. 4. Do the same analysis for the Demand for a typical loaf of bread, a $50 per person meal, and a pack of cigarettes.

Briefly describe the concept of "moral hazard" as it relates to corporations in the presence of government bailouts.

Who realizes the benefits and who bears the cost of moral hazard?

How can the costs of moral hazard be reduced through effective corporate governance?

Discuss in detail the transition of a firm from perfect competition to monopolistic. Explain with a good example.

We are looking at the market for gasoline in the United States, this week. Begin with the market in equilibrium. A report is released that we should expect the price of gasoline to rise in the near future, with up to a 50-cent increase sometime next week. Assume that we all have access to this information. Graph the changes and answer the following questions:

How do the unhappy participants react?

Question options:

80% of the world trade is dominated by the developed countries. In this context, poor nations / less developing countries should be allowed to protect their industries from foreign competition / imports.

1. List 02 x indicators might be used to determine that a nation is poor? (02 x Marks)

2. Describe 02 x methods that might be used to protect industries from foreign competition in International Trade. (04 x Marks)

In the light of Comparative Advantage, discuss whether it is better for a country specifically for poor nations to engage in free trade or to use some form of protection from foreign competition.

Gloria and Tran are both having bad weeks.

Gloria forgot to save her work and had to redo her essay, a pain that she values at about $30, and also the professor told her the essay was bad, a pain she values at $60.

Tran skinned his knee while walking his dog, a pain he values at about $30, and also his sister got a fever and he had to care for her, a pain he values at $60.

Assume both of them have the same prospect theory value function. Keeping mental accounting in mind, which of them is likely feeling worse right now?

Select one:

a. Tran

b. They're equal

c. Gloria

d. No way to tell

Draw a graph to support your answer

Due to the sudden outbreak of the pandemic, you were asked to stay back in your home to maintain social distancing. If you do not follow the restriction, there is a possibility that you infect another 2.5 people, and on average, the government must incur $40 each person on their medical expenses. You realize that your marginal cost of staying back home is MC= 10 + 5 Q, where Q is the number of weeks you confine yourself in your home. Moreover, you enjoy a benefit of $40 each week for not traveling to your work. How many days will you stay back home at optimum (consider yourself a selfish person)? What is the socially efficient number of weeks you should stay back home? What fine should the government impose if you do not follow the rule?

What are your thoughts and feelings about the George Floyd incident?

Did this incident change your feelings about the police and/or racism in our country? If so please describe how it has changed your opinion about police and/or racism in the US. Write an essay about your feelings about the incident.

A) Using the IS-LM model, show graphically and explain the effects of a monetary contraction. What is the effect on the equilibrium interest rate and level of output?

B) Using the IS-LM model, show graphically and explain the effects of a monetary expansion. What is the effect on the equilibrium interest rate and level of output?

Why many people tend to hold more money, while some other people prefer to
hold less money. And why the interest rate serves as the opportunity cost of
holding money?

Give two reasons why the Bank of Canada's (BoC) policy of buying Government bonds may be beneficial. Be specific about what is at stake and how this monetary policy may be beneficial. Provide two reasons why this monetary policy may be risky. What is at stake?