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The United States is considering adopting a regulation that foreign apples can be imported only if they are grown and harvested using the same techniques that are used in the United States. These methods are used in the United States to meet various government standards about worker safety and product quality. As a representative of the U.S. government, you are asked to defend the new import regulation before the WTO. What will you say? As a representative of a foreign apple grower, you are asked to present the case that this regulation is an unfair restriction on trade. What will you say?
This concept has many applications in economics and in other sciences. One application in economics is the price elasticity of demand that measures how sensitive consumer demand is to the change in the price of a product or service. Do you think it i..
Suppose a Canadian firm imports $1000 worth of bananas and sells them for $2000. What is the effect on Canadian GDP?
Suppose we only use labor in a production run. How do we determine the optimal level of labor input in the short run? In other words what condition must be met
Positive economics deals with
Explain using diagrams whether monopoly is socially preferred market structure to the perfectly competitive market in the presence of negative externality
Alter the Solow growth model so that the production technology is given by Y = zK, where Y is output, K is capital, and z is total factor productivity. Thus, output is produced only with capital. Show that it is possible for income per person to grow..
Identify the organizational change process steps you would take and prioritize the order in which you would take them.
What would be the socially optimal number of firms if F = 0? What does this suggest about the likelihood of F = 0? What is the role of F in determining the optimum number of firms? The delivery cost?
Under the guidance of a good manager, a monopolistic ally competitive firm spends an optimal amount of its revenues on advertising. Last month the firm spent $2,500 of its 510,000 revenues on advertising. If its advertising elasticity was 0.5, what w..
A consumer's reservation price is the price at which a:
q1. alexs furniture mart produces and sells tables in a perfectly competitive market. when alexs furniture mart
Household production consists of. The deportation of illegal aliens may create jobs on a one-to-one basis for native workers if
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