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China's entry into the World Trade Organization (WTO) is likely to create more competition between local and foreign firms, as well as provide China greater access to the market of exports. This is particularly true in the market for rubber since China is the worldâ??s second largest consumer of rubber. According to the WTO, China plans to eliminate its import quota on rubber over the next five years. What impact is the import quota reduction likely to have on the price of rubber and the quantity of rubber exchanged in China? What implications will the elimination of the quota on rubber have on China's social welfare?
Suppose there are only two firms. It is better to be a quantity leader in a Stackelberg model than a member of a cartel in a one shot market. Use a graph if you want.
Using above demanded schedule, find out the elasticity of demand for each price change. (Example: when price changes from $5 to $10, quantity demanded changes from 1000 to 800 oz., so the elasticity of demand, by using average values, is 1/3 or 0...
make a paragraph in which you discuss market trends that McDonald's will face. Explain your conclusions. In your paper address how each of the following will change or will not change, and why.
Describe why the demand curve facing a monopolist is less elastic than one facing a firm that operates in a monopolistically competitive market.
Assume that you are the chief economic advisor to the president of the U.S..
Providing the current situation with General Motors, our team is recommending that they (GM) reduce their current operations in order to maximize profits.
Determine the Tragedy of the Commons, which gives a contemporary example, and offer a potential solution.
Illustrate percent have prices increased over the past thirty years. What average annual inflation rate would have resulted in this answer.
Illustrte what is the put premium on a December 25 PHLX pound contract with an exercise price of $1.81.
Suppose the banking system is in reserve equilibrium. The Fed conducts an open market purchase of Treasury securities in the amount of $1 billion.
Illustrtae what is the difference among cost-push and demand-pull inflation.
You are the manager of a firm in a new industry. You have gotten the jump on the only other producer in the market.
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