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Due to fear about mad cow disease, Japan stopped importing animal feed from Britain in 1996, beef imports and processed beef products from 18 countries including EU members starting in 2001, and similar imports from Canada and the United States in 2003. After U.S. beef imports were banned, McDonald's Japan and other Japanese importers replaced much of the banned U.S. beef with Australian beef, causing an export boom for Australia ("China Bans U.S. Beef," cnn.com, December 24, 2003; "Beef Producers Are on the Lookout for Extra Demand," abc.net.au, June 13, 2005). Use supply and demand curves to show the impact of these events on the domestic Australian beef market.
What economic factors give rise to the wide divergence between private and social benefit-to-cost valuations in most developing countries? Should governments attempt through their educational and economic policies to narrow the gap between private..
Frisbees are produced according to the production function q = 2K+L where q =output of frisbees per hour, K =capital input per hour, L =labor input per hour. a) If K = 10, how much L is needed to produce 100 frisbees per hour
Suppose you have been tasked with regulating a single monopoly firm that sells 50-pound bags of concrete. The firm has fixed costs of $30 million per year and a variable cost of $3 per bag no matter how many bags are produced.
A stock was priced at $150 per share at the end of 2007. The following table shows dividends per share paid during each year and the price of the stock at the end of the year for the following four years: Dividends Paid Stock Price at Year During ..
in the keynesian cross, the consumption function is c=200+0.75(Y-T). planned investment is 100, govt purchase and tax are both 100. a)graph planned expenditure as a function of income. b)what's the equilibrium level of income.
Why is capital shortage alone not the most important factor? How do some of the factors interact with each other?
For the system of Problem 15.1, now assume that the sensor has a 5% error in its DC position measurement. Can you design a feedback loop to compensate for this error? If "yes," show the design. If "no," explain.
Suppose we introduce a new criterion, "administrative feasibility," for evaluating environmental policies in developing countries. How might this affect choices among different types of policies?
where quantity demanded is measured in thousands of tickets per week.Suppose the theater currently charges $6 per ticket, but is consider raising their prices to increase revenue.would you recommend that they raise prices
List advantages and disadvantages of rationing by queue, by lottery, and by coupon. If the government permitted a black market to develop, might some of the disadvantages of these systems be reduced?
To produce one unit of the final output, the downstream division requires one unit of the input. If the inverse demand for the final output is P = 1,000 - 80Q would the company's value be maximized by paying upstream and downstream divisional mana..
Executives estimate that they will have gross revenues of $500,000, total costs of 300,000, 30,000 in allowable tax deductions, and a one time business start up credit of 8000. What is taxable income for the first year.
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