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Two identical small poor countries, Country A and Country B, have a well educated population but small capital stock. Initially they both have closed economies. Country B opens up for the world and can be observed as a small open economy. In what country will the growth be faster and why? Explain quite in detail
Consider two neighbouring island countries called Bertland and Ernamia. They each have 4 million labor hours available per week that they can use to produce wheat, clothing, or a combination of both. The table below shows the amount of wheat or cloth..
How does definition of a market, or for that matter, a business strategy, affect that perception of a monopoly.
What he didn't foresee was that number of T-shirt stores in South Padre would jump from roughly 10 to 40 within two years. Now he laments.
q.assume you are a painter as well as the cost of a gallon of paint increases from 3.00 a gallon to 3.50 a gallon. your
Alex is willing to buy the last ticket to the Billy Bragg concert for $15, while Jake is willing to pay $25. Alex is first in line and buys a ticket for $15. Alex could sell his ticket to Jake for $20, but he can't because of government regulation pr..
In 2013, the market price for a 3,000 square foot home in South Tampa, Florida was $350,000 and 358 new homes were built. In 2014, the market price for a 3,000 square foot home in South Tampa, Florida increased to $385,000 and, holding all else equal..
Edison Electric Company's president has been arguing that residential electric rates need to be raised relative to industrial rates.
A monopolist faces an inverse market demand P(Q) = 200 − (1/2)Q and a marginal cost of MC(Q) = 20 + Q. What is the unregulated monopolist’s optimal quantity? What would an appropriate regulatory instrument to bring this market back to efficiency? Wha..
A 10% increase in the price of pizza causes a 10% drop in the quantity of both pizza and beer sold. Describe elasticities and the nature of the two products.
Why does this happen that Research the recent history of gasoline pricing in Texas, and attempt to relate any fluctuations you observe to documented supply and demand factors. Be sure to cite any references used.
the last major conflict between the US army also Native Americans took place at
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price, quantity and consumer surplus?
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