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If the price of the imported TV sets was $300.00 in the US.At the beginning of the year, how much would you expect the price of the same imported TV to be in the US at the end of the year.
By how much would the quantity demanded of imported TV sets in the US change as a result of the change in price only?
By how much would the demand for imported TV sets in the US change as a result of the increase in consumer income alone?
By how much would the demand for imported TV sets in the US change as a result of both the change in price and in incomes
Define and explain technological advance, and describe how does technological advance enter into the definition of the very long run?
First ignore the implicit constraints: 8 i; xi 0 and give the FOCs. Then take them into account and give the Kuhn-Tucker Conditions. Simplify your expressions as far as you can.
Please explain why international strategy is important. What is the difference between domestic and international strategic planning?
What is the long-run equilibrium market price and quantity and what is the long-run number of firms in the industry? How much does each produce? What are their profits?
If the interest group theory applies to hospitals, explain why does not it also apply to nursing homes? Would a doctor owned, for profit hospital be as attractive to physicians as a nonprofit hospital?
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?
What is the monopolist's profit-maximizing level of output - what price will the profit-maximizing monopolist charge and how much profit will the monopolist make if she maximizes her profit?
The law of demand says that the price and quantity demanded are inversely related. Thus, is demand curve positively or negative sloped?
Illustrate with a diagram and explain the short-run perfectively competitive equilibrium for both (i) the individual firm and (ii) the industry
In the competitive industry, reduction in property tax rate on fixed capital (plant) would reduce the fixed cost of all firms. This would have the following short-run effects on P, Q, and q respectively.
If GDP is rising by 3 percent per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2 percent?
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?
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