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If the Japanese steel industry subsidizes the steel that it sells to the United States, the harm done to U.S. steel producers is less than the benefit that accrues to U.S. consumers of steel. Why is this? And how do you know?
If a price ceiling is not binding, then
A current asset (defender) is being evaluated for potential replacement. It was purchased four years ago at a cost of 565,000. It has been depreciated as a MACRS (GDS) five-year property-class asset. The corresponding depreciation rates are: 20%, 32%..
Suppose the market demand function (expressed in dollars) for a normal product is P = 100 – 2Q and the Supply Curve is P= 10 + Q, where P is the price of the product and Q is the quantity demanded or supplied. What is the equilibrium price and quanti..
Which of the following does NOT directly cause a shift in the demand curve? (the introduction of a substitute product/ frequency with which consumers purchase the product/ changes in tax)
Reflect on the notion of fiscal union within the European Union. Why is it becoming necessary? Can it be achieved quickly enough to avert financial disaster within the trading bloc?
Read the journal article, "Five Big Steps toward Faster Global Growth". Based on the information presented in the article, discuss the following: What are the challenges that the US economy will be faced with given a higher debt limit for future econ..
Under the UCC, if no price is stated in an offer but the parties express an objective intent to contract, there is reasonably certain basis for providing a remedy in case of a breach, and a quantity term is included in the offer:
Let x be eggs and y be bagels. An individual utility function is given by U(x, y) = ½ x + 1 y. This individual budget constraint is 4 = 2 x + 1 y. (You are encourage to draw this individual indifference map and budget line). At the point at which thi..
Explain how you imagine the invention of cheap electric cars would affect the demand for gasoline? Why? Which determinant of demand or supply would be affected?
How will the effect on price of an outward shift in demand for labor differ from the effect on price of an equivalent shift in the demand for land.
Briefly describe the changes in predominant health problems among Americans since good record keeping began in the 1800s.
Discuss both the price elasticity of demand and the cross-price elasticity of demand conditions facing a firm in a monopolistically competitive industry. Include in your essay the role of advertising and the creation of brand loyalty.
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