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What is the effect on the economic well-being of a nation when a tariff is imposed? Consult a newspaper and identify an industry where there currently is a tariff. What is the effect of this tariff on the U.S. economy?
Identify the fallacy in the following discussion: "The effect of an excise tax on a commodity might seem at 1st sight to increase the value that buyer pay.
What happens in the market for oranges if there is a hurricane that destroys the orange crop and explain why is strategic interdependence important for market structure of oligopolies?
Suppose you are an Executive Chef at a private hotel on the beach in Florida, with sixty rooms; a banquet facility serving up to 175; a coffee bar in lounge, which also provide complimentary cold breakfast;
Describe why the following is an example of monopolistic competition: There are a number of fast-food restaurants in town, and they compete fiercely.
WHAT FACTORS AFFECTED NATIONAL INCOME, UNEMPLOYMEY RATE AND INFLATION RATE WHAT FACTORS EFFECT EACH OF THESE ECONOMIC VARIABLES?
Assume a market is characterized by a unionized and a non unionized sector. Both sections initially have supply given through Q=10,000+25w, and demand by Q=20,000-10w, where w is weekly salary.
What is the maximum amount of harvest that can be sustainably achieved in this system? What level of biomass generates this amount of harvest?
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
The French government has recently increased the retirement age, a decision which is opposed through a large fraction of the French public, especially in students
Calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum wages). Is this a welfare gain or a loss?
Determine the price, income and cross price elasticity of demand and how would you characterize the demand for haddock?
Describe how a firm's microenvironment can determine how profitable it will be? Provide examples of organizations as well as aspects of their microenvironment which have hindered or benefitted growth.
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