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Each year, consumers in a small country purchase 1 million pounds of sugar at the global price of $1.50 per pound. Domestic firms produce 500,000 pounds and domestic consumers imports the remainder. Policymakers of the world's major supplier of sugar begin an export-subsidy program that rewards firms for exporting sugar. This program causes the global price of sugar to drop to $1 per pound. The domestic quantity demanded in the small country climbs to 1.3 million pounds, and the domestic quantity supplied falls to 300,000 pounds.
Draw a diagram of the small-country market for sugar under free trade, and with the export subsidy in place.
Find the consumers’ surplus at a price level of p = $15 for the price demand equation p = D(x) = (7500 - 30x)/(300-x). Graph the price demand equation and the price level equation p = $15. What region represents the consumers’ surplus?
“Once we recognize that product differentiation is the basis for much international trade, there are likely to be more winners and fewer losers in a country when the country shifts from no trade to free trade.” There may be several reasons why this s..
A company offers $2.5 million for the rights to a patent. If the patent can bring in $500,000 in royalties over the next six years, should the offer be taken? Assume an interest rate of 6% per year.
Group Marginal Product Cost of Education Proportion of population. Formally describe the employer''s beliefs in probabilistic terms and the wage schedule that would be offered based on these beliefs. What are the optimal educational choices for high ..
q1. suppose that disposable income consumption and saving in some country are 200 billion 150 billion and 50 billion
The fact that millions of jobs are created and destroyed every year is a sign of. Who would be hurt by unanticipated inflation? If the Consumer Price Index was 110 in one year and 117 in the next year, then the rate of inflation from one year to the ..
How might your elasticity of demand for copying and binding services vary if your work presentation is next week versus in two hours?
Suppose the real side of an economy is characterized by: Y = 80K1/2 L1/2 K=100 and L= 100 G = 3000 T = 3000
What are the possible sources of ingredients information? Describe how each of the sources will help you in getting the needed information for project ingredients.
individual industry like education, meat industry, tourism and agriculture. Choose any ONE industry in Australia from this list and discuss the reforms been done in that industry.
The federal government provides a number of subsidies to the oil and gas industries. In defence of the subsidies, a spokesman for the industry observed “some alleged subsidies don’t even go to the industry.”
Hiro Nakamura is CEO of the Cola King Bottling Company, a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
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