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A tax imposed on imports is called:A tariffA quotaA comparative advantageAn excise taxQuestion 2This result proposes that private parties (consumers and producers) can solve the problem of externalities on their own.A tariffScarce TheoremSocial Optimum TheoremCoase TheoremQuestion 3Two important characteristics of a public good are:Non-excludable and non-rival in consumptionExcludable but non-rival in consumptionNon-excludable but rival in consumptionexcludable and rival in consumptionQuestion 4The Tragedy of The Commons is a parable that illustrates:resources commonly owned are used more than is desirableresources that are privately owned are used efficientlyresources that are owned by the government are more efficiently usedresources that are privately owned are used more than desirableQuestion 5The impact of one person's actions on the well-being of a bystander is called a(n):SupplyMarketExternalityProperty RightsQuestion 6What criterion could you use to determine whether a small country named "Isoland" is a net importer of oil?The world price is below the domestic price in IsolandThe world price is above the domestic price in IsolandThe world price equals the domestic price in IsolandTHe world price fluctuates above and below the domestic price in IsolandQuestion 7For a net importer country, a tax on imports causes:more imports and gains in total surplusmore imports and loss of total surplusless imports and loss of total surplusless imports and gains in total surplusQuestion 8If you as an economic adviser recommend the government of Isoland (a small country) to allow free trade and steel to be imported from other countries, the steel industry at Isoland most likely will oppose your decision arguing:trade destroys domestic jobssteel is used to produce guns and tanks, therefore it is a threat to national security to allow imports from other countriesother countries that export to us are subsidizing their own industry and Isoland does notany of the aboveQuestion 9Which one below applies to an industry that produces a negative externality?the social cost and private cost are the samethe social cost exceeds the private costthe private cost exceeds the social costthe social cost is unrelated to the private costQuestion 10What explains that marginal cost increases as production of a product increases?inreasing cost lawdecreasing average cost propertydiminishing marginal product propertylaw of increasing marginals
why or why not bert is in a set salary he drinks 4 bottles of tea and 10 slice of bread.the price of tea is $10 and $4 per slice of bread.the last bottle of tea added 50 units to berts utility and the last slice of bread added 40 units.is bert ma..
q. 1. clients to live theaters inc. can be partitioned into 2 groups seniors and everyone else. the converse demand
Analyze the tasks involved in developing a retail marketing strategy to determine which task presents the greatest number of potential challenges to the retailer you selected. Explain your rationale.
Discuss the source of tension between cooperation and self-interest in a market characterized by oligopoly. Use an example of an actual cartel arrangement to demonstrate why this tension creates instability in cartels.
Illustrate what are the values for Qi and Di on the effective date of the study. If the economic limit is 20 BOPD, estimate the ERR.
emphasize why the need for instrumental variables arises and how authors have approached the problem. make sure to
q1. assume the monthly demand for soda by a consumer is given by.a. if the price of soda is 1 per can explain how many
assume yn 11600 t0.2 as well as g 2610.a compute the amount of taxes at natural real gdp.b clarify why there is a
how many pineapples will she consume? If her income increases to $120, how many grapefruits will she consume? Are grapefruits a normal or inferior good?
Abstracting from any other factors, what is the range for rates of exchange of modems for DVD drives that will now include Northland
What role does microeconomics play in business decisions compared to macroeconomics. Can you assit me with a real life example that would show the impact on the decision making process of the business.
Other things being equal, woudl this tend to increase planned expenditure in the United States by exactly, more than, or less than $50,000? Would it shift the aggregate demand curve to the right, the left or not at all? Explain in detail.
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