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Analyze the content from Ma & Adams on China, in terms of the microeconomic concepts that you are studying from the Parkin textbook. Try to identify specific key principles and theories which bear upon the allocation of resources and distribution of incomes in China. Thus try best to illustrate how the text material from Parkin applies meaningfully to China. [ ~ 3 pages ]
The shape of Canada’s production possibilities frontier (PPF) should reflect the fact that as Canada produces more trucks and fewer cars, the opportunity cost of producing each additional truck ______
How would the following changes in price affect total revenue? That is, would total revenue increase, decline, or remain unchanged?
Explain why temporary and permanent fiscal expansions do not have different effects under fixed exchange rates, as they do under floating exchange rates.
Classify this production function by returns to scale. Comput the firms long-run cost function.
If the nominal social discount rate is 7% and the rate of inflation is currently stable at 2 percent, should the city build either facility.
Illustrate what is your advice to the Canadian government about which market structure to choose for pasta industry.
The market demand for another product you are considering selling is Q(p) = 100 ? (1)p and as the 2. only producer of this product your production costs would be C(Q) = 40Q. You learn of a second firm wishing to enter this market. If you were to perf..
Suppose an economic agent has a utility function U = Ln (R). Assume R is the return on investment and utility is the natural log of investment. If the investment is highly successful then the agent earns $10000. Derive the expected value of the inves..
How do the “rules of the game” help determine who will be poor and who will not? (Hint: How did the Civil Rights Act of 1964, which forbade discrimination on the basis of race, likely affect the incomes of African Americans compared to the incomes of..
You are the manager of a firm that receives revenues of $60,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -2.5, and the cross-price elasticity of demand between product Y and X is..
A certain college graduate, Sallie Evans, has $24,000 in student - loan debt at the end of her college career. The interest rate on this debt is 0.75% per month. If monthly payments on this loan are $432.61, how many months will it take for Sallie to..
Economists often assume that insurers set premiums (nearly) equal to the AFP for that plan. Is that an accurate assumption? Is a higher “load” on insurance premiums necessarily a bad thing for consumers? When might a higher load be a sign of problems..
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