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Describe both quotas and tariffs. How do they impact domestic prices and deadweight loss? How does an import quota differ from an equivalent tariff? What is best for a nation as a whole: a tariff, a quota, or free trade? Explain your answer.
Using the ideas of marginal costs and marginal revenues, describe why economic profits are maximized where marginal revenue equals marginal cost and why profits decline if price is above or below the profit maximizing price.
What is the key assumption needed to show how one can construct a numerical utility function out of just a preference ordering? Don't just draw a picture; explain what the assumption means and apply it to show how to construct that numerical util..
Jonathan a two-and-a-half-year-old, lives with his mother and brothers at his grandmother's house in Chicago.Based on the information in Jonathan's case study,what is Jonathan's rate of growth over the past six months.
assume that the banking system has no excess reserves. the combined balance sheet of all chartered banks is in million
1. a firm has the following production functionq lk.the firm wants to produce a target output level of q200. the
here is a procedure you can use when developing a regression model.nbsp regression methodology1 collect data.nbsp this
Provides a background commentary on the cost structure and the level of competition experienced by your firm/industry. You must include demand and supply factors, fixed and variable factors/costs, price elasticity and the aims of the firm/industry..
Apple recently launched the iPod nano under 2-different versions:2GB and 4GB. There are two types of customers of the iPod nano.
You will be drafting a power of attorney giving this person the right to act as your "agent" on your behalf for all matters involving the listing, sale and closing of your house. Make a list of the provisions and considerations you want to be cert..
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
How long will it take for your money to double? Show your calculations. You are not allowed to use any approximation formulas, such as the "rule of 70". Round your answer to 5 decimal places.
The steady increase in demand for home computers has resulted in the massive increase in demand for web access, yet, the price of access has been steadily declining.
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