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In 2003 to 2004, the Canadian dollar appreciated against the US dollar. Explain the effects of this appreciation on each of the following.
a. Canadian exporters of goods to the US
b. Canadian firms that buy machinery and equipment from US suppliers
c. cross border shoppers from Canada who shop for goods in the US retired Canadians who live in Arizona and Florida during the winter months
A single monopolistic firm provides pick-up of recyclable goods (bottles, cans, paper, etc.) in the city
Determine whether your commodity is a necessity or a luxury product. Identify the availability of substitutes for the chosen product and explain how the necessity of a good and the availability of substitutes impact the price elasticity of the prod..
What is the total dollar value of the change in welfare in the United States caused by the tariff? State whether the U.S. gets a welfare gain or suffers a welfare loss from the tariff.
Define scarcity and opportunity cost. What role these two concepts play in the making of business decisions? What is Marginal Analysis ? (b) Why Is Marginal Analysis Important in Economics? (c) What is the role of Marginal analysis ?
Indicate whether each of the following statements is true or false and explain why. a) A competitive firm that is incurring a loss should immediately cease operations.
The production possibilities frontier can be used to demonstrate which of the following?If Lindenderry is at point U, producing 1300 tons of corn and 34 million automobiles, what is the opportunity cost of an additional 11 million automobiles?
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
Employing the new factory would ultimately reduce average total cost and the present value of the gain from employing the new factory must be less or equal to $50 million.
Alfred Kahn, currently an economics professor at Cornell University, led the United States drive to deregulate airline industry as chairman of the Civil Aeronautics Board under President Jimmy Carter.
Prepare your slides as soon as you have a good final draft. Preparing the slides will help you see any weaknesses in your paper.
Describe the difference between a monopoly and an oligopoly, and a cartel and provide an example of the monopoly, an oligopoly, and a cartel and write down the welfare effects of monopolies and oligopolies.
Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points?
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