When do competitive firms maximize profit?

In 2011, a tsunami along the Japanese coast damaged nuclear power plants that leaked dangerous radiation into the surrounding population. If this leakage could have been prevented, given a disaster of this level, which answer would be a Coasian solution to this externality?

Use the following to answer question 24. Which of the following statements are true? I. If the US bans the importation of bananas, consumer surplus will decrease. II. If the US bans the importation of bananas, domestic producer surplus will decrease. III. If the US bans the importation of bananas, it will produce bananas at a cost exceeding their world purchase price.

Ted Mosby is considering leaving his job at a prestigious architecture firm, where he earns an annual salary of $80,000, to start his own independent architecture practice. To get started, Ted can withdraw $20,000 from his savings account (which earns 5% annual interest) to rent an office space and purchase equipment. In his first year of running his own business, Ted can earn $100,000 in revenue but incur $30,000 in explicit costs (for rent, office supplies, and marketing). Ted’s accounting profit is _______, and his economic profit is _______. Based on this information, should Ted keep his job at the prestigious firm, or should be start his own business?

Suppose a country imposes a quota on imported automobiles. Which of the following is a likely outcome?

After leaving his job as a lawyer for Goliath National Bank, Marshall joins a boutique environmental law firm in New York City, where many top environmental lawyers and firms are concentrated. To stay competitive, he regularly attends local legal seminars, where he and other lawyers exchange new legal strategies, precedent-setting case insights, and best practices for handling environmental lawsuits. As a result, Marshall’s firm becomes more efficient and lowers its costs, even without hiring more lawyers or increasing its spending on research. What economic concept best explains this phenomenon?

Princess Peach of the Mushroom Kingdom has decided to centrally manage the economy to ensure that resources are allocated “fairly.” A council of advisors determines where power-ups, coins, and extra lives should be distributed, believing they can direct them to the areas of greatest need. However, problems arise—some regions have an abundance of Super Mushrooms but no Fire Flowers, while others have plenty of coins but no 1-Ups. Meanwhile, the kingdom’s fastest runners complain that warp pipes are being placed inefficiently, slowing travel between regions. What fundamental problem of central planning does this scenario best illustrate? ​

Figure: Market for Cigarettes A highly effective book on quitting smoking has become a best-seller, making it much easier for smokers to quit. As a result, the market demand for cigarettes has shifted.  Using the graph provided, answer the following: Which curve represents the new market demand for cigarettes? With a $1.50 per-unit tax on cigarettes in place, how much of the tax is borne by consumers before and after the shift in demand? What is the change in total government tax revenue due to this demand shift? ​

An older adult in a long-term care facility has decreased oral intake over 2 days. Which signs and symptoms of dehydration should the nurse assess for in this patient?  

27. The patient has a potassium level of 2.0. The Health Care Provider prescribes digoxin 0.125 mg IV now. What is the most appropriate action for the nurse to take?