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1. Draw a conventional supply and demand diagram to illustrate the gains from trade between two countries for a particular commodity (say, sugar). Be sure to label your axes and curves and relevant areas on the diagram clearly and carefully. In the light of your diagram, answer the following questions: a. Whichcountryhasacomparativeadvantageinsugar? b. Dobothcountriesgainfromtradeinsugar? c. Does anyone in either country lose from trade in sugar? d. Nametworeal-worldfactorsthatinfluencepotentialgainsfromtradein sugar that have not been included in your model?
2. Draw a supply and demand diagram to illustrate the economic consequences of the U.S. tobacco policy as it existed prior to 2004. For the purposes of the question assume a freely transferable output quota, which was given to producers by the government. Show the effects of eliminating the policy on quantity produced, consumed, and traded. Show the sign and size of the effects on welfare of producers, consumers, taxpayers, and foreigners in terms of areas on your figure.
3. a. What were the effects of the tobacco program on total U.S. welfare? Explain this "surprising" result. b. Who paid the cost of supporting producer prices under the U.S. tobacco program? Who benefited? c. What were the implications of the tobacco program for cigarette consumption? d. What was the effect on U.S. tobacco quality and yields when acreage allotments were introduced in the 1930s? Why did this happen? e. What was the effect of the shift from acreage allotments to poundage quotas in 1965 on U.S. tobacco quality and yields? Why did this happen? f. The world tobacco and cigarette industry evolved in response to the U.S. tobacco program. What was the effect of this evolution on the U.S. share of the world tobacco market? How did U.S. benefits and costs of the tobacco program change as a result of this evolution?
Write a detailed report on software engineering clearly stating its advantages and disadvantages. Your research paper should be more than 500 words in APA format
Ed Richter estimates the cost of future projects for a large contracting firm. Mr. Richter uses precisely the same techniques to estimate the costs of every potential job, and formulates bids by adding a standard profit markup.
question 1you are making your first export shipment.nbsp list five expenses you might incur that you wouldnt have in a
The federal government tests the safety of car models and provides the test results free of charge to the public. Does this information qualify as a public good?
P stands for price Pr stands for price of related good also N stands for per capita disposable income.
Describe the neoclassical theory of economic growth. Then explain how the neoclassical theory is impacted by research about endogenous technological changes and increasing marginal returns.
nbspread the article fdi into africa on the up from ernst and young and discuss on the following questions by writing 1
Calculate the mean stress in a fatigue test with a stress amplitude of 180 MPa and an R ratio of 0.1.
There are 4 factors that influence the price elasticity of demand: The availability of substitutes The specific nature of the good The part of income spent on the good The time consumers have to buy the good
Elucidate why intermediate goods and services usually are not included directly in GDP. Are there any circumstances under which they would be included directly.
In economics, demand for a product is considered downward sloping. This implies that quantity demanded rise when price reduce.
Compute the Nash equilibria. What can you do to change the rules of the game to your advantage? Compute the profit consequences of your advice.
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