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1. If a small country wants to protect its domestic producers from more efficient foreign competition by imposing an import tariff, will it come out ahead?
2. Do consumers lose when a large country protects it's less efficient producers from foreign competition by imposing a tariff ?
how many units should be produced by plant 1 and plant 2 to maximise profit for this monopoly
Suppose a consumer's income is used on two goods, X and Y. The consumer's income is $200 and the prices of X AND y are $10 and $5 respectively.
Determine whether demand is elastic, inelastic, or unit elastic with respect to its own price and whether Good Y is a substitute or a complement with respect to Good X.
Explain the difference between a monopoly and an oligopoly, and a cartel and provide an example of a monopoly, an oligopoly, and a cartel.
Does economic theory indicate that an ideal regulatory agency that forces a monopoly to charge a price equal to either marginal or average total cost will improve economic efficiency Does economic theory suggest that a regulatory agency
The quantity of coffee demanded Qd depends on the price of coffee Pc and the price of tea Pt the quantity of coffee supplied Qs depends on the price of coffee Pc and the price of electricity P e .
John Adams wrote in 1814, "Democracy never lasts long. It soon wastes, exhausts and murders itself. There never was a democracy yet that did not commit suicide."
a. Explain the decision process for a firm trying to determine the optimal quantity of a factor of production to employ. b. Explain the determination of the optimal level of pollution frrom the perspective of society.
Explain what negative externalities are, and why there may be a case for government intervention to address them. Describe some of the ways to correct the negative externalities and the pros and cons of each method.
You have been contracted by an economic consulting company to estimate the economic structure and possible future actions of OPEC, Organization of Petroleum Exporting nations.
The Fed sells bonds in the open market during a period of low unemployment and no excess industrial capacity. The economy is far below capacity and the government lowers taxes
1. Why might federal spending on roads, waterways, or national security be less subject to direct expenditure off sets than spending on health care or education 2.What might account for the fact that estimates of effect time lags for fiscal p..
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