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If you look at what China and India's tariffs are, they are no where near to what the tariffs are in the United States. What do I mean by that? -- The tarries to import something from China into the United States is EXTREMELY low. However, importing something from the United States into China is 10x or 20x more. In your opinion, do you believe that this is fair?
Explain the difference between normative and positive economics. Determine which of these statements are normative and which are positive and explain why you place them in the normative or positive category.
If a producer offers a price that is below a consumer's valuation of the good, the consumer:
Supposes airline industry consisted of only two firms: American and Texas Air Corp. Let two firms have identical cost function, C(q) = 40q. Assume that demand curve for industry is given by P=100-Q and that each firm expects or to behave as a Cou..
Elucidate how you would address each of the main problems in the organization.
What are the equilibrium price and quality? What is the market outcome if the price is $2.75? What do expect to happen? Why? What is the market outcome if the price is $4.25? What do expect to happen? Why? What are the equilibrium price and quality i..
In recent decades, trade has been growing faster than income for many countries. What combination of trade effects is sufficient for this to come about? Is this behavior consistent with the Rybczynski theorem? Under what circumstances?
We’ve seen that monopolistically competitive firms will try to differentiate their products in order to eliminate substitutes. Are there comparable measures that can be taken in labor markets to decrease the number of “substitutes” for some types of ..
Aggregate demand and aggregate demand curve. The three reasons that explain the downward slope nature of the AD curve. Please list some factors that shift the AD curve to the right or left. Please explain why the SRAS curve is upward sloped and LRAS ..
What are the effects of taxes on price level? Why?. In your opinion, do taxes lead to efficiency or inefficiency?. How does a free market eliminate a surplus?
If fixed costs increase to $1200, what will happen to equilibrium price and quantity.
Now Assume the theater increases the number of its ads to 250. Should the theater increase its cost following this ad campaign.
Which of following is true of monopoly and not of perfect competition?
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