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China's entry into the World Trade Organization (WTO) in 2001 created more competition between local and foreign firms, and also provided China greater access to the market for exports. This was particularly true in the market for rubber since, at the time, China was the world's second largest consumer of rubber (China is now the world's largest consumer of rubber). Shortly after joining the WTO, China eliminated its import quota on rubber. What impact do you think the import quota reduction likely had on the price of rubber and the quantity of rubber exchanged in China? What implications do you think the elimination of the quota on rubber had on China's social welfare?
Suppose you are the Team Manager in a multinational company with team strength of 10 members. You are given the responsibility of ensuring that the team gives excellent performance or results. What are the key issues you have to handle in team bui..
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 110 - 0.5P, and the marginal cost of production is $140. Determine the optimal number of units to put in..
It seems that it will be the government shifts. The next government with the Social Democrats in the lead wants to operate expansive fiscal policy. A journalist asks to social demokreterna this: you were commissioned to analyze the situation and prov..
Introduce and explain the concept of social welfare - define and describe the laws of demand and supply
q1. assume that a very competitive start-up enters the market in direct competition with the oligopoly you described in
In recent years, the government of Pakistan has established a support price for wheat of about $0.24 per kilogram of wheat. At this price, consumers are willing to purchase 9 billion kilograms of wheat per year. What are annual consumer expenditures ..
Why might it be hypothesized that a typical developed country is likely to have a greater relative amount of intra-industry trade than is a typical developing country? Explain.
Use the IS-LM model to predict the short-run impact on the interest rate and output if the central bank pushes interest rate down at the same time that both consumption and investment fall due to a financial crisis.
the average product of labor is 50 and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500. What is the average total cost.
if the price is greater than the average variable cost and less than the average total cost at the profit-maximizing quantity of output in the short run, a perfectly competitive firm.
Using the slope of the health expenditure function, predict the change in per capita health care expenditures that would result.
Assume a downward sloping line on a graph represents the amount of money that a typical snowboarder /skiier visiting Mount Mogul ski resort on a typical day would be willing to pay for successive lift trips up the mountain if lift trips were charged ..
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