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Suppose Canada is a net importer of good Y and there is only one Canadian firm in the Y industry. The Canadian government is considering an import quota on good Y.
Analyze the impact of this policy on
1) price, consumption, and production of good Y in the Canadian market, and
2) welfare of different agents in Canada. Show your analysis with a graph.
Sketch a per-worker production function in the diagram that illustrates the law of diminishing marginal returns. Identify the level of output per worker produced given k capital per worker.
What generalization can be drawn from the completed table There is insufficient data to make a generalization OR Bond price and interest rate are inversely related OR Bond price and interest rate are not related OR Bond price and interest rate are..
A monopolistically competitive firm produces a level of output at which price equals $80, marginal revenue equals $40, average total cost equals $100, marginal cost equals $40, and average fixed costs equals $10.
In a state-contingent income space, each person's indifference curves are generally bowed in toward the origin. Why does this imply that the person is risk averse?
Private property is often casually assumed to be everywhere the same. How does Chinese private ownership differ from the ideal, and why does this matter?
Now suppose the training involves learning the specic policies of the company and more about their specic clothing lines. In this case, which party would benet from the training? Would it be implemented? And what would worker pay be during each pe..
Suppose the owner could engage in price discrimination. Would you expect the number of filled seats to increase or decrease? Explain.
aggregate labor market for bampb professionalsyafklfor 1 amp 2 find equilibrium wage equilibrium nd equilibrium ns1.
How might a critic respond to the claim that taxes always make the allocation of resources less efficient?
Derive the new demand for the public good on the part of the whole economy and compute the new optimal level of supply, given that the MC remains unchanged.
Max has the utility function U(x1,x2)= x1(x2+2) a. If the price of good 1 is $2, the price of good 2 is $1, and Max's income is $10, how much good 1 will Max consume? b. Suppose that Max's income level is $10. Derive Max's demand function for good..
Describe the changing barriers to entry in the automobile industry and explain how the combination of market demand and economies of scale has changed the structure of the industry over the past 100 years.
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