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Explain fully how a tax or subsidy affects the market. Explain how higher taxes do not necessarily raise more revenue as demonstrated by the Laffer curve.
Explain how increasing returns to scale in production can be a basis for trade. If the foreign export supply is perfectly elastic, what is the optimal tariff that Home should apply to increase welfare? Explain. If the foreign export supply is less th..
Illustrate what role does comparative advantage play in trade among member nations
Determine what are some of the philosophies that influenced Latin America? In what way did they impact the cultures of Latin America?
At what price of food in terms of manufactures would A and B respectively supply food? Would trade take place between A and B in David Ricardo’s world? How many manufactures could B supply?
Micro surfacing is part of a pavement restoration and maintenance program that seals the surface of a street that has minor cracking to prevent water from penetrating into the base material. The annual cost of the equipment (truck, tank, valves, etc...
Illustrate what is the value of goods and services purchased by the government of Numidia.
Most business in the U.S. is conducted by corporations, and corporations popularity results primarily from their favorable tax treatment.
What is an accounting identity? The account identity that is used to estimate the gross domestic product of a country is given by. What important factors do GDP estimates leave out? (check all that apply) Which of the following news stroies (all publ..
To pay for these paths, it then taxes Andrew, Beth, and Cathy the prices a+b+c=MC. If the taxes are set so that each resident shares the cost evenly (a=b=c), explain how many paths will get built.
“Dams ‘R’ Us” operates a major hydropower dam on the Klamath River in Oregon. In the event of dam failure, there would be major damages to local communities. The company can reduce the probability of failure through proper maintenance of the facility..
Illustrate what is the minimum efficient scale for each technology. Illustrate what if it was more optimistic about summer sales.
If the value of M increased from 50,000 to 60,000 also nothing else changed which would equilibrium price increase or decrease. Would the equilibrium quantity increase or decrease.
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