Q: In 1848, the idea of cost-benefit analysis originated with
In 1848, the idea of cost-benefit analysis originated with a French engineer by the name of Jules Dupuit. Economists argue that underlying calculations of costs and benefits must be based upon actual...
See AnswerQ: To measure public project desirability, positive and negative aspects of the
To measure public project desirability, positive and negative aspects of the project must be expressed in terms of a common monetary unit. Explain the importance of the present value concept in benefi...
See AnswerQ: The former chairman of the Federal Communications Commission heralded Voice over Internet
The former chairman of the Federal Communications Commission heralded Voice over Internet Protocol, or VoIP, as “the most important shift in the entire history of modern communications since the inven...
See AnswerQ: “Regulation is often proposed on the basis of equity considerations and
“Regulation is often proposed on the basis of equity considerations and opposed on the basis of efficiency considerations. As a result, the regulation versus deregulation controversy is not easily res...
See AnswerQ: Air pollution costs the U.S. billions of dollars per
Air pollution costs the U.S. billions of dollars per year in worker absenteeism, healthcare, pain and suffering, and loss of life. Discuss some of the costs and benefits of a Pigou tax on air pollutio...
See AnswerQ: What role does the price elasticity of demand play in determining the
What role does the price elasticity of demand play in determining the short-run effects of regulations that increase fixed costs? What if they lead to increased variable costs?
See AnswerQ: Is the large publicly traded corporation in eclipse? Some say yes
Is the large publicly traded corporation in eclipse? Some say yes. Harvard financial economist Michael Jensen, for example, argues that the experience of the past 2 decades indicates that corporate in...
See AnswerQ: What is the essential difference between public and private goods? Give
What is the essential difference between public and private goods? Give some examples of each and some examples of goods and services that involve elements of both.
See AnswerQ: In the 1880s, cattlemen in the American West crowded more
In the 1880s, cattlemen in the American West crowded more and more animals onto common grazing land to feed a growing nation. Cattlemen contended, “None of us knows anything about grass outside of the...
See AnswerQ: Perhaps the most famous early econometric forecasting firm was Wharton Economic Forecasting
Perhaps the most famous early econometric forecasting firm was Wharton Economic Forecasting Associates (WEFA), founded by Nobel Prize winner Lawrence Klein. A spin-off of the Wharton School of the Uni...
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