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Cement is competitively produced domestically with MC = Q/3 -20. Domestic demand for cement is P = 100 - Q/3. The world price for cement is $50.a. Find and graph the free trade equilibrium in this marketb. The production of cement has a marginal external cost of $50. Add the social marginal cost to your graph and find the socially optimal quantity and price.c. If the government imposes a specific tax of $50 on production, how much will be produced domestically? What happens to the pattern of trade? Mark on your graph the changes to CS, PS and externality costs.d. If the government did not want to apply such high tax on production, what trade policy can it use to restrict domestic production in this context? Can this policy obtain the socially optimal outcome? Why or why not?
How is the US economy different from a command economy and Can the U.S. economy be called a true free market economy?
labor market statisticstype of statistic number millionspopulation under the age of 16 16population over the age of 16
At what prices is the demand for the firm’s product price elastic? If the firm wants to maximize its dollar sales volume, what price must it charge?
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Discuss the US bilateral trade with a country from Africa or South America for the period 1991 to 2010 (you may use a different range of 20 years like 1995-2014).
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businesses large and small now compete in a truly global economy. to be successful in another country it is essential
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identify whether each of the following raises labor demand or lowers labor supply includes slowing labor supply growth
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