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Ugula sells rubber band in the domestic market. Their equilibrium price is $10. Ugula does not have competitive advantage in the production of rubber band. 1) Ugula now allows free trade. illustrate and explain what happen. 2)if a tarriff were put into effect?
The orange growing industry in Florida is perfectly competitive, and each producer has a long-run marginal cost curve given by MC(Q) = 20 + 2Q. What is the long-run equilibrium price in this industry, and at this price, how much would an individual f..
Graphs are normally two dimensional in their use of an x and y axis. What advantages do multi-dimensional graphs have in terms of using three dimensional representations (x, y and z graphs or even additional axis representations) and do these present..
GoPro holds a monopoly in two countries where it sells video cameras, USA and Canada. The demand functions for the two regions are, GoPro has a unique manufacturing process where it can produce each video camera for $20. Assume there are very strict ..
Compute most favorable output also profit for each firm and the market price. Also, compute the resulting profit of cartel.
Economic laws are established in order to make successful prediction of the outcome of human action.
Income from a certain operation is expected to be zero in years, one through three, after which and beginning at end of year 4, it will be $60000 per year forever. The capitalized cost, now of the income stream above at 10% per year is :
Consider the distributional effects of agricultural productivity due to global warming. Discuss some of the ramifications this outcome would have on regional economies, national economies, and world trade.
A company borrows $100,000 today at 12% nominal annual interest. The monthly payment of a 5-year loan is most nearly? A tractor cost $7,500. After 10 years it has a salvage value of $5000. Maintenance costs are $500 per year. If the interest rate is ..
Output Variable Cost 0 $ 0 1 $ 5 2 $ 9 3 $12 4 $16 5 $22 6 $30 7 $40 8 $52 9 $67 10 $90 Given the above variable cost data and assuming fixed costs equal the value of the last two digits of your MDC student ID, create a file using Excel that lists Ou..
Equivalent to selecting the output where the spread between total revenue and total cost is greatest.
The inverse demand function for bean sprouts were given by P(Y)=290-4Y , and the total cost of producing Y units for any firm were TC(Y)=50Y and if the industry consisted of two Cournot duopolists, then what is the equilibrium of each firm's producti..
Income inequality and poverty affect us in many ways we may not think about. Gregory W. is a homeless man in Louisiana who was arrested for stealing food from a grocery store. What would be a fair way to hold this man accountable for his theft? When..
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