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China is a major producer of grains such as wheat, corn, and rice. In 2008 the Chinese government, concerned that grain exports were driving up food prices for domestic consumers, imposed a tax on grain exports. Label areas on your graphs with the letters A, B, C... like we did in class to ensure clarity in your answers.
Draw the graph that describes the market for grain in an exporting country. Use this graph as the starting point to answer the following questions.
How does an export tax affect domestic grain prices?
How does it affect the domestic consumers' surplus, producers' surplus, and government revenue?
What happens to total surplus in China, as measured by the sum of consumer surplus, producer surplus, and tariff revenue?
If the multiplier is 4, by how much should Autonomous Consumption (C0) change to increase the level of Real GDP to reach full employment?
A firm uses two inputs, X and Y and its production function is Q = ?(xy), where here we are using x and y to represent the quantities of the two inputs. (f) What is the firm’s marginal rate of technical substitution of X for Y, at the point where it ..
Explain how a price control on a monopolist can be used to lower the deadweight loss. What kind of price control (ceiling,floor) would it need to be?
Elucidate this linkage in words also after that illustrate with a Cumulative Demand - Cumulative Supply diagram.
As people consume more and more of a particular good or service, we can predict that a. Marginal utility of each additional good consumed will fall and total utility will increase, but more rapidly than before
Describe the following techniques or terminologies used in cloud computing and cloud services. Use a concrete example cloud or case study.
Identify four different types of Regional Trade Agreements (RTAs). 2. Examine the European Union (EU) and its current state. Discuss how the EU is related to RTAs. 3. Discuss the benefits and negative aspects of using a common currency.
Suppose a uniform pricing monopolist’s price equation is P(Q) = 100 – 2Q; the uniform pricing monopolist’s marginal revenue is MR(Q) = 100 – 4Q; the uniform pricing monopolist’s total cost is C(Q) = 2Q2 + 12Q + 50; and the uniform pricing monopolist’..
What is the revenue cycle and why is it important to healthcare organizations? Please include key measures for a successful revenue cycle process.
Suppose a country has had a high and relatively stable inflation rate for a long time. How might this affect the costs and benefits of inflation reduction?
Why would the money supply increased rapidly was inflation relatively low during the recession of 2007 2009 and its immediate aftermath?
Suppose that wages per week in country A (a poor country) which consists of 4 people are $1, $8, $25 and $40, while in country B (a rich country), which also has 4 people, the wages are $120, $500, $1200 and $3500. Question: In which country is th..
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