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OneSource is a producer in a monopoly industry. The demand curve, total revenue curve, marginal revenue curve and total cost curve for OneSource are given as follows:
Q=160-4P TR=40Q-0.25Q2 MR=40-0.5Q TC=4Q MC=4
a) How much output will Barbara produce?
b) What price will OneSource charge for the output?
c) How much profit will OneSource make?
Adam Smith discussed how nations could benefit from trade, known as absolute advantage. What was David Ricardo’s improvement on Smith’s theory? How does it differ?
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The inflation-reduction episode of the early 1980s was an example of an
Trade deficits always lead to future decreases in consumption if the trade deficits:
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In the country of Sildavia, a market basket of goods and services cost $ 130 in 2003, $ 140 in 2004, and $160 in 2005. Based on this information and considering 2003 as the base year, inflation from 2003 to 2005.
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Two countries, France and the US produce just one good – chicken. Suppose that the price of beef in the US is $2.80 per kilogram, and in France it is 3.70 EURO per kilogram. According to PPP theory, what should be the $/EURO spot exchange rate? What..
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