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In 2006, the European Union tariff on imported bananas from Latin America was €176 a ton. Suppose 2.5 million tons of bananas were imported in 2006 but then the tariff decreased to €152 a ton in 2007 and as a result, 3 million tons were imported in 2007. What is the tariff revenue in 2007?
a. €440,000,000
b. €528,000,000
c. €375,000,000
d. €456,000,000
(a) What kind of utility function does Quasimodo have? (b) If the price of x is p and price of money spend on other goods (y) is 1, then what is his inverse demand curve for earplugs?
Entrepreneur edward is planning to open a business selling ice cream.He wants a report outlining five specific events that can be expected to cause the equilibrium price of ice cream to increase.
Suppose that technophiles are willing to pay $400 now for the latest iPhone, but only $300 if they have to wait a year then compute the optimal pricing scheme of the iPhone.
A firm sells 1000 units per week. It charges $70 per unit, the average variable costs are $25, and the averagecosts are $65. At what price would the firm consider shutting down in the short run?
ECO 201 Unit 4 Homework Assignment. Assignment Direction At the end of each chapter is a section titled "Key Concepts", and next to each concept is a corresponding page where you will find its definition. Please expand on the text's given definition,..
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The problem is related to economics and it is explains what's left of National Income after Households Consume and the Government Spends (S = Y - C - G). And, we know that National Income equals GDP (Y = C + I + G + NX).
How did the policies for manufacturers of automobiles evolve? For example, what influences do the following organizations have on business owners, and what is their history?
What policy rule do monetarists believe the Fed should follow? What are the major assumptions underlying this policy prescription?
A software firm earned ten million this year. Suppose the growth rate of the software firm and the interest rate are both constant and the software company will be business for years to come.
What do economists mean when they say that the price system (free markets) promotes economic efficiency When are free market arrangements "inefficient" from an economic point of view Why is income inequality "efficient" from an economic point of v..
Explain how Germany OR Denmark has sought to have both some elements of security and flexibility in their labour markets. How far have these policies implemented the EUs principles of flexicurity?
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