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How can two countries both be better off as a result of trade? How can tariffs protect U.S. jobs? Do tariffs lead to a net increase in jobs? Explain. Who are the winners and losers from trade restrictions? Given that trade restrictions impose losses on an economy, why are trade restrictions so common?
What are the two effects of every price change? Given two goods, "x" and "y", if the price of "x" increases (all else equal), what do each of the effects say will happen to the consumption of "x"? After the change, what can we say about the quantity ..
Describe the analogies used by Kao Tzu and Mencius to express their differing views on the nature of being human. Then, create an analogy of your own that you think accurately reflects what it means to be human.
Suppose a second firm enters the market. Let Ql be the output of the first firm and Q2 be the output of the second. Market demand is now given by Ql + Q2 = 53-P Assuming that this second firm has the same costs as the first, write the profits of each..
1. two homeowners indexed by a and b possess the following demand curves for the consumption of landscaping water.
elasticity studies have looked at the overall demand for higher education in general some have examined the demand for
If you are a manufacturer do you necessarily want the gray market to cease to exist? Why or why not? How about if you are a franchised dealer?
select a nation that has a low per capita income and discuss how the catch-up effect would work for that country.
consider a perfectly competitive market in long-run equilibrium where all firms operate under the same cost conditions.
In spite of significant price increases for gasoline in the last two years, the amount of gasoline consumed has not decreased a lot--does this mean that gasoline is an exception to the law of demand.
Suppose that the market for some product has a linear downward?sloping demand curve and a linear upward sloping supply curve. Then suppose that the price of a substitute good increases and the price of an input to production also increases.
What is a government budget deficit How does afederal budget deficit affect the economy How does it affect thelevel of investment and interest rates How does it affect the individual consumer
choose two companies in the same industry - one with a cost leadership strategy and one with a differentiation
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