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Over the past few decades, East Asian economies have increased their share of world GDP. Similarly, intra-East Asian trade-that is, trade among East Asians nations-has grown as a share of world trade. More than that, East Asian countries do an increasing share of their trade with each other. Explain why, using the gravity model.
Give an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.
List the four major areas (audience analysis; objectives and budget; issues; and research) and explain how an organization designs a program around these four influences.
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
Explain the impacts of an expansionary fiscal policy such as a tax cut on the levels GDP, Consumption, Investment, interest rate and unemployment and price.
What is the long-term equilibrium enrollment in the tuition reimbursement sub-program and which sub-program's long-term equilibrium would be more greatly affected?
What output maximizes the White Company's profit and what is the White Company's economics profit? Should the White Company continue in business or shut down in the short-run? Why?
What is the long-run equilibrium price in this market? Explain intuitively, in your own words, why this is the long-run equilibrium. What is the long-run market equilibrium quantity?
Consider now that the entrant, if fought, has the possibility of withdrawin from the industry (at a loss of 1 for the entrant and a gain of 8 for the incumbent), or staying (at a loss of 5 for each player).
Give at least two examples of a perfectly competitive market and explain what characteristics led you to that decision. Second, give at least two examples of a monopoly market and explain what characteristics led you to that decision.
Given production function Q= 100(L^0.5)(K^0.5), where L = labor hours per unit time, K=machine hours per unit time, and Q=output per unit time.
Explain the relationship between the Magpie and the Eagle and explain what would be the effect of a 10% increase in the income of the target market have on the demand for the Magpie
Obtain price elasticity of demand for good one. Obtain income elasticity of demand for good and find the amount of compensation needed for Hicks compensation
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