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When the United States placed a temporary price floor on tomatoes imported from Mexico, U.S. trade representative Mickey Kantor said, "The agreement will provide strong relief to the tomato growers in Florida and other states, and help preserve jobs in the industry." What costs did Americans bear from the price floor?
c) Compute the elasticity of supply with respect to technology. d) Compute the elasticity of supply with respect to wage rate. e) Based on the elasticity of supply with respect to wages, what would happen to supply if the average wage increased fro..
$120 per month for cell phone service,other service $1 per minute . QD=150-50ρ, where ρ is the price of a minute a. what the cost of extra minute for each provider. b.how many minute uses with each provider.
consider the joint density2xy if 0ltxlt1 and 0ltyltxfxy xy 0 otherwise1. calculate fxy 0.50.52. calculate fx 0.53.
why was the switch to a market economy expected to lead to increased incomes?
suppose that firm 2 acts as a price leader and can commit in advance to setting its price once and for all. In turn, firm 1 will react to firm 2 s price, according to the profit-maximizing response found earlier, P1=52.5+.25P2. In committing to a ..
Write down the firms problem in the long-run. Note the price for capital and labor are respectively, r and w. (Normalize the price of output to be 1 so that w and r are in real terms). (b) Does this production function depict constant return to sca..
Now suppose that people with similar incomes are more likely to get married than people with dissimilar incomes. How would this change affect the Lorenz curve drawn in part a?
how might citizen attitudes toward local government taxes and spending be different from attitudes toward the federal government?
The oligopoly firms have contant marginal costs at MC = 40 Calculate the upper and lower limits within which marginal cost may vary without affecting the profit maximizing outpt or the price.
Give two examples of changes that would lead to an increased demand for dollars and two examples of changes that would lead to an increased supply of dollars in the foreign exchange market.
Create your response, in the Assignment submission box below (not in the Comments field), as a journal or diary entry. Researching the musical Hair most likely will be needed
Assume that output per unit of labor is related to the capital-labor ratio by yt = r log(kt); and that saving is a fixed proportion, s, of output.
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