Reference no: EM131009839
1. Why are some products elastic and some inelastic?
2. Why do some businesses charge consumers different prices for the goods? ( I.e. airlines,autos)
3. As the manager of a store, why would you be concerned about the elasticity of a product when you are considering a price change?
4. If the price of an inelastic good goes down, what happens to demandthat good? Would this have a positive or negative effect on sales?
5. What is comparative Advantage? What role does it play in international trade?
6. Name and explain two sources of U.S. comparative advantage.
7. What effect does currency depreciation / appreciation have on a appreciation have on a coconut export trade.
8. Define and give an example of the resource curse.
9. State two differences between a tariff and a quota.
10. What is dumping and why was it made illegal?
|
Affect aggregate output and the price level
: Using aggregate supply and aggregate demand analysis, discuss how the following will two events affect the aggregate level of output and the price level in the economy. Use just a SRAS curve (not the LRAS). You need to determine whether the AD or SRA..
|
|
Differs from generally accepted accounting principles
: The city prepares its annual appropriated general fund, debt service fund, and proprietary operating funds budgets on a basis (budget basis) which differs from generally accepted accounting principles (GAAP basis). Prepare all journal entries, consis..
|
|
The cost function of a single-product firm
: An economist estimated that the cost function of a single-product firm is: C(Q) = 50 + 25Q + 30Q2 + 5Q3. Based on this information, determine the following:
|
|
Define and give an example of the resource curse
: Why are some products elastic and some inelastic? What effect does currency depreciation / appreciation have on a appreciation have on a coconut export trade. Define and give an example of the resource curse. State two differences between a tariff an..
|
|
Differentiation in monopolistically competitive
: "If the amount of product differentiation in a monopolistically competitive industry is very small, the outcome in that market will not be very different than if it were a perfectly competitive industry." Please explain.
|
|
Explain the likely effects on demand and supply
: For each of the following cases, explain the likely effects on demand/supply, use demand and supply analysis to show the effect on equilibrium interest rates (increase or decrease), other things being equal. Federal government borrows to finance budg..
|
|
Compute the expression for price elasticity of market supply
: Consider the following market supply: QS = c, where c is a constant and c > 0. At price P = 0.5(a/b), the absolute value of the price elasticity of this market supply is [e]. (NOTE: Write your answer in number format, with 2 decimal places of precisi..
|
|
What percentage above cost should it markup its price
: A firm with pricing power (i.e. a price-maker) estimates that the elasticity of demand for its product is __A___. To maximize profits by what percentage above cost should it markup its price? (Show your work).
|