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Describe the effects of the sugar quota. In 2005, imports were limited to 5.3 billion pounds, which pushed the domestic price to 27 cents per pound. Suppose imports were expanded to 10 billion pounds.
a. What would be the new U.S. domestic price?
b. How much would consumers gain and domestic producers lose?
c. What would be the effect on deadweight loss and foreign producers?
ABC Company acquired some land (independently appraised at $12,000) and paid for it by issuing 1,000 shares of its common stock (par $10 per share; no market price was quoted). How should this transaction be reported on the Statement of Cash Flows (S..
Suppose that Joe enjoys and repeatedly does stupid things like getting heavily into debt and insulting police officers. Do these actions constitute systematic errors? If he gets what he wants each time, are his stupid actions even considered to be er..
Do you think governments should step in and help an economy move to potential or are "markets" capable of fixing themselves? Carefully consider the impact of falling prices.
How vegetarians sometimes have trouble making sure they get enough protein in their diets.
An outcome that can result from either a price ceiling or a price floor is:
Richard Dulski’s firm is about to bid on a new radar system. Although the product uses new technology, Dulski believes that a learning rate of 80% is appropriate. The first unit is expected to take 720 hours, and the contract is for 45 units. What is..
Seller surplus is _________.
indicating how it will influence your decision to open the pizza business in your town or community. Explain any additional variables that may improve the coefficient of determination.
Question 1: Two firms compete in an undifferentiated Bertrand market. Suppose that the firms face a demand curve given by P = 80 - Q and both firms have constant marginal cost of 60.
Explain why savings is unlikely to equal intended investment in the Keynesian model. Equilibrium GDP is $5000 while full employment is $6000. What kind of gap is this? What would the Keynesians say the government should do?
Economic rent represents
q. abc company expects that it will receive a large order from the spain government. but the order occurs abc will be
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