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Assume that the world market for producing radios is monopolistically competitive. Suppose that the price of a typical radio is $25.
a) Why is this market likely to be characterized by two-way trade?
b) Suppose that Country A levies a tax of $5 on each radio produced within its borders. Will radios continue to be produced in Country A? If they are, what will happen to their price? If they are not, who will produce them?
c) If you concluded that radios will continue to be produced in Country A, explain what will happen to their price in the short run. Illustrate your answer graphically.
d) What will happen to their price in the long run?
Mike spends all his money on Jelly Beans and Gummy Bears and these two products are perfect substitutes for Mike. A few of Mike’s indifference curves are shown in the figure below. The dark line L is Mike’s budget line at current prices.
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What might happen to the value of the US dollar, the US economy, and the trade relationship between the two countries if China was experiencing.
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q1. is it advantageous for all countries to utilize cheaper labor or does importing your goods back to the u.s. still
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Granny Butter and lugs Inc, pay an effective tax rate of 40% Granny is considering the purchase of a new churn for $28,000. this churn is a special handling device for food manufacture and has a savage value of $7,000 at the end of its estimated 4-ye..
Consider a firm with the following total variable costs (TVC). If the firm has already purchased the equipment, answer the following: (i) if the firm chooses to operate, what is its best possible output?
Consider the bathtub model of unemployment. Let E= 45 million and U= 15 million. If in the next month, the job separation rate is equal to 0.04 and the job finding rate is 0.3, what is the number of unemployed individuals next month?
If her car is totaled in an accident, her wealth will be reduced by $50,000. She thinks the probability of that happening is 5%.
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