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Unformatted text preview: DEPARTMENT OF ECDNDMIES MAY 5. 21105 SAN JOSE STATE UNIVERSITY 15:30 PM. TD 9:30 PM. MASTER‘S COM P‘REHENSIVE EXAMINATION PROCTER: J. HUM MEL INST RU CT IONS: firfiwerDN LY the specified number of quesliorfi from the oplions provided in each section. Do not answer more Illan the required number ofquestions. Your answers Jurist he on the paper pmvided. No room Ihsn one HIE-WET per page. Do not answer two questions on the same sheelof paper. If you use more than one sheet of paper for a question. write “Page I of 2“ and “Page 2 of 2." Write ONLY on one side ofesch sheet using onlyr pen. Answers written in pencil will be disqualified. Write — END — at Ihe end of each erwer. Wrile. your4-digit identificalion number in [he upper right-hand corner of roach sheet of paper. Write the question number in the upper right land corner of each sheet of paper. Section 3: Applied Economics—Answer Any Two Questions. m 3A.. Explain the nature and significance of Fiscal lmpact Analysis. Suppose a housing development is proposed in an area. Given the builder‘s schedule of housing construction [number of houses, type1 value) explain how the fiscal impact of the project would be determined. If the project had a negative fiscal impact what implication would that have for the authorities who have the power to approve or disapprove the project? SB. 1With the aid of diagrams contrast the response of a monopon to an excise tax with that of a competitive industry1 assuming linear demand and constant per unit cost. Suppose we postulate a constant elasticity demand, will there be any difference in the nesponse'!I Explain your answer. 3C. First, define market power in words with the aid of an example. Second, pick three of the following paired concepts. For each choice write a brief essay comparing the two items with each other [e.g., definitions, applications, examples, etc.)- and explaining how they relate to the issue of market power: {a} Rothschild Index vs. Lerner Index (diagrams please}. [b] Herfindal'rl—Hirschman lndex vs. Concentration Ratio. {c} product market vs. geographic market. [d] barriers to entry vs. barriers to exit. {e} product differentiation vs. standardized product {diagrams please]. [f]- raising rivals' cost vs. exclusive dealing. Copyright 0 HIM-2005 San lose. State University Department of Econo mime. all righls reserved. ...
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