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Explain how low must a quota be in effect to have an impact? Using a demand-and-supply diagram, illustrate and explain the net welfare loss from imposing such a quota. Under what circumstances would the net welfare loss from an import quota exceed the net welfare loss from an equivalent tariff (one that results in the same price and import level as the quota)?"
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Statistical Methods in Business & Economics – Final Exam BUS405 (2009A), best estimate of the correlation coefficient
What does it mean to have an imperfectly competitive market. Clarify with examples.
Illustrate what is the equilibrium to this game.
The respective forecasts were 120 for all four years. Illustrate what is the resulting MAD value that can be computed from this data.
Describe the difference between Economic contraction and Economic expansion
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
What is the biggest disadvantage of using shells as money.
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One has yearly income $10000, the other has yearly income $90000. Illustrate what is the Gini coefficient for this society.
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Suppose that all wages also prices in an economy are indexed to increase. Explain there can still be an increase tax.
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