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Suppose that Canada produces 1.0 million bicycles a year and imports another 4.0 million; there is no tariff or other import barriers. Bicycles sell for $400 each. Parliament is considering a $40 tariff on bicycles. What is the maximum net national loss that this could cause Canada? What is the minimum national loss if Canada is a small country that can not affect the world price? (Hint: draw a diagram with supply and demand and put numbers given here on it. Next, imagine the possible positions and slopes of the relevant curves.)
For each level of output except zero output, calculate the average variable cost, average total cost and average fixed cost.
Illustrate what has been happening to wheat prices and what is likely to happen to wheat prices over the coming months.
Explain the Miami plant which is closed or continue to operate at a loss in short run.
Assume that equilibrium real GDP is 800 billion, potential gdp is 900 billion, the mpc is .80, and the mpi is .40 . What is the size of the GDP gap.
Illustrate what is the minimum price neccessary for this firm to produce any output in the short run.
Describe the equilibrium price and quantity. What is the surplus of consumers and the welfare.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Which of the following possibilities is consistent with the property of diminishing marginal product.
the demand for on campus student housing at the university of Idaho, in Moscow, Idaho. The college has 2,000 rooms for rent. Illustrate what is the equilibrium rent and how many rooms are rented.
Utilizing the standard IS/LM model, elucidate how the scope of monetary policy to change real economic activity in the short run depends on the private sector reaction to interest rate changes.
Illustrate what about Italian labor-force participation rate and unemployment rate.
Illustrate what new decision will you make regarding production levels and pricing for your Widget facility.
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