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Suppose that a government that is the sole buyer of a crop offers farmers $2.00 per ton of maize (corn), while the market price across the border is $2.50 per ton. What will be the impact on the production of maize? Will it affect the production of other crops? Will the government likely be able to buy all the output?
A reporter contacts you to comment on a report that manufactureres of widgets are colluding. You study the widget market and estimate that the elasticity of demand at the market price is about -0.5. What do you tell the reporter about the collusion?
Discuss the economics of Franks question - Why is milk sold in rectangular containers, while soft drinks are sold in round one
What role do proper rights play in creating common property resources? Why are common property resources subject to market failure due to non excludability?
What are the three macroeconomic goals? Find an article that shows a connection between a current event and two of the three macroeconomic goals.
Shall Hong Kong introduce sales Tax - What will be the effect of general sales tax on Hong Kong financial market and economy
Which interest rate represents the opportunity cost of holding money - the real or the nominal interest rate? Explain and argue intuitively why the nominal interest rate (eg, the yield on a riskless bond) cannot fall below zero.
1. if the hhi for the widget industry is 1200 then the market structure isa. impossible to determineb. an oligopoly.c.
1. economists are fond of saying that there is no free lunch. what concept supports this belief?2. name two opportunity
For several years, advertisements for Arm & Hammer Baking Soda have prompted consumers to place an opened box of the product in the refrigerator to lessen food odor and to replace that box monthly. The same ads advise customers to pour the used bo..
Like supermarkets, full-service department stores like Macy's are generally in decline. What factors might these types of stores have in common behind their declines How would you determine which were important and which were not
For automobiles BWC sells chrome wheels for automobiles. At a price of $600 per set, they sold about 900 sets per month. Illustrate what is the arc price elasticity for this product.
What is national saving? What is private saving? What is public saving? How are these three variables related?
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