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- In economics, cultural norms are a given-not a factor that can be critiqued and changed for economic reasons. True Click or tap "True" or "False" to answer the question. FalseAn alternative way of thinking about the forces that cause markets to equlibrate in the real world is to think of markets reallocating the good from low to high valued use. Or to think of how the action of buyers and sellers engaging in mutually beneficial voluntary exchange (market forces) reallocates legal ownership or the physical location of the good from low to high valued used. Consider the demand at a price of $9. Look at the image below. multiple answers may be correct.Typed plz My feedback depends on how good quality solution I get Thanks I want both solved if not both so hang on
- In the table below, fill in the numeric answers in the "Willingness to Pay" (WTP) blanks where indicated. WTPx, WTPy, WTPZ represent three different individual's "willingness to pay". Q MC WTPx WTPy WTPz Collective WTP 1 15 18 21 16 Number 2 17 12 Number 8 37 3 19 Number 14 5 27 4 20 6 12 3 Number 5 27 5 11 Number 18 What is the optimal quantity of the public good that should be provided? Click for ListFor each of the events describe below, you are required to explain: 1. The market you are evaluating (e.g., labour market, automotive market, etc). 2. Does the event act on the demand side, supply side, or both sides of the market? 3. Does the event lead to a quantity or price change? Or does the event lead to a shift in demand, supply, or both? Make sure to explain what sort of assumptions you are making on the elasticities of demand and supply (when plotting your demand and supply, describe whether you are assuming an elastic or inelastic demand/supply). a) A reduction of supply as a consequence of a disruption in the world oil markets b) The implementation of a minimum wage c) The implementation of taxes to manufacturing of cars in Australia d) The implementation of a Carbon tax in the economy. A Carbon tax is charged according to the level of emissions of greenhouse gases in an economy. e) The implementation of a new loan program to university students in the education sectorplease give me correct answer and don't reject of this question otherwise i complain to bartelby
- In a general equilibrium allocation, the real wage can exceed the workers’ marginal product of labor. Explain why this is true or false.GAn editorial in The New York Times about the state of the schools in Washington, DC: "The imbalance is particularly disturbing, given that the District's children fair worse at school than children in other big cities."
- According to John Rawls, the welfare of society only depends on the welfare of the ------------ household. Fill in the BlankComplete the following table by selecting the redistributive philosophy that matches each statement. Statement Utilitarianism Libertarianism Liberalism The government should punish crimes and enforce voluntary agreements, but not redistribute income. The government should choose policies to maximize the total utility of everyone in society. The government should choose policies deemed to be just, as evaluated by an impartial observer behind a "veil of ignorance." Suppose that Clancy believes that the government should aim to raise the welfare of the poorest people in society, because if we all started in the exact same position in life and then created rules and laws to obey as a society, people would be concerned about ending up at the bottom of the income distribution. Which redistributive philosophy is consistent with Clancy's view? O Liberalism O Libertarianism O Utilitarianism