Plot the indifference curves in the consequence space and calculate the MRS for: value function 1 = w^2 - c^2 value function 2 = w - c + (w/c)

List two methods that can be used to address theissue of Multicollinearity

A small community has 20 people, each of whom has a wealth of $12,000. Each individual must choose whether to contribute $300 or $0 to the support of public entertainment for their community. The money value of the benefit that a person gets from this public entertainment is b times the total amount of money contributed by individuals in the community.  Question 3 options: If 20b > 1, everybody is better off if all contribute to the public entertainment fund than if nobody contributes, but if 20b < 1, everybody is better off if nobody contributes than if all contribute  Everybody is worse off if all contribute than if nobody contributes if b > 1, but if b < 1, everybody is better off if nobody contributes.  This game has a dominant strategy equilibrium in which nobody contributes anything for public entertainment. If 20b > 1, there is a dominant strategy equilibrium in which everybody contributes.  In order for there to be a dominant strategy equilibrium in which all…

Suppose a US medical board is using marginal analysis to determine the optimal screening frequency for a specific disease. Below is the approximate number of early cases detected as you expand testing to a broarder population. Suppose further that each early detection case is considered to have a benefit of $50,000 and the cost of screening one person is $20,000. Number of people Total Number of screened in a Early Detection given a year Cases 1,000 500 2,000 1000 3,000 1400 4,000 1700 5,000 1900 The marginal benefit to screening 2 thousand people is, and 3 thousand people is 500 early detection cases ($25,000,000); 400 cases ($20,000,000) 1000 early detection cases ($50,000,000); 1400 ($70,000,000) early cases O 1400 ($70,000,000) early cases; 1000 early detection cases ($50,000,000) 400 cases ($20,000,000); 500 early detection cases ($25,000,000) P

Distinguish among private efficiency, social efficiency, social welfare, and sustainability. Nuclear plants in countries store used uranium fuel and radioactive wastes outside the plant, most often in steel-lined concrete pools. Evaluate this practice according to each of the four criteria.