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"List an example of a country that practices free trade, a country that has trade barriers, and a country that has combination of the two."
Consider the development of the trade routes of Afro-Eurasia (Indian Ocean, Silk Road etc). Then consider the development of the Atlantic System and other emerging global systems. What were the changes in systems of thought, economics and technologie..
Assume that a corrective tax is placed on aircraft passing over a residential area that is located near an airport. Should the proceeds of the corrective tax be used to compensate those who are harmed by the aircraft noise? Explain.
Consider a Cournot duopoly model with inverse market demand function p = 60 - q1 - q2. Firm i's cost function is (qi)^2+10qi for i = 1 and 2. Find the Nash equilibrium outcome ( firms' outputs). Find the collusive outcome ( firms' outputs), and show ..
Which of the following would not occur as a result of a monopolistically competitive firm suffering a short-run economic loss?
In a production run of 1000 parts, how many defects would be found (to the nearest whole number)? What is the advantage of reducing process variation?
Where Q is the number of cuts per week and P is the price of a hair cut. Terry is considering raising her price above the current price of $15. Terry is unwilling to raise price if the price hike will cause revenues to fall. Should Terry raise the pr..
Would existing residents win or lose from the decision not to build new infrastructure? Consider this question in terms of:
Discuss strategic alliances. How successful are they? Why do firms form strategic alliances? Compare and contrast licensing agreements and franchising agreements. Imagine that you are meeting with your superiors to discuss entering a foreign market. ..
Suppose demand for a good is QD = 50 - P and supply is QS = -10 + P. How much is the producer surplus? How much is consumer surplus?
Many banks have been trying to push their customers away from checkable deposits and even savings deposits into small time deposits. Given the characteristics of these assets, why might banks want to do this? Consumer mortgages are a type of bank loa..
An equipment rental firm purchased a new scissor lift to add to its rental fleet. The scissor lift cost $18,000 and is expected to have a useful life of 4 years. The salvage value at the end of the lift's useful life is estimated to be $4,000. determ..
Using the graph and definitions below of the supply of loanable funds, SLF, and the demand for loanable funds, DLF, discuss the following: What is meant by the equilibrium nominal rate of interest? Starting from an equilibrium position as in 1.a, dis..
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