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Demand-Supply Analysis and the American Revolution a. Before the American Revolution, the British government required that all imports to the colonies from outside the British Empire were first shipped to England (part of the Navigation Acts). A Boston business selling French wine, for example, would need to have it shipped from France to England, and then to Boston. Draw a demand-supply diagram for wine imported to the colonies. Illustrate the effect of the import requirement. Show the loss in consumer surplus, and the dead weight loss. Provide an explanation. b. Although a broad generalization, today, Americas are mainly coffee drinkers and the English are mainly tea drinkers. This was not always so. Prior to the American Revolution, more colonists drank tea than coffee. Suppose that after the Revolution, the U.S. government imposed a tax on imported tea. On two demand-supply diagrams, one for tea and the other for coffee in the United States, illustrate the effect of the tea tax on the price and quantity of both tea and coffee. Provide an explanation with your diagrams.
A price change causes the quantity demanded of a good to decrease by 30 percent, while the total revenue of that good increases by 15 percent. Is the demand curve elastic or inelastic?
Suppose you make 15 annual deposits of $1,000 each into a bank account paying 5% interest per year. The first deposit will be one year from today. How much can be withdrawn immediately following the 15th deposit?
Presume that the required reserve ratio is 8.0%. What is the simple money (deposit) multiplier? Round to two decimal places.
suppose you are studying the market for shoes. two events take place simultaneously. first price of leather decreases
What does the analysis of the 'hold up' problem contribute to the explanation of the size and scope of firms?
In a survey on downloading music, a poll asked 705 internet users if they "ever downloaded music from an internet site that was not authorized by a record company, or not" and 15 percent responded "yes." Construct a 99 percent confidence interval for..
A decision maker wishes to maximize total benefit, B = 3x + xy + y subject to the cost constraint, C = 4x + 2y = 70. Setup the Lagrangian and then determine the values of x and y at the minimum level of benefit, given the constraint. What are the max..
VMIC Corporation has asked you to look at the following data. The interest rate is 10 percent.
Assume the following was overheard at the water cooler: "I think our medical device company should take advantage of economies of scale by increasing our output, thereby spreading out our overhead costs."
Assume that the central bank implements monetary contraction that is not fully anticipated by financial markets. This partially unexpected monetary contraction will cause which of the following to occur?
provide a cost-benefit analysis for a company which has to decide whether to hire more staff or hire temporary workers to meet production schedules. determine how managers would use your cost-benefit analysis to make this decision.
the life insurance industry maintains that the average worker in saskatoon has no more than 25000 of personal life
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