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What were the advantages and dissadvantages of cotton and how is it different from back then to now?
Consider a market with demand P(Q) = 108-2Q in which two rms compete. Firm 1 faces TC1(Q) = 48Q and rm 2 faces TC2(Q) = 36Q.
q1. suppose your elasticity of demand for your parking lot spaces is -2 and the price is 8 per day. if your mc is zero
Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country’s government on (i) the home country’s consumers of Y, (ii) the home country’s producers of Y, and (iii) the home gover..
Imagine two economies. In one, economy A, technological improvements are rare, and the basket of goods and services that households consume is essentially unchanged from one year to the next.
In a recent speech, the governor of your state announced: “One of the biggest causes of juvenile delinquency in this state is the high rate of unemployment among 16 to 19 year olds. The low wages offered by employers in the state have given fewer tee..
Tort law permeates society and daily life. Think of a tort issue in your life or in the life of someone close to you. Describe the issue. Perhaps you did not pursue litigation, but after your knowledge in this class, do you think you should have? Per..
Suppose that the Mexican Peso is trading at 10 pesos per dollar, the interest rate in the US is 5% and the interest rate in Mexico is 4%. What must happen to the exchange rate in order for the interest rate parity condition to hold?
q1. megan used to work at the local pizzeria for 15000 per year but quit in order to start her own deli. to buy the
Suppose the government imposes a price ceiling of $50 on a market characterized by the following information: Calculate the magnitude of deadweight loss from the price ceiling. Find a price floor that will result in the same magnitude of deadweight l..
Economic formulas are available to compute annual payments for loans. Suppose that you borrow an amount of money P and agree to repay it in n annual payments at an interest rate of i. Write an M-file to compute A. Test it with P=$100,000 and an inter..
What are the characteristics of perfect competition? Why do restaurants tend to display characteristics of perfect competition and what are the long-run benefits of running a restaurant, considering its place in the perfect competition?
What are the three reasons that a market might have a monopoly? Give an example of each. Is creating a government-created monopoly necessarily bad public policy? Explain.
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