Purchase Solution

Economics

Not what you're looking for?

Ask Custom Question

1) FILL IN THE HIGHLIGHTED BOXES
WORKERS WAGE RATE TOTAL LABOR COST MARGINAL FACTOR COST

1 $ 12.00 $ 12.00
2 $ 12.10 $ 24.20
3 $ 12.20
4 $ 12.60

3) Using the following data, prove that pollution permits that can be bought and sold can reduce pollution from 12 units to 6 units at a lower cost than a regulation that specifies each of the three firms must cut its pollution in half.
FIRM X FIRM Y FIRM Z

Cost of Eliminating:

First unit of Polution $ 200 $ 500 $ 1,000
Second unit of Polution 300 700 2,000
Third unit of Polution 400 800 2,900
Fourth unit of Polution 500 900 3,400

Attachments
Purchase this Solution
Solution provided by:
Gaurav Agarwal, MS
Education
  • BE, Bangalore University, India
  • MS, University of Wisconsin-Madison
Recent Feedback
  • "Your explanation to the answers were very helpful."
  • "What does 1 and 0 means in the repair column?"
  • "Went through all of the formulas, excellent work! This really helped me!"
  • "try others as well please"
  • "Thank you, this helped a lot. I was not sure how to plug in those numbers to a formula. This was a great help. Now I have to figure out how to explain cost of capital is used in net present value analysis, and how cost of capital is used in net present value analysis. This stuff gets confusing."
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

View More Free Quizzes
Related BrainMass Solutions

  • Difference Between Positive and Normative Economics

    What role do ethics play in normative economics? What is the difference between positive and normative economics? Positive economics is the actual study of economics from a perspective of objective analysis.

  • This posting addresses positive and normative economics.

    463362 Positive and Normative Economics What is the difference between positive and normative economics? Which is more prevalent in today's economies? Why? What role, if any, do ethics play in positive economics?

  • Positive & Normative Economics and Market Efficiency Evolution

    The difference between positive economics and normative economics is that positive economics is related to description and explanation of economic happenings. On the other hand normative economics is related to passing value judgments.

  • The Three Facets Of Economics

    532914 The Three Facets of Economics Part 1: How can Personal Economics, Consumer Economics, and Social Economics be introduced to students at an elementary level?

  • If resources became freely available in unlimited quantities

    392009 If resources became freely available in unlimited quantities, would there still be a need for economics? If resources became freely available in unlimited quantities, would there still be a need for economics?

  • The Managerial Economics of Business Investment

    338112 The Managerial Economics of Business Investment research overview This post offers help with discussing a topic in the field of Managerial Economics: Topic "The Managerial Economics of Business Investment" Dear Student, Thank you for using BM

  • economics and personal decisions

    250256 What role does economics play in your personal decisions? What role does economics play in your organizational decisions? What role does economics play in your personal decisions?

  • Challenges facing economics scholars

    18695 Challenges facing economics scholars Examine the academic curriculum and dicuss the challeges confronted by scholars of the following areas of specialisation. 1, Agricultural economics 2, Environmental Economics 3, international Economics Hello

  • This posting addresses the need for economics.

    Here's why - Let's look at what would produce no need for economics.

  • Concept of Scarcity Central to Economics

    544608 Concept of Scarcity Central to Economics Can you please help me to understand the concept of scarcity and why it is central to the study of economics? Thank you!

View More Related Solutions